FM Services Lead C&W to Double Digit EPS Growth
Contributed by BSM Staff

NEW YORK -- Led by higher global facilities management revenue, Cushman & Wakefield Ltd. reported its seventh consecutive quarter of double-digit adjusted earnings per share growth.

The provider of commercial real estate services reported a third quarter profit of $52.1 million, or 22 cents a share, on revenues of $2.8 billion, compared to $51.4 million, or 22 cents a share, on revenues of $1.7 billion in the same period last year.

“With $800 million in debt paydowns since 2024 our balance sheet has been transformed, and we enter this next stage of growth with increased strength, stability and optionality,” said Michelle MacKay, CEO of Cushman & Wakefield. “In three years, we have built a more agile and future-ready company, and the opportunity in front of us has never been greater. Our teams have consistently delivered, and we will continue to focus on converting the strength we have built into durable, profitable long-term growth.”

Revenue increased $201.9 million or 8% compared to the three months ended September 30, 2025, primarily driven by Services, Leasing and Capital markets revenue growth of 5%, 15% and 18%, respectively.

Services revenue was strong across all segments, led by higher global facilities management revenue, which increased approximately $53.0 million, including through new client wins and the expansion of existing client mandates, and higher project management revenue, especially in EMEA and APAC, which increased approximately $10.0 million and $8.0 million, respectively.

Cost of services of $6.7 billion increased $618.3 million or 10% compared to the nine months ended September 30, 2025.

The increase in net income was principally driven by growth in Services, Leasing and Capital markets service lines, lower interest expense and higher earnings from equity method investments, partially offset by a higher net unrealized loss on real estate investments, higher income tax expense, strategic investments and cost inflation.

The company has assets of $7.7 billion, and liabilities of $5.6 billion.