Cushman & Wakefield plc reported a revenue of $2.54 billion for the first quarter of 2026, marking an 11% increase from $2.28 billion in the same period last year. The growth was driven by a 9% rise in services revenue, primarily due to increased facilities management and project management activities, and a 19% increase in leasing revenue, particularly in the Americas. However, the company recorded a net loss of $12.6 million, a significant decline from a net income of $1.9 million in the first quarter of 2025, largely attributed to a non-cash settlement loss related to a pension buy-out arrangement and a servicing liability from an accounts receivable securitization amendment.
Total costs and expenses rose to $2.48 billion, up 11% from $2.24 billion in the prior year, with costs of services increasing in line with revenue growth. Operating income improved to $58.7 million, a 30% increase from $45.3 million in the previous year. Adjusted EBITDA also saw a 16% increase, reaching $111.3 million, reflecting the company's operational efficiency despite the net loss.
In terms of strategic developments, Cushman & Wakefield has made adjustments to its financial reporting structure effective January 1, 2026, including the elimination of certain non-GAAP measures and a redefinition of gross contract costs to better align with industry standards. The company continues to focus on enhancing its service offerings and expanding its market presence, particularly in the Americas, EMEA, and APAC regions.
Operationally, the company reported a total employee headcount of approximately 53,000 across over 350 offices globally. The Americas segment generated $1.83 billion in revenue, while EMEA and APAC contributed $270.1 million and $436.7 million, respectively. The company’s liquidity position remains strong, with $1.6 billion available, including $1 billion from an undrawn revolving credit facility and $600.6 million in cash and cash equivalents.
Looking ahead, Cushman & Wakefield anticipates continued growth driven by strong demand in commercial real estate, although it remains cautious of macroeconomic challenges such as inflation and geopolitical uncertainties that could impact market conditions. The company is committed to managing its debt effectively and maintaining sufficient liquidity to support its operational and strategic initiatives.
About Cushman & Wakefield plc
Cushman & Wakefield plc is a global commercial real estate services firm offering property management, leasing, capital markets, valuation, and advisory services. Serving owners and occupiers across diverse asset types and regions, it leverages scale, integrated solutions, and a strong brand to deliver value, sustainability, and strategic advice. The company focuses on long-term client relationships, technological innovation, and operational excellence in a highly competitive industry.
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