NYSE$CWK

Cushman & Wakefield PLC · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Cushman & Wakefield reported strong revenue growth across all segments, driven by Leasing and Capital Markets service lines.

Cushman & Wakefield reported a revenue of $2.6 billion for Q2 2022, a 16% increase compared to Q2 2021. Net income was $97.2 million, up 84% from the prior year, and adjusted EBITDA increased by 20% to $262.8 million. The growth was primarily driven by strong performance in Leasing and Capital Markets.

  • Revenue increased by 16% to $2.6 billion compared to the second quarter of 2021.
  • Leasing and Capital Markets grew 22% and 30%, respectively.
  • Net income increased 84% to $97.2 million compared to the second quarter of 2021.
  • Adjusted EBITDA increased 20% to $262.8 million with Adjusted EBITDA margin of 13.7%.

Headline financials

Total Revenue

$2.61B

Previous: $2.25B+16.2%
EPS (adj)

$0.63

Previous: $0.50+26.0%
Adjusted EBITDA

$263M

Previous: $220M+19.5%
Adjusted EBITDA Margin

13.7%

Previous: 13.5%+1.5%
Capital Expenditures

-$30.5M

Previous: -$20.9M-45.9%
Free Cash Flow

$66.7M

Previous: $31.8M+109.7%
Net Income

$97.2M

Previous: $52.7M+84.4%
Operating Income

$177M

Previous: $125M+41.8%
Gross Profit

-$2.08B

Previous: -$1.78B-16.6%
Cash & Equivalents

$477M

Previous: $1.07B-55.6%
Total Assets

$7.73B

Previous: $7.26B+6.6%
Stock-Based Comp

$11.8M

Previous: $10.6M+11.3%

Revenue & EPS history

Cushman & Wakefield · Revenue · Quarterly

$2.61B

Q2 2022+16.2%vs Q2 2021
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Cushman & Wakefield · $2.95B total across 4 segments · Q2 2022

  • Services
    $1.9B+16.6%
  • Leasing
    $553M+21.9%
  • Capital Markets
    $367M+30.2%
  • Valuation & Other
    $128M+2.7%

Forward guidance

No specific forward guidance was provided in the press release.

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 Q2 2022

Historical avgQ2 2022

-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

Earnings price reactions
QuarterReport dateReaction (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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