Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) reported Q1 2021 revenue of $1.9 billion, a 1% increase year-over-year. Fee revenue reached $1.3 billion, also up 1%. Adjusted EBITDA surged 42% to $99.7 million, with a margin of 7.5%. Despite a net loss of $17.2 million or $0.08 per share, the company achieved $60 million in savings. With $2.0 billion in liquidity, including $1.0 billion in cash, the firm is poised for growth amid recovering market conditions.

Cushman & Wakefield (NYSE: CWK) has appointed Holly Tyson as Chief People Officer, effective May 10. In this role, she will oversee human resources for the company's 50,000 global employees and develop a customer-centric people strategy. Tyson, who previously served as CHRO at Zebra Technologies and DICK’S Sporting Goods, brings over 20 years of HR leadership experience. Her focus will be on fostering an inclusive culture and improving the employee experience post-COVID-19. The firm aims for efficiency and agility under her leadership.

Cushman & Wakefield (NYSE: CWK) has facilitated the procurement of $750 million for the refinancing of Burlingame Point, a premier office campus on the San Francisco Peninsula, on behalf of Kylli, Inc. The financing features a 9.3-year fixed rate and was arranged with prominent financial institutions including Goldman Sachs and J.P. Morgan. Burlingame Point is a LEED Gold-certified property comprising 771,000 rentable square feet and amenities that support innovative business needs. This project exemplifies Cushman & Wakefield's expertise in delivering quality real estate solutions in challenging environments.

Legacy Investing has successfully finalized a lease with Cogent Communications at the newly expanded T5@Minneapolis data center, located at 1001 Third Avenue South, Minneapolis. The facility offers 3.9MW of turnkey capacity, catering to data center tenants. Cogent's addition enhances the ecosystem for current and future tenants, leveraging T5's operational capabilities. This strategic move emphasizes Legacy's focus on mission-critical real estate in the technology sector, supported by its partnership with T5 Data Centers, known for managing substantial data center operations.

Cushman & Wakefield (NYSE: CWK) has been recognized with the 2021 ENERGY STAR Partner of the Year—Sustained Excellence Award for its significant role in energy efficiency and climate change efforts, marking its ninth consecutive year of this recognition. This award is the highest honor from the ENERGY STAR program, highlighting the firm's commitment to creating sustainable environments. With approximately 50,000 employees and 2020 revenues of $7.8 billion, Cushman & Wakefield continues to lead in providing valuable real estate services.

Cushman & Wakefield (NYSE: CWK) earned an All Star distinction from IAOP® for top scores across major categories in The 2021 Global Outsourcing 100® list, marking its 10th consecutive year on the list. The firm excelled particularly in Customer References, reflecting strong client relationships. Additionally, it achieved high marks in Awards and Certifications, Programs for Innovation, and Corporate Social Responsibility (CSR). These recognitions underscore Cushman & Wakefield's commitment to service excellence despite challenges faced by clients in the past year.

Cushman & Wakefield (NYSE: CWK) will announce its Q1 2021 financial results after trading on May 6, 2021, at 4:05 p.m. EDT. A conference call led by management will follow at 5:00 p.m. EDT to discuss these results. Investors can join the call by dialing 1-877-407-9208 (domestic) or 1-201-493-6784 (international) using Conference ID: 13718278. The call will also be available via a live webcast on the company's Investor Relations website, along with an audio replay post-call.

Belfonti Companies and A. Secondino and Son have signed an exclusive listing agreement with Cushman & Wakefield to sell Bittersweet Farm, a 120+-acre development site in Branford, CT. The site is suitable for high-bay warehouse/logistics space and biotech/pharmaceutical offices, capitalizing on the growing demand for last mile distribution centers. Its prime location near I-95 enhances its appeal, with visibility and direct access to major roads.

Market experts predict swift interest in the property due to the increasing need for developable land along I-95.