CWK Cushman & Wakefield Ltd.

BULLISH Impact: 7/10 8-K
Horizon days Filed May 7, 2026 Processed 1mo ago SEC 0001628369-26-000058
8-K Item 2.02: Earnings release
Latest settled — T+20d
CWK ▼ -8.59% at T+20d
LONG call ✗ call lost -8.59% · α vs SPY -11.73% · entry $13.85 → $12.66
Next anchor: T+60d in 8w
Last close $13.24 (close Jun 8) · -4.40% from $13.85 entry
Entry anchored
May 7, 2026
via day open
T+1d
+2.45%
call +2.45% · α +1.62%
$14.19
settled 5w ago
T+5d
-5.85%
call -5.85% · α -7.35%
$13.04
settled 27d ago
T+20d
-8.59%
call -8.59% · α -11.73%
$12.66
settled 5d ago
T+60d
call — · α —
in 8w

Price Chart

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Executive Summary

Cushman & Wakefield reported Q1 2026 revenue of $2.54B (+11% YoY) and adjusted EPS of $0.15 (+67% YoY), both above consensus estimates of $2.46B and $0.13. All service lines grew, led by Leasing (+19%) and Capital markets (+15%), marking the sixth consecutive quarter of double-digit Capital markets growth. GAAP net loss widened to $12.6M due to non-cash charges including a pension buy-out settlement and a servicing liability.

Key Financial Metrics

Free Cash Flow
-$255.7M

Actionable Insight

The strong beat across all segments supports upside momentum. Monitor the conference call for any guidance update; continued double-digit capital markets growth is a positive signal for the CRE cycle. The widening GAAP loss is non-cash and should not derail the adjusted earnings trajectory.

Key Facts

  • Revenue $2.54B vs consensus $2.46B (beat +3.1%)
  • Adjusted EPS $0.15 vs consensus $0.13 (beat +15.4%)
  • Total revenue +11% YoY; Leasing +19%, Capital markets +15%
  • Adjusted EBITDA $111.3M (+16% YoY); Adjusted net income $34.7M (+69% YoY)
  • GAAP net loss $12.6M vs income $1.9M YoY due to non-cash charges
  • All four service lines grew: Services +9%, Leasing +19%, Capital markets +15%, Valuation +9%
  • Sixth consecutive quarter of double-digit Capital markets revenue growth

Financial Impact

Revenue beat by ~$76M; adjusted EPS beat by $0.02

revenueadjusted earnings per shareadjusted EBITDA

Risk Factors

  • Greystone JV equity losses continued ($4.1M in Q1), with potential for further provisions
  • Operating cash flow negative $244M due to working capital timing
  • Pension buy-out and AR securitization costs may recur in future quarters

Market Snapshot

Exchange
NYSE
Sector
Real Estate
Analyst Consensus
67% bullish (15 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001628369-26-000058
Document: cwk-20260507.htm0001628369-26-000058
Document: 0001628369-26-000058-index-headers.html0001628369-26-000058
Document: 0001628369-26-000058-index.html0001628369-26-000058
Document: 0001628369-26-000058.txt0001628369-26-000058
8-K Data (Synthetic)0001628369-26-000058
6 reports for CWK
Performance horizon
Filters
Rows
Reports for CWK — sortable, filterable
Type Now
Jun 4, 2026
5d ago
8-K
MIXED ★ 5/10
$13.27 $13.37▲ +0.75%▲ +3.35%$13.24 (−0.23%)
May 15, 2026
25d ago
8-K
NEUTRAL ★ 3/10
$12.64 $12.59▼ −0.40%▲ +0.25%$13.24 (+4.75%)
May 7, 2026
4w ago
8-K
BULLISH ★ 7/10
$13.85 $14.19▲ +2.45%▲ +1.62%$13.24 (−4.40%)
May 4, 2026
5w ago
8-K
NEUTRAL ★ 4/10
$13.85 $14.53▲ +4.91%▲ +4.11%$13.24 (−4.40%)
Apr 8, 2026
8w ago
8-K
NEUTRAL ★ 3/10
$13.15 $13.22▲ +0.53%▲ +0.59%$13.24 (+0.68%)
Apr 3, 2026
9w ago
DEFA14A
NEUTRAL ★ 3/10
$12.62 $12.70▲ +0.63%▲ +0.57%$13.24 (+4.91%)
Showing 6 of 6

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