Cushman & Wakefield Q3 adjusted EPS beats estimates on leasing growth in Americas

Cushman & Wakefield

Wed 12:12

Overview
US commercial real estate services firm's Q3 adjusted EPS rose 28%, beating analyst expectations
Q3 adjusted net income and adjusted EBITDA both beat analyst expectations
Q3 revenue grew 8% yr/yr, driven by leasing and capital markets growth

Outlook
Company maintains full-year 2026 Adjusted EPS guidance range of 18%-23% growth

Result Drivers
LEASING GROWTH - Leasing revenue rose 15%, led by 19% growth in the Americas and continued strength in office and industrial leasing, including data centers
CAPITAL MARKETS - Capital markets revenue increased 18%, mainly due to 24% growth in the Americas across all major asset classes
SERVICES REVENUE - Services revenue rose 5%, reflecting growth across all segments, led by higher global facilities management and project management revenue, especially in EMEA and APAC

Company press release: ID:nBw6Z5lwFa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
$2.81 bln
 
Q3 Adjusted EPS
Beat
$0.37
$0.36 (10 Analysts)
Q3 EPS
 
$0.22
 
Q3 Adjusted Net Income
Beat
$87.80 mln
$86.49 mln (5 Analysts)
Q3 Net Income
 
$52.10 mln
 
Q3 Adjusted EBITDA
Slight Beat*
$183.70 mln
$183.24 mln (8 Analysts)
Q3 Operating income
Miss
$129.90 mln
$148.13 mln (5 Analysts)
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy"
Wall Street's median 12-month price target for Cushman & Wakefield Ltd is $16.00, about 17.5% above its November 3 closing price of $13.62
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)