Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) has been awarded the 2022 ENERGY STAR® Partner of the Year—Sustained Excellence Award by the U.S. Environmental Protection Agency and the U.S. Department of Energy. This marks the firm's 10th consecutive year as an ENERGY STAR Partner and 8th year receiving the Sustained Excellence distinction. The recognition highlights the firm’s commitment to helping clients meet sustainability goals and adapt to regulatory changes. In 2021, Cushman & Wakefield reported revenue of $9.4 billion, serving clients in over 400 offices worldwide.

Cushman & Wakefield (NYSE: CWK) reported strong first-quarter results for 2022, with revenue of $2.3 billion, a 21% increase year-over-year, and service line fee revenue rising 27% to $1.7 billion. The firm saw significant growth in Leasing (56%) and Capital Markets (74%). Net income reached $45.5 million with earnings per share of $0.20, up from a loss of $17.2 million last year. Adjusted EBITDA surged 115% to $214.4 million. The company maintains strong liquidity of $1.6 billion and is positioned to drive future growth.

Cushman & Wakefield has arranged three leases totaling 128,000 square feet at VariSpace Las Colinas in Irving, Texas. This Class A multi-tenant workspace, owned by Vari, provides flexible space solutions for tenants. The campus offers 312,000 rentable square feet with modern office amenities and fully customizable spaces. Significant leases include 16,000 sq ft to CAE and 37,000 sq ft to Caris Life Sciences. VariSpace is becoming a preferred choice as companies seek to enhance office environments.

Cushman & Wakefield (NYSE: CWK) released a study titled “Office of the Future Revisited,” analyzing employee preferences for flexible workspaces and increased office demand. The report highlights a 41% year-over-year increase in U.S. office leasing volumes, signaling a return to pre-pandemic levels. It notes that companies embracing hybrid work models, while providing employees with in-office experiences, will thrive. Additionally, office employment in the U.S. is projected to grow 50% faster than total employment by 2030, particularly in tech and finance sectors.

Cushman & Wakefield (NYSE: CWK) has amended its Credit Agreement to raise revolving commitments from $1.0 billion to $1.1 billion, with an extension of the maturity date to April 28, 2027. The amendment aligns with the firm’s sustainability goals, setting targets for reducing greenhouse gas emissions by 50% by 2030 and collaborating with clients to establish science-based targets by 2025. CFO Neil Johnston expressed gratitude to the bank partners for their support and highlighted the importance of ESG in the commercial real estate sector.

Cushman & Wakefield (NYSE: CWK) has successfully arranged a $90 million refinancing deal for Perennial Properties, Inc. concerning the Arya Peachtree, a 282-unit multifamily property located in Atlanta. The refinancing was secured by the Capital Markets team, including notable members Mike Ryan and Blake Cohen. The property has experienced increased demand due to local developments, notably the expansion of Piedmont Hospital. Arya Peachtree is a newly built, 12-story Class A space with significant office and retail spaces, strategically positioned near major employment hubs.

Cushman & Wakefield (NYSE: CWK) has acquired Sheffield Property (WA) Pty Ltd. and Sheffield Asset Management Pty Ltd., enhancing its commercial real estate services in Australia and the Asia Pacific region. Based in Perth, Sheffield specializes in office leasing and property management, having successfully completed leasing campaigns for various developments. This acquisition, announced by CEO Matthew Bouw, aligns with CWK's growth strategy in Western Australia and is expected to bolster its competitive edge and service offerings in the region.

Cushman & Wakefield (CWK) has been recognized as an All Star firm by the International Association of Outsourcing Professionals (IAOP), achieving top scores in all major categories of The 2022 Global Outsourcing 100. The firm notably excelled in Customer References, indicating high client satisfaction, and also received perfect scores in Awards and Certifications, Programs for Innovation, and Corporate Social Responsibility (CSR). This marks 11 consecutive years of accolades for CWK, emphasizing their commitment to service excellence and sustainability.

Cushman & Wakefield (NYSE: CWK) will announce its Q1 2022 financial results on May 5, 2022, at 4:05 p.m. EDT. A conference call will follow at 5:00 p.m. EDT for discussion of the results. The call can be accessed by dialing 1-877-407-9208 (domestic) or 1-201-493-6784 (international) with Conference ID: 13728186. An audio replay will be available on the company's IR website. As a major real estate services firm, Cushman & Wakefield reported $9.4 billion in revenue for 2021, operating in over 400 offices across 60 countries.