Cushman & Wakefield (CWK) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Cushman & Wakefield published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Cushman & Wakefield reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Cushman & Wakefield's revenue includes gross contract costs, reimbursed client costs such as client-dedicated labor and subcontractors, which were $1,119.0 million in Q3 2026 and are booked with matching fees in revenue, mostly in Services.
• On October 21, 2026, after the quarter ended, Cushman & Wakefield redeemed the remaining $150.0 million of its 2028 senior secured notes, leaving no long-term debt maturing before 2030.

Source: Cushman & Wakefield Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Cushman & Wakefield splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Cushman & Wakefield's Americas revenue was $2.1 billion in Q3 2026, up 7% from $1.9 billion in Q3 2025, 73% of total revenue.
• Cushman & Wakefield's EMEA revenue was $270 million in Q3 2026, up 4% from $260 million in Q3 2025, 10% of total revenue.
• Cushman & Wakefield's APAC revenue was $484 million in Q3 2026, up 15% from $423 million in Q3 2025, 17% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Cushman & Wakefield said:

“Maintaining full year 2026 Adjusted EPS guidance range of 18%-23% growth.”

Source: Cushman & Wakefield Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CWK forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Cushman & Wakefield's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Cushman & Wakefield's revenue rose 8% to $2,807.8 million in Q3 2026. It reports four service lines: Services ($1,821.7 million, up 5%), Leasing ($625.9 million, up 15%), Capital markets ($241.3 million, up 18%) and Valuation and other ($118.9 million, flat). Services, which covers facilities and project management, is about 65% of revenue. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

Cushman & Wakefield's Americas segment produced $2,053.9 million of the total. Americas Leasing revenue grew 19% to $527.7 million, with growth across all deal sizes and strength in office and industrial leasing, including data centers, and Americas Capital markets revenue grew 24% to $199.6 million, with growth in all major asset classes. Americas Services revenue rose only 1%, to $1,284.3 million. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

Outside the Americas, APAC revenue rose 15% to $484.4 million, led by Services at $389.2 million, and EMEA revenue rose 4% to $269.5 million, where Services grew 13% while Leasing fell 9% and Capital markets 22%. The release says global facilities management revenue rose about $53.0 million in the quarter, and project management revenue rose about $10.0 million in EMEA and $8.0 million in APAC. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

A large share of revenue is passed-through cost. Gross contract costs, which are reimbursed client costs such as client-dedicated labor, subcontractors and third-party consumables, were $1,119.0 million, up 3%, and are booked gross with the matching fees in revenue. The 10-K describes about 53,000 employees in over 350 offices in nearly 60 countries, roughly 67% of them in the Americas. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026; Cushman & Wakefield Form 10-K, 2025, Feb 19, 2026)

Cushman & Wakefield's diluted EPS was $0.22 in Q3 2026, flat with a year earlier, on net income of $52.1 million. Adjusted EPS was $0.37, up 28% from $0.29, on adjusted net income of $87.8 million. The CEO called it the seventh consecutive quarter of double-digit adjusted EPS growth. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

The adjustments add back $9.4 million of merger and acquisition related depreciation and amortization, $4.9 million of non-operating items related to the Greystone JV, $5.1 million of unrealized losses on investments, $4.2 million of legal settlements and related costs, and $8.8 million of other items. The adjusted figures are taxed at an estimated annual adjusted rate of 26%. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

Taxes explain why GAAP EPS did not grow while pretax earnings nearly doubled, to $83.7 million from $45.1 million. Q3 2026 had a tax provision of $31.6 million, against a benefit of $6.3 million a year earlier that included a release of U.K. valuation allowances. Lower debt helped: net interest expense fell 12% to $49.2 million. Diluted shares were 237.2 million, against 235.9 million. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Cushman & Wakefield guides only on adjusted EPS growth. In the Q3 2026 release it kept its full-year 2026 range of 18% to 23% Adjusted EPS growth and gave no revenue outlook. Nine-month Adjusted EPS was $0.87, against $0.68 a year earlier, a 28% increase. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

The release adds balance sheet context: liquidity of $1.5 billion at September 30, 2026, net debt of $2.1 billion, and $800 million of debt paid down since 2024. Trailing twelve-month free cash flow was $200.2 million. (Cushman & Wakefield Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Cushman & Wakefield, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Cushman & Wakefield's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CWK is on is CWK a buy or a sell?, what analysts expect next is on the CWK forecast, and what the company does is on the Cushman & Wakefield (CWK) stock page.

Every number on this page can be traced to a document Cushman & Wakefield published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.