Every material Form 8-K Cushman & Wakefield filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Cushman & Wakefield reported third-quarter 2025 revenue of $2.6 billion, up 11% from a year earlier, and net income of $51.4 million, compared with $33.7 million. It raised its full-year 2025 adjusted EPS growth guidance to 30%-35%, up from 25%-35%, and prepaid an additional $100 million of term loan debt on October 29, 2025. Equity method earnings fell $20.7 million, mainly due to a $46.1 million non-cash loan loss provision at the Greystone JV, of which the company recorded $18.5 million.
Q3 2025 revenue of $2.6 billion rose 11%; service line fee revenue of $1.8 billion rose 9%
Diluted EPS was $0.22 versus $0.14; adjusted diluted EPS was $0.29 versus $0.23
Full-year 2025 adjusted EPS growth guidance raised to 30%-35% from 25%-35%
Prepaid $100 million on October 29, 2025, bringing 2025 year-to-date prepayments to $300 million
Cushman & Wakefield U.S. Borrower, LLC and DTZ UK Guarantor Limited, both wholly owned subsidiaries of Cushman & Wakefield plc, entered into an amendment effective October 21, 2025 to their existing Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent. The amendment extends the revolving commitments' maturity from April 28, 2027 to October 21, 2030, while reducing the commitments from $1.1 billion to $1.0 billion, which the company said better aligns the facility with its working capital management.
Revolving commitments reduced from $1.1 billion to $1.0 billion.
Maturity extended from April 28, 2027 to October 21, 2030, subject to a springing maturity date if certain conditions occur.
CDOR rate replaced with Term CORRA for revolving borrowings, and applicable interest reduced at certain leverage-based pricing levels.
CFO Neil Johnston said the transaction was oversubscribed.
Cushman & Wakefield's U.S. borrowing subsidiary amended its credit agreement, effective October 1, 2025, lowering the interest rate on about $840 million of term loan due January 2030 from Term SOFR plus 2.75% to Term SOFR plus 2.50%. The company said the maturity and other material terms are unchanged, and it reported $200 million of year-to-date debt repayment, including a $150 million prepayment on August 5, 2025.
Interest rate on about $840 million of term loan cut by 25 basis points, from Term SOFR plus 2.75% to Term SOFR plus 2.50%, effective October 1, 2025
Loan maturity remains January 2030; the amendment makes no other material changes to the credit agreement
Company prepaid $150 million of the term loan on August 5, 2025, bringing 2025 year-to-date repayment to $200 million and repayment since the start of 2024 to $400 million
Cushman & Wakefield reported second-quarter 2025 revenue of $2.5 billion, up 9% from a year earlier, and net income of $57.3 million, compared with $13.5 million in the second quarter of 2024. CEO Michelle MacKay said the company is raising its full-year earnings per share outlook and announced an additional $150.0 million term loan prepayment.
Q2 2025 revenue of $2.5 billion rose 9%; capital markets revenue rose 27% and leasing revenue rose 8%.
Diluted EPS was $0.25 versus $0.06 a year earlier; adjusted diluted EPS was $0.30 versus $0.20.
Management is raising its full-year earnings per share outlook; the filing does not give a new figure.
A $150.0 million term loan prepayment was announced, bringing 2025 year-to-date principal prepayments to $200.0 million.
Cushman & Wakefield U.S. Borrower, LLC amended its credit agreement, effective July 21, 2025, to lower the interest rate on about $948 million of its Term Loan due January 2030 from Term SOFR plus 3.25% to Term SOFR plus 2.75%. The filing says the maturity and other material terms are unchanged, so the change mainly reduces the company's borrowing cost on that loan.
Interest margin reduced by 50 basis points, from Term SOFR plus 3.25% to Term SOFR plus 2.75%
About $948 million of Term Loan outstanding, issued October 2024 and due January 2030
No change to maturity; no other material changes to covenants, events of default or representations
Company prepaid $25 million on June 30, 2025, bringing year-to-date debt repayment to $50 million
Cushman & Wakefield said Chairman Brett White will resign from the board effective July 31, 2025, and will stay on as a strategic consultant through February 28, 2026. Three new directors were named, with Steve Plavin becoming Non-Executive Chairman on October 1, 2025, which shifts board leadership for shareholders.
Brett White resigns from the board effective July 31, 2025; consulting fee of $5,000 per month from August 1, 2025
Susan Daimler joins the board August 1, 2025; Timothy Wennes joins August 1, 2025
Stephen D. Plavin joins the board October 1, 2025 and becomes Chairman; he retires from Blackstone in July 2025
At its May 15, 2025 annual meeting, Cushman & Wakefield plc shareholders approved the Third Amended & Restated 2018 Omnibus Management Share and Cash Incentive Plan, which covers approximately 9.4 million ordinary shares plus any shares that become available again under the plan's terms. The filing also reports results of the director elections, the auditor ratification, and advisory votes on executive pay, which will be held annually.
Plan approved at the May 15, 2025 annual meeting; board adopted it March 27, 2025, subject to shareholder approval
Plan proposal vote: 203,995,759 for, 5,711,651 against, 70,461 abstain, 11,623,703 broker non-votes
KPMG LLP ratified as independent auditor for 2025: 219,671,286 for, 1,635,183 against
Advisory say-on-pay: 206,741,737 for, 2,966,105 against; future votes will be held annually
Cushman & Wakefield reported first-quarter 2025 revenue of $2.3 billion, up 5% from a year earlier, led by Leasing and Capital markets growth. Net income was $1.9 million, compared with a net loss of $28.8 million in the first quarter of 2024, and diluted earnings per share were $0.01 versus a loss of $0.13.
Total revenue of $2.3 billion rose 5% (6% in local currency); service line fee revenue of $1.5 billion rose 3%.
Leasing revenue rose 8% and Capital markets revenue rose 11%, while Services revenue fell 1%, mainly due to an August 2024 sale of a non-core business.
Adjusted EBITDA was $96.2 million, up 23%, with an Adjusted EBITDA margin of 6.2%, a 103 basis point improvement.
In March 2025 the company prepaid $25.0 million of term loans due in 2030; liquidity was $1.7 billion as of March 31, 2025.
Cushman & Wakefield reported fourth-quarter 2024 revenue of $2.6 billion, up 3% from a year earlier, and net income of $112.9 million, compared with $69.8 million in the fourth quarter of 2023. For the full year, revenue was $9.4 billion, down $47.2 million, while net income was $131.3 million versus a net loss of $35.4 million in 2023. Both quarterly and full-year profit improved, with Capital markets and Leasing growth offsetting a decline in Services revenue.
Q4 2024 diluted EPS was $0.48, versus $0.30 in Q4 2023; adjusted diluted EPS was $0.48, up from $0.45.
Full-year 2024 diluted EPS was $0.56, versus a diluted loss of $0.16 in 2023.
Capital markets revenue rose 35% in Q4 2024, while Services revenue declined 3%.
Free cash flow for 2024 was $167.0 million, up $65.8 million from 2023; liquidity was $1.9 billion at December 31, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Cushman & Wakefield filing is on SEC EDGAR ↗. 8-K briefs of other companies →