Cushman & Wakefield Ltd.

htm EX-99.1 Document Exhibit 99.1 For Immediate Release Cushman Wakefield Reports Financial Results for the Second Quarter 2025 Capital markets revenue growth of 27% (26% in local currency), marking third straight quarter of double-digit year-over-year growth Leasing revenue growth of 8%, with strength across all major asset classes Continued acceleration of Services revenue growth Announced an additional $150.0 million term loan debt repayment NEW YORK (BUSINESS WIRE), August 5, 2025 Cushman Wakefield (NYSE CWK) today reported financial results for the second quarter of 2025.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

We also continue to focus on fortifying our balance sheet and this morning have announced an additional $150 million debt paydown, said Michelle MacKay, Chief Executive Officer of Cushman Wakefield.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Liquidity as of June 30, 2025 was $1.7 billion, consisting of availability on the Company s undrawn revolving credit facility of $1.1 billion and cash and cash equivalents of $0.6 billion.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Capital markets revenue increased 27%, primarily driven by strong performance across all asset classes in the Americas, and as healthy fundamentals, such as improved debt availability and asset pricing corrections, supported a resilient transaction environment across most major markets.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Earnings from equity method investments Earnings from equity method investments of $0.2 million decreased $4.1 million compared to the three months ended June 30, 2024, primarily due to a decline of $4.1 million in earnings recognized from our equity method investment in Cushman Wakefield Greystone LLC (the Greystone JV ) driven by changes in mix of mortgage loan origination volumes compared to the second quarter of 2024, contributing to a lower value of mortgage servicing rights ( MSRs ), and higher provisions for credit losses for mortgage loans due to expected losses on specific loans, loan repurchases and higher risk-sharing obligations.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Capital markets revenue was strong across all segments as improved debt availability and built-up demand continued to positively impact investment sales activity in the first half of 2025, led by the Americas.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

We also continue to focus on fortifying our balance sheet and this morning have announced an additional $150 million debt paydown, said Michelle MacKay, Chief Executive Officer of Cushman Wakefield.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Operating, administrative and other Operating, administrative and other expenses of $318.3 million increased $24.1 million or 8% compared to the three months ended June 30, 2024, primarily driven by an increase in employment costs of approximately $19.0 million, including an increase in stock-based compensation expense as a result of the modification of our non-executive chairman s awards in 2024 (which reduced expense in the prior year period), as well as strategic investments and cost inflation.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

The $43.8 million increase in net income was principally driven by growth in our Services, Leasing and Capital markets service lines, as well as the impact of our cost savings initiatives, lower interest expense and lower depreciation and amortization expense.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

These favorable trends were partially offset by higher stock-based compensation expense, strategic investments, cost inflation and lower earnings recognized from the Greystone JV.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Operating, administrative and other Operating, administrative and other expenses of $624.1 million increased $33.9 million or 6% compared to the six months ended June 30, 2024, driven by an approximately $26.0 million increase in employment costs, including an increase in stock-based compensation expense attributable to improved vesting expectations for certain previously granted performance-based equity awards and the modification of our non-executive chairman s awards in 2024 (which reduced expense in the prior year period), as well as strategic investments and cost inflation.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Such statements are also subject to a number of uncertainties and factors outside Cushman Wakefield s control.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Should any Cushman Wakefield estimates, projections and assumptions or these other uncertainties and factors materialize in ways that Cushman Wakefield did not expect, there is no guarantee of future performance and the actual results could differ materially from the forward-looking statements in this press release, including the possibility that recipients may lose a material portion of the amounts invested.

SEC original ↗Cushman & Wakefield Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2025