Filing Flows › Cushman & Wakefield (CWK) › Q3 2026 › vs Q2 2026
Cushman & Wakefield (CWK) Q3 2026 vs Q2 2026 (quarter over quarter)
Cushman & Wakefield's revenue rose $45.2M (+2%) from $2.8B in Q2 2026 to $2.8B in Q3 2026. The biggest changes: Americas +$56.1M (+3%); EMEA −$25.6M (-9%); APAC +$14.7M (+3%). Operating margin 4.6% against 4.9% (-0.2 pts).
Cushman & Wakefield, Q3 2026: revenue $2.8B (+8% year over year), operating margin 4.6%, net earnings $52.1M, operating cash flow $214M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 4.6% | 4.9% | -0.2 pts |
| Net margin | 1.9% | 1.9% | -0.1 pts |
| Free cash flow margin | 6.3% | 1.6% | +4.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Americas | $2.1B | $2.0B | $56.1M | +3% |
| APAC | $484M | $470M | $14.7M | +3% |
| EMEA | $270M | $295M | −$25.6M | -9% |
| Revenue | $2.8B | $2.8B | $45.2M | +2% |
| Operating profit | $130M | $134M | −$4.3M | -3% |
| Costs & expenses | $2.7B | $2.6B | $49.5M | +2% |
| Pre-tax earnings | $83.7M | $77.3M | $6.4M | +8% |
| Other expense, net | $46.2M | $56.9M | −$10.7M | -19% |
| Cost of revenue | $2.3B | $2.3B | $70.9M | +3% |
| SG&A | $330M | $349M | −$19.7M | -6% |
| Other operating costs | $26.8M | $28.5M | −$1.7M | -6% |
| Net earnings | $52.1M | $52.7M | −$600K | -1% |
| Income tax | $31.6M | $24.6M | $7.0M | +28% |
| Depreciation & amortization | $26.8M | $28.5M | −$1.7M | -6% |
| Share-based compensation | $12.3M | $12.7M | −$400K | -3% |
| Working capital & other | $123M | −$39.9M | $163M | — |
| Operating cash flow | $214M | $54.0M | $160M | +296% |
| Free cash flow (OCF − capex) | $176M | $45.5M | $131M | +287% |
| Capital expenditures | $37.8M | $8.5M | $29.3M | +345% |
Questions
How much did Cushman & Wakefield's revenue grow quarter over quarter in Q3 2026?
Cushman & Wakefield's revenue rose $45.2M (+2%) from $2.8B in Q2 2026 to $2.8B in Q3 2026.
What drove Cushman & Wakefield's revenue change in Q3 2026?
Americas +$56.1M (+3%); EMEA −$25.6M (-9%); APAC +$14.7M (+3%).