NYSE$CWK

Cushman & Wakefield PLC · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Cushman & Wakefield reported financial results for Q4 2021, with revenue increasing by 27% compared to the prior year.

Cushman & Wakefield reported strong Q4 2021 results, with revenue increasing by 27% and adjusted EBITDA increasing by 76%. The company's performance was driven by growth in all segments and service lines, particularly in Capital Markets and Leasing. Strategic investments in Greystone and WeWork were completed during the quarter.

  • Revenue increased by 27% compared to the fourth quarter of 2020.
  • Leasing and Capital markets revenue surpassed pre-pandemic levels.
  • Net income and earnings per share were $146 million and $0.64, respectively.
  • Adjusted EBITDA increased 76% and Adjusted EBITDA margin increased nearly 365 basis points versus the prior year.

Headline financials

Total Revenue

$2.88B

Previous: $1.65B+75.1%
EPS (adj)

$0.94

Previous: $0.43+118.6%
Adjusted EBITDA

$348M

Previous: $198M+75.5%
Adjusted EBITDA Margin

15.7%

Previous: 12.0%+30.8%
Net Income Margin

5.0%

No prior period
Capital Expenditures

$22M

Previous: $14.1M+56.0%
Free Cash Flow

$277M

Previous: $170M+62.9%
Net Income

$146M

Previous: -$27.3M+634.1%
Operating Income

$249M

Previous: $95.5M+161.2%
Gross Profit

$657M

Previous: $470M+39.8%
Cash & Equivalents

$771M

Previous: $1.07B-28.3%
Total Assets

$7.89B

Previous: $7.34B+7.5%
Stock-Based Comp

$22.6M

Previous: $7.7M+193.5%

Revenue & EPS history

Cushman & Wakefield · Revenue · Quarterly

$2.88B

Q4 2021+75.1%vs Q4 2020
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Cushman & Wakefield · $1.37B total across 3 segments · Q4 2021

  • Leasing
    $640M+64.5%
  • Capital Markets
    $572M+79.0%
  • Valuation & Other
    $157M+10.3%

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 Q4 2021

Historical avgQ4 2021

-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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