BOSTON--(BUSINESS WIRE)--Cushman & Wakefield announced today that C&W Services has hired Michael Gill as Senior Director, Client Services, New England. Gill will oversee all Engineering & Maintenance operations in New England, a geographic stronghold for C&W Services, and take a critical leadership role within the region. He will spearhead client partnerships across key accounts including BXP, which recently renewed services for another five years with C&W Services. “We are so fortunate to have Michael j ...

CHICAGO--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK) today announced the appointments of Jennifer McPeek and Raj Vennam to its Board of Directors, effective March 18, 2024. McPeek brings more than 20 years of executive experience in the financial services industry. She previously served as Chief Financial Officer of Russell Investments, and prior to that, McPeek held various roles at Janus Henderson Investors plc, including the roles of Chief Operating & Strategy Officer and Chief Financial Officer. ...

NEW YORK, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Greystone Monticello and Cushman & Wakefield jointly announced today that the firms provided financing for, and represented the buyer of, respectively, a two-property portfolio of build-to-rent multifamily communities in Phoenix, Arizona. Jeems Lochridge of Cushman & Wakefield represented Balfour Pacific Capital and Stone View Holdings, the joint buyers and co-General Partners in the transaction, and Greystone's Dale Holzer of Greystone originated the loan through ...

CHICAGO--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has been named a top two real estate brand by The Lipsey Company, an international leader in training and consulting specializing in the commercial real estate industry. Since 2002, The Lipsey Company has set the standard for the industry’s most recognizable brands by publishing its annual Top 25 Brand Survey. “We are proud to again be named a top real estate brand by The Lipsey Company,” said Brad Krei ...

Financial Data and Key Metrics Changes - For the full year 2023, the company generated fee revenue of $6.5 billion, a 10% decrease from the prior year, with adjusted EBITDA of $570 million, down 37% from 2022, and adjusted earnings per share of $0.84 [35][66] - In Q4 2023, fee revenue was $1.8 billion, a 3% decrease from the prior year, with adjusted EBITDA of $213 million, down $7 million from the prior year, and an adjusted EBITDA margin of 11.8%, essentially flat year-over-year [34][64] Business Line Data and Key Metrics Changes - Leasing revenues grew 5% year-over-year, marking the first positive result since Q3 2022, while capital markets revenue declined significantly [10][31] - PM/FM revenue increased 1% for the Americas, or 4.6% excluding the impact of a contract change, while overall PM/FM revenue grew 3% for the full year [11][35] - Project management saw a decline, particularly in Q4, while facilities management and property management remained strong [15][57] Market Data and Key Metrics Changes - The APAC region reported leasing revenue up 14% and capital markets up 5%, driven by strong growth in Southeast Asia and India [5] - EMEA brokerage revenue declined 1% in Q4, with capital markets down 26% and leasing up 13%, particularly strong in the U.K. [73] Company Strategy and Development Direction - The company is focused on long-term strategic plans and has begun deleveraging, with plans to reduce leverage later in Q1 2024 [7][12] - The company aims to capitalize on market recovery by enhancing balance sheet strength, improving cash flow, and focusing on accretive growth opportunities [33][63] - The company is optimistic about leasing growth in 2024, driven by larger office and industrial deals [54] Management's Comments on Operating Environment and Future Outlook - Management anticipates a moderate reduction in interest rates later in 2024, which could lead to a more active capital markets environment [8][62] - The company expects trends in capital markets to improve throughout 2024, with sustained growth likely in the second half of the year [36][74] - Management expressed confidence in the company's ability to manage costs while focusing on growth, despite facing inflationary pressures [67][50] Other Important Information - The company ended the year with $1.9 billion in liquidity, consisting of $800 million in cash and $1.1 billion available on its revolving credit facility [12][66] - The company achieved $101 million in free cash flow for the full year, a significant improvement from a $2 million use of cash in 2022 [66][69] Q&A Session Summary Question: What is the outlook for cash flow conversion in 2024? - Management expressed satisfaction with the free cash flow generated in 2023, attributing it to improved working capital efficiency and internal initiatives [19][43] Question: What are the expectations for leverage reduction? - Management indicated that leverage is a priority and plans to begin repaying debt, with expectations for natural leverage reduction as EBITDA improves [23][46] Question: How is the company addressing cost management? - Management confirmed that while they are not planning specific cost initiatives like in 2023, they will continue to focus on cost efficiency and growth [27][50] Question: What is the current state of the leasing market? - Management noted that larger occupiers are making decisions, particularly in Class A office spaces, contributing to improved leasing performance [48][54] Question: Can you provide insights on the services revenue? - Management clarified that services revenue grew 4% for the year, excluding a contract change, with strong performance in property and facilities management [57][35]

Cushman & Wakefield (CWK) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.38%. A quarter ago, it was expected that this company would post earnings of $0.20 per share when it actually produced earnings of $0.21, delivering a surprise of 5%.Over the last four quarters, the company h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 Cushman & Wakefield plc (Exact name of registrant as specified in its charte ...

CHICAGO--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has been recognized on the Forbes list of America's Best Large Employers 2024. The annual award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. “We’re proud to be recognized as one of America’s Best Large Employers. We have a special culture at Cushman & Wakefield. Our people never settle; they’re always pushing forward for our clients,” said ...

3. Occupiers have been right sizing their portfolios, but much of the effects of increased remote and hybrid work environments have filtered through the system. (Photo: Business Wire)2. The supply-side boom is quickly unwinding, and new office deliveries will be historically low in the middle of this decade. (Photo: Business Wire)1. The population out-migration trends in large cities that accelerated early during the pandemic are returning to long-term norms. (Photo: Business Wire)1. The population out-migr ...

CHICAGO--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK), a global leader in real estate services, today announced an innovative and strategic collaboration with Measurabl, a leading provider of environmental, social, and governance (ESG) performance data solutions. “The challenge with ESG initiatives is in how you measure success. This technology, along with our in-house sustainability and property expertise, enables our clients to access data-driven insights that can inform on areas of strength, and a ...