NYSE$CWK
Cushman & Wakefield PLC · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Cushman & Wakefield's financial performance declined due to a challenging macroeconomic environment impacting transaction volumes, particularly in Leasing and Capital Markets, but was partially offset by growth in Property, facilities and project management.
Cushman & Wakefield reported a decrease in revenue and a net loss for the first quarter of 2023. Revenue decreased by 4% to $2.2 billion, and the company experienced a net loss of $76.4 million, compared to a net income of $45.5 million in the same quarter of the previous year. The decline was primarily due to lower brokerage revenue, particularly in Leasing and Capital Markets, although Property, facilities and project management grew. The company is focused on operating efficiency and cost savings initiatives to navigate the challenging environment.
- Revenue decreased by 4% to $2.2 billion, with service line fee revenue down 12%.
- Net loss was $76.4 million, with a diluted loss per share of $0.34.
- Adjusted EBITDA decreased by 72% to $60.9 million.
- The company generated $21 million of gross cost savings and expects $90 million annualized.
Headline financials
Revenue & EPS history
Cushman & Wakefield · Revenue · Quarterly
$2.25B
Revenue by segment
Cushman & Wakefield · $2.11B total across 4 segments · Q1 2023
- Services$1.5B-11.8%71.2%
- Leasing$363M-20.3%17.2%
- Capital Markets$143M-50.6%6.8%
- Valuation & Other$102M-15.3%4.8%
Forward guidance
Cushman & Wakefield expects to realize annualized gross cost savings of $90 million for the full year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.2%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-2.3%
Avg return
30 days after
42%
15 / 36 earnings
Positive
+16.4%
Q3 2024
Best reaction
-13.9%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.4% | -7.7% | -7.6% | |
| Q4 2025 | -3.2% | +0.1% | -12.7% | |
| Q3 2025 | -2.1% | -5.4% | +1.3% | |
| Q1 2025 | +4.4% | +11.9% | +12.4% | |
| Q4 2024 | -6.0% | -8.9% | -19.8% | |
| Q3 2024 | +16.4% | +14.5% | +16.0% | |
| Q2 2024 | -5.2% | -8.4% | -4.3% | |
| Q1 2024 | -0.7% | +3.1% | +10.8% | |
| Q4 2023 | -13.1% | -14.7% | -11.2% | |
| Q3 2023 | +10.3% | +23.7% | +24.6% | |
| Q2 2023 | +6.1% | +6.9% | -4.6% | |
| Q1 2023 | -13.9% | -17.3% | -7.9% | |
| Q4 2022 | -2.4% | -2.7% | -26.4% | |
| Q3 2022 | -2.4% | -3.0% | +10.3% | |
| Q2 2022 | -4.2% | -5.2% | -12.5% | |
| Q1 2022 | -2.8% | -6.0% | -5.7% | |
| Q4 2021 | +4.5% | -3.6% | -9.0% | |
| Q3 2021 | +6.5% | +2.7% | +0.4% | |
| Q2 2021 | -0.9% | -1.5% | -3.9% | |
| Q1 2021 | +6.7% | +2.3% | +3.3% | |
| Q4 2020 | -9.7% | -13.2% | -3.4% | |
| Q3 2020 | -3.8% | +10.5% | +26.0% | |
| Q2 2020 | +1.8% | +8.3% | +8.1% | |
| Q1 2020 | +3.3% | -9.8% | +23.6% | |
| Q4 2019 | +5.6% | +8.3% | -30.9% | |
| Q3 2019 | -4.5% | -2.3% | -0.9% | |
| Q2 2019 | -6.1% | -11.6% | -15.1% | |
| Q1 2018 | -6.1% | -7.1% | -7.2% | |
| Q1 2019 | -6.2% | -7.4% | -11.8% | |
| Q2 2018 | -1.4% | -0.4% | -5.7% | |
| Q4 2018 | -0.4% | +3.0% | -3.3% | |
| Q3 2017 | +8.5% | +8.4% | -1.4% | |
| Q3 2018 | +13.2% | +11.0% | +4.1% | |
| Q1 2017 | +2.2% | +5.9% | -5.8% | |
| Q2 2017 | +2.2% | +5.9% | -5.8% | |
| Q4 2017 | +2.2% | +4.3% | -5.7% |
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