Filing Flows › Cushman & Wakefield (CWK) › Q1 2026
Cushman & Wakefield (CWK) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Cushman & Wakefield (CWK) reported revenue of $2.5B for the first quarter 2026 (Q1 2026), +11% from a year earlier and -13% from the quarter before. Operating margin was 2.3%, net loss $12.6M (0.5% of revenue).
Cushman & Wakefield, Q1 2026: revenue $2.5B (+11% year over year), operating margin 2.3%, net loss $12.6M, operating cash flow −$244M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | -13% | +11% |
| Operating profit | $58.7M | -67% | +30% |
| Net earnings | −$12.6M | — | -763% |
| Operating cash flow | −$244M | -195% | — |
What changed
Revenue was $2.5B in Q1 2026, up 11% year over year and down 13% from the previous quarter. Americas was the largest line at 72% of revenue. Americas added $0.14B year over year (up 8%), 56% of the total change.
Operating profit was $0.06B, a 2.3% margin (up 0.3 points year over year). Of the extra revenue versus Q1 2025, 5% reached operating profit, above the 2% margin then. Total costs grew 11% against revenue growth of 11%. The fastest-growing cost line was Cost of revenue (+11%). The quarter ended with a net loss of $0.01B, narrower than the previous quarter's $0.02B loss. Net interest and other expense of $0.07B was the main reason.
Operating cash flow was −$0.24B. Non-cash charges added back $0.03B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.27B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$0.26B.
Questions
What was Cushman & Wakefield's revenue in the first quarter 2026?
Cushman & Wakefield (CWK) reported revenue of $2.5B for the first quarter 2026 (Q1 2026), +11% from a year earlier and -13% from the quarter before.
Was Cushman & Wakefield profitable in the first quarter 2026?
Operating profit was $58.7M (2.3% of revenue) and net loss $12.6M.