Cushman & Wakefield recently released its latest 10-Q report. The company provides commercial real estate services under the Cushman & Wakefield brand across the Americas, Europe, the Middle East, Africa and Asia Pacific, serving owners and occupiers including tenants, investors and multinational companies. Its offerings include facilities management, project and development work, portfolio and transaction services, leasing, capital markets, valuation and advisory services, along with property management and related support functions.
In Item 2, Management’s Discussion and Analysis, Cushman & Wakefield said its first-quarter 2026 revenue rose 11% to $2.5 billion from the same period a year earlier. Services revenue increased 9%, leasing revenue climbed 19%, capital markets revenue advanced 15% for a sixth straight quarter of double-digit growth, and valuation and other revenue rose 9%.
The quarter still ended in a net loss of $12.6 million, versus net income of $1.9 million in the first quarter of 2025. Diluted loss per share was $0.05, compared with diluted earnings per share of $0.01 a year earlier.
Two non-cash items weighed on results: a $16.6 million settlement loss tied to a U.K. pension buy-out arrangement and an $11.8 million non-cash servicing liability linked to an amendment of the company’s revolving accounts receivables securitization program. Adjusted EBITDA increased 16% to $111.3 million from $96.2 million in the prior-year quarter.
Liquidity stood at $1.6 billion as of March 31, 2026, including $1.0 billion of availability under the undrawn revolving credit facility and $0.6 billion in cash and cash equivalents.
Cushman & Wakefield said demand for its services remains tied to global and regional commercial real estate conditions and noted that inflation, trade policy, tariffs, unemployment, energy costs and foreign-exchange volatility could affect results. It also said geopolitical uncertainty in the Middle East has had a limited impact so far, but could delay brokerage transactions in EMEA and APAC. The company said its reporting changes effective Jan. 1, 2026 did not affect total revenue, consolidated net income or cash flows for prior periods. As a result of these announcements, the company's shares have moved -4.7% on the market, and are now trading at a price of $13.78. For more information, read the company's full 10-Q submission here.
