CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield Reports Financial Results for Third Quarter 2020

11/5/2020

CHICAGO - Cushman & Wakefield (NYSE: CWK) today reported financial results for the third quarter ended September 30, 2020:

  • Revenue for the third quarter of 2020 of $1.9 billion was down 9% (9% local currencyi) from the third quarter of 2019. Fee revenue of $1.3 billion was down 14% (15% local currency) versus the prior year.
  • Net loss and loss per share for the third quarter of 2020 were $37.3 million and $0.17, respectively. Adjusted earnings per share was $0.16.
  • Adjusted EBITDA was $117.1 million, down 31% (31% local currency) from the third quarter of 2019.
  • Maintained significant liquidity as of the end of September of $1.9 billion consisting of cash on hand of $916.8 million and availability under the Company's undrawn revolving credit facility of $1.0 billion.
  • The Company is on track to realize annualized cost savings of $400 million for the full year as previously communicated.

“I am pleased with the performance of our team as we continue to deliver critical client service in these uncertain and challenging times. Our diversified portfolio, specifically our PM/FM service lines, together with our tight cost management, helped to mitigate the impact of the lower demand for transactional services across our industry in the third quarter. Going forward, we are well positioned to navigate any number of recovery scenarios given our strong financial position and continuing focus on cost management, innovation and operational excellence,” said Brett White, Executive Chairman & CEO.

Click here to read the full press release. 

INVESTOR RELATIONS:
Len Texter | Investor Relations
+1 312 338 7860
IR@cushwake.com

Cushman & Wakefield Media Contact

Brad Kreiger (image)
Brad Kreiger

Chief Marketing & Communications Officer • Chicago

 

RECENT INSIGHTS

Asia REIT Market Insight 2023-2024
Research • Investment / Capital Markets

Asia REIT Market Insight 2023-2024

We are thrilled to present the 8th annual edition of Cushman & Wakefield’s Asia REIT Market Insight series! This in-depth report offers a comprehensive analysis of the five largest REIT markets in Asia: Japan, Singapore, Hong Kong China (“Hong Kong”), the Chinese mainland, and India.

Catherine Chen • 7/22/2024
Turn Around the Table Podcast
Podcast

The Team Around the Table Podcast

There's a better way to outsource corporate real estate—and it starts with choosing the right team.
7/8/2024
Asia Pacific Outlook 2024
Research • Workplace

Asia Pacific Office Outlook 2024

Cushman & Wakefield’s 2024 Asia Pacific Office Outlook provides supply, demand, vacancy and rent data forecasts for cities in Australia, China, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Dominic Brown • 12/13/2023

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS