Cushman & Wakefield plc (CWK) Reports Q3 EPS of $0.45, Revenues Beat
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Cushman & Wakefield Reports Strong Financial Results for Third Quarter 2018
November 13, 2018 4:10 PM ESTCHICAGO--(BUSINESS WIRE)-- Cushman & Wakefield (NYSE: CWK) today reported financial results for the third quarter ended September 30, 2018i and updated its 2018 guidance:
Revenue for the third quarter was $2.1 billion, up 21% (23% local currencyii). Fee revenue was $1.5 billion, up 17% (18% local currency). Net loss decreased $29.9 million to $(48.7) million, with net loss per share of $(0.26) and Adjusted earnings per share of $0.45. Adjusted EBITDA was $179.0 million, up 75% (77% local currency). Adjusted EBITDA margin of 11.9% was up 400 bps driven by Fee revenue mix and operating leverage.... More