Cushman & Wakefield Sets Second-Quarter Revenue Record
Leasing and services revenue was particularly robust, and the brokerage services giant upped its earnings guidance for 2026
By Amanda Schiavo August 5, 2026 11:34 am
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Cushman & Wakefield said Wednesday that its second-quarter earnings were strong enough to boost the commercial real estate services giant’s per-share earnings guidance for the year.
“Our results this year demonstrated that we have hit our stride, and we’ve gotten there fast,” C&W CEO Michelle MacKay said Wednesday during the company’s earnings call. “We didn’t just meet the bar this quarter; we moved it, setting several company records, including the highest second-quarter total revenue in the history of the company, the highest second-quarter leasing and services revenue in the history of the company, and the lowest gross debt balance in the history of the company.”
Revenue for the second quarter of 2026 grew by 11 percent year over year to $2.8 billion, while adjusted diluted earnings per share (EPS) grew 17 percent annually to 35 cents per share. C&W’s revenue for the second quarter of 2026 topped the Zacks Consensus Estimate by 4.6 percent, while EPS just missed the 36 cents per share analysts were expecting.
“We achieved our sixth consecutive quarter of double-digit adjusted EPS growth. Back in December, at our investor day, we laid out our current three-year growth plan and provided annual EPS targets. Today, just two quarters later, we are raising our guidance for year one,” MacKay said during the call. “And here’s what excites us most: This performance is organic, driven by a global platform with significant white space still ahead.”
Annual adjusted earnings per share guidance has been adjusted to reflect expected growth of between 18 percent and 23 percent, compared with C&W’s previous guidance of between 15 percent and 20 percent growth for the year.
Leasing activity was strong this quarter, with leasing revenue growing by 27 percent year-over-year to $628.5 million. This momentum was driven by growing deal sizes in the Americas market, as well as continuing demand in the office, industrial and data center markets.
“Our leasing business is a consistent standout, the results of pairing global strategic advisory with precise local execution,” MacKay said on the call. “We are gaining share globally as we advise on some of the largest and most complex leasing transactions in the world, and we continue to build our platform in high-growth asset classes.”
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
