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Cushman & Wakefield Reports Financial Results for the Third Quarter 2022

Aixa Velez • 11/3/2022

CHICAGO - Cushman & Wakefield (NYSE: CWK) today reported financial results for the third quarter of 2022:

Year-to-Date Results:

  • Revenue of $7.5 billion and service line fee revenue of $5.4 billion for the nine months ended September 30, 2022 increased 15% and 16%, respectively, from the nine months ended September 30, 2021.
    • Leasing, Capital markets and Property, facilities and project management experienced continued growth, led by the Americas.
  • Net income and earnings per share for the nine months ended September 30, 2022 were $166.6 million and $0.73, respectively.
    • Adjusted earnings per share of $1.54 was ahead of the nine months ended September 30, 2021 of $1.10.
    • Adjusted EBITDA of $679.0 million increased 26% from the nine months ended September 30, 2021.
  • Liquidity as of September 30, 2022 was $1.5 billion, consisting of availability on the Company's undrawn revolving credit facility of $1.1 billion and cash and cash equivalents of $0.4 billion.

Third Quarter Results:

  • Revenue of $2.5 billion and service line fee revenue of $1.8 billion for the third quarter of 2022 increased 8% and 4%, respectively, from the third quarter of 2021.
    • Leasing and Property, facilities and project management grew 13% and 10%, respectively.
    • Capital markets declined 20%.
  • Net income and earnings per share for the third quarter of 2022 were $23.9 million and $0.11, respectively.
    • Adjusted earnings per share of $0.43 was down 10% from the third quarter of 2021.
    • Adjusted EBITDA of $201.9 million was down 8% from the third quarter of 2021.

“Cushman & Wakefield has again delivered top-line growth, as we continue to make excellent progress on our multi-year strategy of investing in the long-term growth sectors of our industry,” said John Forrester, Cushman & Wakefield Chief Executive Officer. "Property, facilities and project management, as well as our Leasing service lines across a broad spectrum of sectors, performed well. Our global and diversified service platform, strong balance sheet and liquidity also position us well in the current macroeconomic environment and enable our people to continue to execute against our strategic priorities. Even in the midst of the current environment, we remain extremely encouraged about the long-term fundamentals in our industry and our ability to drive value for our clients and shareholders."


View full press release.

 

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

쿠시먼앤드웨이크필드 코리아 회사 소개

쿠시먼앤드웨이크필드(뉴욕증권거래소: CWK)는 전세계 60개국 400여 개 지사에서 약 52,000명의 전문가들을 둔 부동산 소유주들과 임차인들을 위한 선도적인 글로벌 상업용 부동산 서비스 회사입니다. 2023년에 부동산, 시설 및 프로젝트 관리, 임대, 투자자문, 밸류에이션 등 핵심 서비스 부문에서 95억 달러의 매출을 기록했습니다. 또한 수상 경력에 빛나는 기업 문화와 다양성, 형평성 및 포용성(DEI), 환경, 사회 및 거버넌스(ESG) 등에 대한 헌신으로 수많은 업계 및 비즈니스 표창을 받았습니다. 자세한 정보는 본사 웹사이트 (www.cushmanwakefield.com)에서 확인하시기 바랍니다.

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