Cushman & Wakefield Plc Stock Price, News & Analysis

Cushman & Wakefield (NYSE: CWK) will announce its first quarter 2023 financial results on May 4, 2023, at 4:05 p.m. ET, followed by a conference call at 5:00 p.m. ET.

The firm, a global leader in commercial real estate services, had revenues of $10.1 billion in 2022. With over 52,000 employees across 400 offices in approximately 60 countries, it emphasizes exceptional value for both real estate occupiers and owners.

Interested parties can join the conference call via phone or access a live webcast on the company's IR website. An audio replay will be available approximately two hours after the call.

Cushman & Wakefield (NYSE: CWK) has been awarded the 2023 ENERGY STAR® Partner of the Year—Sustained Excellence Award by the U.S. EPA and Department of Energy, marking 11 consecutive years of recognition. The company was also named one of the top 15 Elite members of EPA’s ENERGY STAR Certification Nation for certifying over 200 buildings in 2022. These awards highlight the firm's commitment to aiding clients in achieving sustainability goals and addressing climate change. The ENERGY STAR program recognizes businesses making significant contributions to energy efficiency, which is vital for public health and a clean energy future.

Cushman & Wakefield (NYSE: CWK) reported full year 2022 results with revenue of $10.1 billion, an increase of 8% compared to 2021. Net income was $196.4 million with diluted EPS of $0.86. Fourth quarter revenue of $2.6 billion decreased 8% year-over-year, primarily due to a 53% drop in Capital markets. Despite revenue growth in Property management, adjusted EBITDA fell 37% to $219.7 million. Liquidity was strong at $1.7 billion. The company projects strategic growth in core service lines, with a focus on disciplined cost management amid macroeconomic challenges.

Cushman & Wakefield (NYSE: CWK) has been recognized in The Global Outsourcing 100® list by the International Association of Outsourcing Professionals (IAOP) for the 12th consecutive year. This recognition in the Leader category highlights the firm's dedication to providing exceptional service and continuous improvement in the outsourcing industry, particularly in real estate and capital asset management. The list serves as a benchmark of excellence, based on stringent evaluation methods, and acknowledges firms that have effectively navigated the challenges of an evolving market. Cushman & Wakefield aims to deliver innovative solutions for its clients globally.

Cushman & Wakefield (NYSE: CWK) has announced an amendment to its Credit Agreement, extending the maturity of $1.0 billion of its $2.6 billion Senior Secured Term Loan from August 21, 2025, to January 31, 2030. The loan will now bear interest at Term SOFR plus an applicable spread of 3.25%, with a floor of 0.50%. The remaining $1.6 billion of the Senior Secured Term Loan's maturity date remains unchanged. As of September 30, 2022, the company holds $1.5 billion in liquidity, positioning it to pursue long-term strategic priorities. CFO Neil Johnston emphasized this extension as a reinforcement of the company's financial stability.

Cushman & Wakefield (NYSE: CWK) is set to release its fourth quarter 2022 financial results after market close on February 23, 2023, at 4:05 p.m. ET. A conference call will follow at 5:00 p.m. ET, offering insights into the financial performance. Interested participants can join by dialing 1-866-652-5200 (domestic) or 1-412-317-6060 (international). An audio replay will be available on the company's investor relations website approximately two hours post-call. Cushman & Wakefield reported a revenue of $9.4 billion in 2021, highlighting its status as a prominent global real estate services firm.

Cushman & Wakefield (NYSE: CWK) has appointed Megan McGrath as its new Senior Vice President of Investor Relations. McGrath, with over 20 years of experience in finance and IR, will enhance the firm's investor engagement strategy. Previously, she worked at Financial Profiles and held positions at Buckingham Research and Lehman Brothers. Neil Johnston, CFO, expressed confidence in McGrath's ability to effectively communicate the firm's value proposition to investors. McGrath aims to leverage Cushman & Wakefield's unique market positioning and commitment to ESG to broaden investor outreach.