Overview
Real estate services firm's Q4 revenue grew 11% yr/yr
Adjusted EPS for Q4 met analyst expectations
Company reported net loss due to $177 mln Greystone JV impairment
Outlook
Company notes healthy demand across all major asset classes
Result Drivers
SERVICES REVENUE - Increased 8% in Q4, led by project management in EMEA and APAC
CAPITAL MARKETS - Revenue rose 17% in Q4, driven by office and retail transactions in the Americas and EMEA
GREYSTONE JV IMPAIRMENT - $177 mln impairment loss led to Q4 net loss
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | $2.91 bln | ||
Q4 Adjusted EPS | Meet | $0.54 | $0.54 (10 Analysts) |
Q4 EPS | -$0.10 | ||
Q4 Adjusted Net Income | Miss | $127.10 mln | $129.94 mln (5 Analysts) |
Q4 Net Income | -$22.40 mln | ||
Q4 Adjusted EBITDA | Slight Beat* | $238.70 mln | $237.63 mln (8 Analysts) |
Q4 Operating income | Miss | $176.90 mln | $200.50 mln (5 Analysts) |
Q4 Adjusted EBITDA Margin | 11.70% |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy"
Wall Street's median 12-month price target for Cushman & Wakefield Ltd is $19.00, about 40.1% above its February 18 closing price of $13.56
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBw7dS49sa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)