Core Insights - Cushman & Wakefield (CWK) has consistently beaten earnings estimates, with an average surprise of 13.06% over the last two quarters [1][2] - The company reported earnings of $0.23 per share for the most recent quarter, exceeding the expected $0.20 per share, resulting in a 15% surprise [2] - Recent estimates for Cushman & Wakefield have been revised upward, with a positive Earnings ESP of +10.42%, indicating bullish sentiment among analysts [3][6] Earnings Performance - For the previous quarter, Cushman & Wakefield's earnings were $0.20 per share against an expectation of $0.18 per share, leading to an 11.11% surprise [2] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat, with historical data showing a nearly 70% success rate for stocks with this combination [4][6] Earnings ESP Explanation - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions prior to earnings releases [5] - A positive Earnings ESP indicates that analysts are optimistic about the company's earnings prospects, which is currently the case for Cushman & Wakefield [6] Upcoming Earnings - The next earnings report for Cushman & Wakefield is expected to be released on February 20, 2025 [6]

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Financial Data and Key Metrics Changes - Fee revenue for Q3 2024 increased by 3% year-over-year, with adjusted EBITDA of $143 million declining by 5% primarily due to a recent service divestiture and higher compensation costs [11][14] - Adjusted EPS rose to $0.23, an increase of $0.02 from the previous year, benefiting from interest and tax savings [11] - Year-to-date adjusted EBITDA of $360 million is up 1% compared to last year [11] Business Line Data and Key Metrics Changes - Leasing revenue grew by 13% in Q3, marking the fourth consecutive quarter of growth, with Americas Leasing up 16% and APAC Leasing up 13% [11][12] - Capital Markets revenue in the Americas increased by 2%, marking the first growth in nine quarters, while EMEA Capital Markets revenue declined by 5% [12] - Services revenue grew by 1% excluding the impact of divestiture, with APAC Services revenue increasing by 6% [13] Market Data and Key Metrics Changes - The Fed rate cut in September has revitalized Capital Markets, contributing to increased optimism among buyers and sellers [8] - EMEA Capital Markets revenue has shown a year-to-date growth of 3%, indicating gradual improvement in fundamentals [12] - APAC Capital Markets revenue declined by 44% due to deal timing, but strong pipelines are expected to support a rebound in Q4 [12] Company Strategy and Development Direction - The company is focusing on deleveraging and strategic investments in leasing, aiming to capitalize on growth opportunities [7][9] - Future capital allocation will prioritize funding brokerage business, re-accelerating Services revenue, and opportunistic deleveraging [21] - The company is committed to improving operational efficiencies and enhancing global platform offerings through targeted investments [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in Capital Markets, anticipating further growth driven by Fed rate cuts and improved financial conditions [39][54] - The company expects to finish the year within the 30% to 40% free cash flow to EBITDA conversion target, translating to approximately 80% free cash flow to adjusted net income conversion [16] - Management highlighted the importance of maintaining margins while investing in growth opportunities as the brokerage business recovers [30] Other Important Information - The company fully extinguished its $200 million in 2025 debt maturities ahead of schedule, solidifying its balance sheet [8][17] - Free cash flow for Q3 was $187 million, an increase from $174 million in the same quarter last year, with year-to-date free cash flow improving by $146 million [14][17] Q&A Session All Questions and Answers Question: Clarification on 20% growth for Capital Markets in Q4 - The 20% growth for Capital Markets in Q4 is year-over-year growth [22] Question: Confidence in returning to mid-single digit organic growth in Services - Management remains confident in re-accelerating growth, particularly in facilities management and global occupied services [23][24] Question: Insights on Capital Markets growth drivers - The growth in Capital Markets is supported by a strong pipeline and improving market conditions, with expectations for a gradual recovery [26][28] Question: Commentary on margins and their impact - Management is focused on protecting margins while also investing in the business to prepare for growth [29][30] Question: Update on project management delays - Delays in project management are not thematic but rather a function of a subdued market, with expectations for improvement [51]

Cushman & Wakefield (CWK) reported $2.34 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.6%. EPS of $0.23 for the same period compares to $0.21 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.37 billion, representing a surprise of -1.22%. The company delivered an EPS surprise of +15.00%, with the consensus EPS estimate being $0.20.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...

Cushman & Wakefield (CWK) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15%. A quarter ago, it was expected that this company would post earnings of $0.18 per share when it actually produced earnings of $0.20, delivering a surprise of 11.11%.Over the last four quarters, the company ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _______________ to _______________ Commission File Number: 001-38611 | --- | --- | --- | |------------------------------------------- ...

Exhibit 99.1 For Immediate Release Cushman & Wakefield Reports Financial Results for the Third Quarter 2024 Strong global leasing revenue growth of 13% Net cash flow from operations and free cash flow both improved by more than $140 million year-to-date vs. 2023 Fully repaid term loan due in 2025 CHICAGO (BUSINESS WIRE), November 4, 2024 — Cushman & Wakefield (NYSE: CWK) today reported financial results for the third quarter of 2024. "This quarter marked an important turning point. We reported the highest q ...

Cushman & Wakefield (CWK) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on November 4, 2024, might help the stock move higher if these key numbers are be ...

Cushman & Wakefield (CWK) shares rallied 6.4% in the last trading session to close at $13.55. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.9% loss over the past four weeks. The increased investor optimism in the stock can be attributed to the positive sentiments within operations real estate amid favorable industry fundamentals. This company is expected to post quarterly earnings of $0.19 per share in it ...

Peer Valuation Discount Is Justified By Relatively Weaker Results And Prospects Final Thoughts J2R/iStock Editorial via Getty Images Bottom-Line Beat Was Overshadowed By Top-Line Miss For Second Quarter CWK issued the company's latest second quarter results announcement on July 29, 2024 after trading hours. Cushman & Wakefield's actual Q2 2024 normalized EPS of $0.20 turned out to be +11% better than Wall Street's consensus bottom-line forecast of $0.18. Notwithstanding its second quarter earnings beat, CWK ...