Share:

Cushman & Wakefield Reports Revenue Growth for First Quarter 2019

5/7/2019
Cushman & Wakefield (NYSE: CWK) today reported financial results for the first quarter ended March 31, 2019

CHICAGO - Cushman & Wakefield (NYSE: CWK) today reported financial results for the first quarter ended March 31, 2019:

  • Revenue for the first quarter of 2019 was $1.9 billion, up 8% (10% local currencyi) from first quarter 2018. Fee revenue was $1.4 billion, up 10% (13% local currency).
  • Net loss for the first quarter of 2019 was $(20.9) million, an improvement of $72.0 million over first quarter of 2018 with Net loss per share of $(0.10). Adjusted earnings per share was $0.10.
  • Adjusted EBITDA was $88.4 million, up 18% (19% local currency) from first quarter 2018. Adjusted EBITDA margin of 6.4% was up 45 bps.

“We are off to a good start in 2019 with continued momentum in the first quarter marked by double-digit growth in Fee revenue and Adjusted EBITDA,” said Brett White, Executive Chairman & CEO. “In addition, we are executing our strategy, making significant progress on our financial, operational and growth objectives. We are on track to generate full-year Adjusted EBITDA of $685 to $735 millionii, consistent with our guidance for 2019.

Click here to view full release. 

(1) See the end of this press release for reconciliations of (i) Fee revenue to revenue; (ii) Fee-based operating expenses to total costs and expenses; (iii) Adjusted EBITDA to net loss; and (iv) Adjusted net income to net loss; and for explanations on the calculations of Adjusted EBITDA margin and Adjusted earnings per share, diluted. See also the definition of, and a description of the purposes for which our management uses these non-GAAP measures under the Use of Non-GAAP Financial Measures section in this press release.

(2) For all periods with GAAP net loss, weighted average shares outstanding, diluted is used to calculate Adjusted earnings per share, diluted.

RELATED STORIES

Netherlands
Paul Warmer Beheer B.V.
Learn More
Cushman & Wakefield Stories
UL Verification • Integrated Facilities Management
Learn More

RELATED INSIGHTS

Discussion3-750x456
Research • Insights

UK Office Pre-let Report - The Race for Space

Pre-letting has become an increasingly important component of the UK office market, especially since the global financial crisis. This report looks at its effect on the London office and UK regional office markets.

Christopher Dunn • 2/4/2019
Research • Insights

Yield compression decelerates in European commercial real estate markets with weaker rental growth forecast

The pace of yield compression decelerated across Europe’s commercial real estate markets in the first quarter of 2019, according to Cushman & Wakefield’s latest DNA of Real Estate report.
Soren Rodian Olsen • 5/15/2019
Building-1-750x456
Research • Insights

Cushman & Wakefield Rent and Yield Matrix Spring 2019

We define a prime investment as being a modern building (third generation and for offices) in a prime location with at least 10 years unexpired on the lease with 5 yearly upward and downward rent reviews.
Peter Waller • 2/27/2019

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.