Cushman & Wakefield Q1 2021 Earnings Report
Key Takeaways
Cushman & Wakefield reported a slight increase in revenue for Q1 2021, driven by growth in property management and valuation services. However, the company reported a net loss due to the impact of COVID-19 on brokerage activity. Adjusted EBITDA increased significantly due to cost savings and operating efficiency initiatives.
Revenue increased by 1% to $1.9 billion, driven by property management and valuation services.
Net loss was $17.2 million, or $0.08 per share, while adjusted earnings per share was $0.11.
Adjusted EBITDA increased by 42% to $99.7 million, with an adjusted EBITDA margin of 7.5%.
The company generated $60 million of savings through cost reduction actions and tight management of discretionary expenses.
Cushman & Wakefield
Cushman & Wakefield
Cushman & Wakefield Revenue by Segment
Forward Guidance
The company remains well-positioned with a strong balance sheet and significant liquidity to take advantage of growth opportunities during what they anticipate will be an uneven market rebound
Revenue & Expenses
Visualization of income flow from segment revenue to net income