Cushman & Wakefield (CWK) Upgraded To BB By S&P; Outlook Stable

S&P Global Ratings upgraded Cushman & Wakefield's (CWK) issuer credit rating to 'BB' from 'BB-', citing improved commercial real estate activity and debt reduction. The company's adjusted leverage fell to 3.5x by year-end 2025, with further improvement expected. S&P projects 6%–7% annual revenue growth through 2027, driven by strong leasing and service contracts. The rating agency maintained a 'fair' business risk assessment but noted the firm's strong market position.

Moody's upgraded Cushman & Wakefield's corporate family rating to Ba3 from B1, citing operational momentum and debt reduction. The firm's strong market position, liquidity, and recurring income were highlighted. Moody's maintained a stable outlook, projecting steady EBITDA growth and prudent capital management. Further upgrades depend on sustained leverage and interest coverage ratios.

Cushman & Wakefield (CWK) reported Q2 2026 revenue of $2.8 billion, up 11% in local currency, and adjusted EPS of $0.35, up 17% YoY. Leasing revenue rose 27% in local currency to $628.5 million. Net leverage fell to 3.0x after $150 million debt paydown. 2026 guidance: EPS growth 18% to 23% and revenue growth 6% to 8%.

Cushman & Wakefield plc reported record Q2 2026 total revenue and the lowest gross debt balance in its history, citing organic growth and leasing gains. It raised 2026 annual adjusted EPS growth to 18% to 23% and expects revenue growth at the mid-to-high end of 6% to 8%. Net leverage fell to 3x. Management plans to redeem $150m 2028 notes by mid-2027.

Cushman & Wakefield (C&W) reported Q2 2026 revenue up 11% to $2.8B and adjusted diluted EPS up 17% to 35 cents, beating revenue estimates by 4.6% but missing EPS expectations. The company raised full-year adjusted EPS growth guidance to 18% to 23% and cited record leasing and services revenue, with leasing revenue up 27% to $628.5M.

Cushman & Wakefield (NYSE: CWK) reported Q2 CY2026 revenue of $2.76 billion, up 11.2% year on year and 3.4% above Wall Street estimates. Non-GAAP adjusted EPS was $0.35, in line with consensus. Analysts project revenue growth of 5.8% over the next 12 months and full-year EPS rising from $1.33 to $1.55.