Cushman & Wakefield plc Earnings Recaps
Q3 2025
Nov 1, 2025
Cushman & Wakefield delivered a record third quarter, achieving substantial growth in leasing and capital markets revenue while significantly reducing debt levels. The company's adjusted earnings per share guidance for 2025 was raised for the second consecutive quarter, indicating robust financial momentum.
Key takeaways
- Third quarter revenue reached $1.8 billion, an 8% increase, with organic revenue growth of 9%.
- Adjusted EBITDA rose 11% to $160 million, with a year-to-date adjusted EBITDA margin improvement of 70 basis points.
- The company repaid $100 million in debt this quarter, totaling $500 million in debt paydown over the last two years.
- Adjusted EPS for Q3 increased 26% year-over-year, from $0.23 to $0.29.
- Significant growth in capital markets, with a year-over-year revenue increase of 20%, driven by strong performance across all asset classes.