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EX-99.1

2 cwk-ex991q12026.htm

EX-99.1

Document

Exhibit 99.1

For Immediate Release

Cushman & Wakefield Reports Financial Results for the First Quarter 2026

Reported highest first quarter revenue in company history

Robust Leasing revenue growth of 19% (17% in local currency)

Sustained momentum in Services with 9% (7% in local currency) growth

NEW YORK (BUSINESS WIRE), May 7, 2026 — Cushman & Wakefield Ltd. (NYSE: CWK) today reported financial results for the first quarter of 2026.

First Quarter Results:

•Revenue of $2.5 billion for the first quarter of 2026 increased 11% (9% in local currency) from the first quarter of 2025.

◦Services revenue increased 9% (7% in local currency), reflecting sustained momentum across all segments, led by higher facilities management and project management revenue.

◦Leasing revenue increased 19% (17% in local currency), driven primarily by growth in the Americas across all deal sizes, with continued strength in office and industrial leasing, including data centers.

◦Capital markets revenue increased 15% (14% in local currency), marking our sixth consecutive quarter of double-digit growth. Americas Capital markets, up 22% (22% in local currency), saw solid performance in the office sector.

◦Valuation and other revenue increased 9% (4% in local currency).

•Net loss was $12.6 million for the first quarter of 2026 compared to net income of $1.9 million for the first quarter of 2025, a decline of $14.5 million. Diluted loss per share was $0.05 for the first quarter of 2026, down $0.06, compared to diluted earnings per share of $0.01 for the first quarter of 2025.

◦Recognized a non-cash settlement loss of $16.6 million related to a pension buy-out arrangement in the United Kingdom (“U.K.”) and a non-cash servicing liability of $11.8 million related to the amendment of our revolving accounts receivables securitization program (the “A/R Securitization”).

◦Adjusted EBITDA of $111.3 million increased $15.1 million or 16% (15% in local currency) from the first quarter of 2025.

◦Adjusted net income of $34.7 million increased $14.2 million or 69% from the first quarter of 2025.

◦Adjusted diluted earnings per share of $0.15 was up $0.06 or 67% from the first quarter of 2025.

•Liquidity as of March 31, 2026 was $1.6 billion, consisting of availability on the company’s undrawn revolving credit facility of $1.0 billion and cash and cash equivalents of $0.6 billion.

“Our first quarter results reflect a strong start to 2026 as we continue to execute toward the long-term targets we introduced at our 2025 Investor Day in December. We reported the highest first quarter revenue in company history, with continued momentum across all of our service lines. We are driving operating leverage as we scale the platform and driving consistent value through capital structure improvements, leading to 67% Adjusted earnings per share growth in the quarter,” said Michelle MacKay, Chief Executive Officer of Cushman & Wakefield. “As clients increasingly turn to integrated, multi-service partners, we are capturing opportunities in the market through our ability to lead through market transformation. Our strategy is delivering results and we are focused on generating durable, long-term growth for our shareholders.”

INVESTOR RELATIONSMEDIA CONTACT

Megan McGrathAixa Velez

Investor RelationsCorporate Communications

+1 312 338 7860+1 312 424 8195

ir@cushwake.com aixa.velez@cushwake.com

May 7, 2026

Page 2

Consolidated Results (unaudited)

Three Months Ended March 31,

(in millions, except per share data) 20262025% Change in USD % Change in Local Currency(4)

Revenue:

Services$1,742.7$1,603.69 %7 %

Leasing497.7418.419 %17 %

Capital markets181.6157.915 %14 %

Valuation and other113.8104.79 %4 %

Total revenue$2,535.8$2,284.611 %9 %

Costs and expenses:

Gross contract costs(1) $1,089.7$979.711 %10 %

Cost of services provided to clients1,025.4920.611 %8 %

Total costs of services2,115.11,900.311 %9 %

Operating, administrative and other336.7305.810 %8 %

Depreciation and amortization25.326.7(5)%(8)%

Restructuring, impairment and related charges—6.5(100)%(100)%

Total costs and expenses2,477.12,239.311 %9 %

Operating income58.745.330 %31 %

Interest expense, net of interest income(49.2)(52.3)(6)%(7)%

(Loss) earnings from equity method investments(4.1)11.1n.m.n.m.

Other (expense) income, net(15.0)0.9n.m.n.m.

(Loss) earnings before income taxes(9.6)5.0n.m.n.m.

Provision for income taxes3.03.1(3)%(3)%

Net (loss) income$(12.6)$1.9n.m.n.m.

Adjusted EBITDA(2) $111.3$96.216 %15 %

Adjusted net income(2) $34.7$20.569 %

Weighted average shares outstanding, basic232.8230.4

Weighted average shares outstanding, diluted(3) 235.5232.3

(Loss) earnings per share, basic $(0.05)$0.01

(Loss) earnings per share, diluted(3) $(0.05)$0.01

Adjusted earnings per share, diluted(2) $0.15$0.09

n.m. not meaningful

(1) Gross contract costs represents reimbursed client costs including client-dedicated labor, su

cwk-202602190001628369false00016283692026-02-192026-02-19

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 19, 2026

Cushman & Wakefield Ltd. (Exact name of registrant as specified in its charter)

Bermuda001-3861198-1896559 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.) Canon’s Court, 22 Victoria Street Hamilton HM 12, Bermuda

(Address of principal executive offices) (Zip Code)

+1 441 298 3300

(Registrant’s telephone number, including area code)

Not applicable (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Shares, $0.10 par valueCWKNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02  Results of Operations and Financial Condition. On February 19, 2026, Cushman & Wakefield Ltd. (the “Company”) issued a press release reporting its financial results for the fourth quarter and full year of 2025. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information contained in this Item 2.02, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. Item 7.01 Regulation FD Disclosure. On February 19, 2026, the Company will hold an investor conference webcast to discuss its financial results for the fourth quarter and full year of 2025. The Company will also make available an investor presentation on the Investor Relations section of its website at https://ir.cushmanwakefield.com/events-and-presentations/. Item 9.01  Financial Statements and Exhibits. (d) Exhibits

Exhibit No. Description 99.1 * Press Release of Financial Results for the Fourth Quarter and Full Year 2025

104Cover Page Interactive Data File (formatted as Inline XBRL)

* Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CUSHMAN & WAKEFIELD LTD.

Date: February 19, 2026 /s/ Laurida Sayed Laurida Sayed Chief Accounting Officer