Cushman & Wakefield reports Q3 adjusted EPS 21c, consensus 20c

Reports Q3 revenue $2.3B, consensus $2.35B. “In the third quarter we continued to execute on our strategy by refinancing more than $1 billion in debt, improving our free cash flow and accelerating our cost efficiency efforts, resulting in sequential EBITDA and margin improvement despite the challenging operating backdrop,” said Michelle MacKay, Cushman & Wakefield Chief Executive Officer. “In this complex and evolving built world our teams are providing compelling solutions and outstanding execution to our clients. Looking ahead, we’re focused on creating additional flexibility and optionality in our business. Our differentiated, client-centric approach, combined with our proprietary data and insights and dedicated team, will allow C&W to better anticipate market trends as the market recovers, and capture first-mover advantage where and when it really matters.”