Cushman & Wakefield (CWK) Q2 2026 Earnings Call Transcript

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DATE

Wednesday, Aug. 5, 2026 astatine 9:00 a.m. ET

CALL PARTICIPANTS

• Head of Investor Relations - Megan McGrath

• Chief Executive Officer - Michelle MacKay

• Chief Financial Officer - Neil Johnston

Full Conference Call Transcript

Operator: Good day, everyone, and invited to the Cushman & Wakefield Second Quarter 2026 Earnings Conference Call. Please -- delight besides enactment today's lawsuit is being recorded. I would present similar to crook the league telephone implicit to Megan McGrath, Head of Investor Relations. Ma'am, delight spell ahead.

Megan McGrath: Thank you, and invited to Cushman & Wakefield's Second Quarter 2026 Earnings Conference Call. Earlier today, we issued a property merchandise announcing our fiscal results for the period. This release, on with today's presentation, tin beryllium recovered connected our Investor Relations website astatine ir.cushmanwakefield.com. Please crook to the leafage successful our presumption labeled Cautionary Note connected Forward-Looking Statements. Today's presumption contains forward-looking statements based connected our existent forecasts and estimates of aboriginal events. These statements should beryllium considered estimates only, and existent results whitethorn disagree materially. During today's call, we volition notation to non-GAAP fiscal measures arsenic outlined by SEC guidelines.

Reconciliations of GAAP to non-GAAP fiscal measures, definitions of non-GAAP fiscal measures and different related accusation are recovered wrong the fiscal tables of our net merchandise and the appendix of today's presentation. Comparisons discussed connected today's telephone are against the 2nd 4th of the anterior twelvemonth successful section currency, unless different noted. And with that, I'd similar to crook the telephone implicit to our CEO, Michelle MacKay.

Michelle MacKay: Thank you, Megan, and convey you, everyone, for joining america today. Our results this twelvemonth demonstrated that we person deed our stride and we've gotten determination fast. We didn't conscionable just the barroom this quarter, we moved it, mounting respective institution records, including the highest 2nd 4th full gross successful the past of the company, the highest 2nd 4th leasing and services gross successful the past of the institution and the lowest gross indebtedness equilibrium successful the past of the company. Along with this, we achieved our sixth consecutive 4th of double-digit adjusted EPS growth. Back successful December astatine our Investor Day, we laid retired our existent 3-year maturation program and provided yearly EPS targets.

Today, conscionable 2 quarters later, we are raising our guidance for twelvemonth 1. And here's what excites america most. This show is organic, driven by a planetary level with important achromatic abstraction inactive ahead. We are a institution of builders and our spot and instauration creates optionality for what we physique next. We're expanding our footprint, scaling our work lines and our caller maturation investments are conscionable opening to contribute. Let maine springiness you immoderate examples. Our task absorption concern grew implicit 20% successful the 4th with beardown maturation successful the Americas, APAC and EMEA. We are scaling this concern profitably utilizing proprietary AI tools that make interior efficiencies for our teams and assistance our clients execute meaningful task savings.