Cushman & Wakefield (CWK, Financial) kicked off Q3 with a 14% jump in share price, fueled by rock-solid leasing growth and serious gains in cash flow. The company's leasing revenue surged 13%, led by booming demand in industrial and office spaces across the Americas and APAC. This momentum marked a huge turnaround—especially as the Americas capital markets saw their first growth since 2022. Cushman & Wakefield's focus on efficiency is paying off big, with net cash flow improvements topping $140 million so far this year, sparking a major boost in investor confidence.
CEO Michelle MacKay called this quarter a “turning point” for the company, emphasizing that robust free cash flow enabled them to fully pay off a 2025 term loan way ahead of schedule, cutting their debt load by $200 million this year. Net income flipped from last year's loss to $33.7 million, while earnings per share rose to $0.14. Free cash flow rocketed to $61.1 million, up $146.1 million from last year, leaving Cushman & Wakefield sitting on $1.9 billion in liquidity—a cash cushion that combines reserves with a massive undrawn credit line.
With this financial runway and strategic debt reductions, Cushman & Wakefield is primed for long-term growth in leasing, valuation, and capital markets. MacKay conveyed strong optimism about the company's future, crediting the strategic shifts made over the past year. Now, with liquidity fortified and interest rates lowered on long-term debt, investors can expect Cushman & Wakefield to stay laser-focused on delivering sustainable growth in key markets.
