Overview

* Cushman & Wakefield ( CWK ) Q2 revenue grows 9% yr/yr to $2.5 bln

* Adjusted EPS beats analyst expectations, reflecting strategic initiatives

* Co announces $150 mln term loan debt repayment, fortifying balance sheet

Outlook

* Cushman & Wakefield ( CWK ) raises full-year earnings per share outlook

Result Drivers

* CAPITAL MARKETS - Revenue increased 27%, driven by strong performance across asset classes in the Americas

* LEASING REVENUE - Increased 8%, supported by strength in office and industrial sectors in the Americas and EMEA

* SERVICES REVENUE - Organic growth of 6%, excluding impact of non-core business sale

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $2.48

Revenue bln

Q2 Beat $0.3 $0.22 (9

Adjusted Analysts

EPS )

Q2 EPS $0.25

Q2 Beat $69.50 $45.70

Adjusted mln mln (7

Net Analysts

Income )

Q2 Net $57.30

Income mln

Q2 Beat $161.70 $141.90

Adjusted mln mln (7

EBITDA Analysts

)

Q2 Beat $122.80 $107.90

Operatin mln mln (5

g income Analysts

)

Q2 9.5%

Adjusted

EBITDA

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and 1 "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 PLC ( CWK ) is $12.00, about 2.7% below its August 4 closing price of $12.32

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

(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.)