Filing Flows › Cushman & Wakefield (CWK) › Q2 2026 › vs Q1 2026
Cushman & Wakefield (CWK) Q2 2026 vs Q1 2026 (quarter over quarter)
Cushman & Wakefield's revenue rose $227M (+9%) from $2.5B in Q1 2026 to $2.8B in Q2 2026. The biggest changes: Americas +$169M (+9%); APAC +$33.0M (+8%); EMEA +$25.0M (+9%). Operating margin 4.9% against 2.3% (+2.5 pts).
Cushman & Wakefield, Q2 2026: revenue $2.8B (+11% year over year), operating margin 4.9%, net earnings $52.7M, operating cash flow $54.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 4.9% | 2.3% | +2.5 pts |
| Net margin | 1.9% | -0.5% | +2.4 pts |
| Free cash flow margin | 1.6% | -10.1% | +11.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Americas | $2.0B | $1.8B | $169M | +9% |
| APAC | $470M | $437M | $33.0M | +8% |
| EMEA | $295M | $270M | $25.0M | +9% |
| Revenue | $2.8B | $2.5B | $227M | +9% |
| Operating profit | $134M | $58.7M | $75.5M | +129% |
| Costs & expenses | $2.6B | $2.5B | $151M | +6% |
| Pre-tax earnings | $77.3M | −$9.6M | $86.9M | — |
| Other expense, net | $56.9M | $68.3M | −$11.4M | -17% |
| Cost of revenue | $2.3B | $2.1B | $136M | +6% |
| SG&A | $349M | $337M | $12.6M | +4% |
| Other operating costs | $28.5M | $25.3M | $3.2M | +13% |
| Net earnings | $52.7M | −$12.6M | $65.3M | — |
| Income tax | $24.6M | $3.0M | $21.6M | +720% |
| Depreciation & amortization | $28.5M | $25.3M | $3.2M | +13% |
| Share-based compensation | $12.7M | $16.3M | −$3.6M | -22% |
| Working capital & other | $39.9M | $272M | −$233M | -85% |
| Operating cash flow | $54.0M | −$244M | $298M | — |
| Free cash flow (OCF − capex) | $45.5M | −$256M | $301M | — |
| Capital expenditures | $8.5M | $12.2M | −$3.7M | -30% |
Questions
How much did Cushman & Wakefield's revenue grow quarter over quarter in Q2 2026?
Cushman & Wakefield's revenue rose $227M (+9%) from $2.5B in Q1 2026 to $2.8B in Q2 2026.
What drove Cushman & Wakefield's revenue change in Q2 2026?
Americas +$169M (+9%); APAC +$33.0M (+8%); EMEA +$25.0M (+9%).