$CWK
Cushman & Wakefield plc

2024 Q3 Form 10-Q Financial Statement

#000162836924000015 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $2.344B $2.288B
YoY Change 2.55% -4.9%
Cost Of Revenue $1.912B $1.875B
YoY Change 1.58% -5.22%
Gross Profit $432.4M $413.2M
YoY Change 7.06% -3.44%
Gross Profit Margin 18.45% 18.06%
Selling, General & Admin $314.2M $294.2M
YoY Change 4.42% -10.55%
% of Gross Profit 72.66% 71.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.90M $31.20M
YoY Change -20.17% -12.61%
% of Gross Profit 6.68% 7.55%
Operating Expenses $314.2M $294.2M
YoY Change 4.42% -19.31%
Operating Profit $75.20M $70.40M
YoY Change 30.56% 11.22%
Interest Expense $54.90M $60.80M
YoY Change -38.66% -234.81%
% of Operating Profit 73.01% 86.36%
Other Income/Expense, Net $20.60M $3.300M
YoY Change -1130.0% -168.75%
Pretax Income $53.00M $17.20M
YoY Change -406.36% 168.75%
Income Tax $19.30M $3.700M
% Of Pretax Income 36.42% 21.51%
Net Earnings $33.70M $13.50M
YoY Change -199.41% 164.71%
Net Earnings / Revenue 1.44% 0.59%
Basic Earnings Per Share $0.15 $0.06
Diluted Earnings Per Share $0.14 $0.06
COMMON SHARES
Basic Shares Outstanding 229.2M shares 229.0M shares
Diluted Shares Outstanding 233.4M shares 231.5M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $775.4M $567.3M
YoY Change 31.83% 12.94%
Cash & Equivalents $775.4M $567.3M
Short-Term Investments
Other Short-Term Assets $227.9M $376.8M
YoY Change 39.3% 74.04%
Inventory
Prepaid Expenses $227.9M $229.1M
Receivables $1.580B $1.580B
Other Receivables $65.50M $67.50M
Total Short-Term Assets $2.649B $2.592B
YoY Change 1.17% -1.24%
LONG-TERM ASSETS
Property, Plant & Equipment $141.6M $148.2M
YoY Change -11.67% -71.04%
Goodwill $2.049B $2.024B
YoY Change -0.15% -2.38%
Intangibles $703.2M $711.9M
YoY Change -14.54% -15.35%
Long-Term Investments $723.5M $710.5M
YoY Change 4.33% 4.19%
Other Assets $839.5M $739.3M
YoY Change 0.79% 48.19%
Total Long-Term Assets $4.885B $4.751B
YoY Change -1.59% -5.27%
TOTAL ASSETS
Total Short-Term Assets $2.649B $2.592B
Total Long-Term Assets $4.885B $4.751B
Total Assets $7.534B $7.343B
YoY Change -0.64% -3.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.069B $1.032B
YoY Change 1.94% -2.46%
Accrued Expenses $799.9M $671.9M
YoY Change 6.45% -3.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $89.90M $135.6M
YoY Change -21.0% 269.48%
Total Short-Term Liabilities $2.241B $2.135B
YoY Change 1.08% 0.57%
LONG-TERM LIABILITIES
Long-Term Debt $2.997B $3.002B
YoY Change -4.1% -6.96%
Other Long-Term Liabilities $270.0M $253.1M
YoY Change 1.31% -58.65%
Total Long-Term Liabilities $3.267B $3.255B
YoY Change -3.68% -15.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.241B $2.135B
Total Long-Term Liabilities $3.267B $3.255B
Total Liabilities $5.831B $5.704B
YoY Change -2.99% -5.24%
SHAREHOLDERS EQUITY
Retained Earnings -$1.099B -$1.133B
YoY Change -7.43% -1.79%
Common Stock $22.90M $22.90M
YoY Change 0.88% 0.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.702B $1.639B
YoY Change
Total Liabilities & Shareholders Equity $7.534B $7.343B
YoY Change -0.64% -3.89%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $33.70M $13.50M
YoY Change -199.41% 164.71%
Depreciation, Depletion And Amortization $28.90M $31.20M
YoY Change -20.17% -12.61%
Cash From Operating Activities $196.1M $21.80M
YoY Change 4.25% -229.76%
INVESTING ACTIVITIES
Capital Expenditures $9.400M $11.80M
YoY Change -33.8% 11.32%
Acquisitions
YoY Change
Other Investing Activities $66.80M $79.50M
YoY Change -230.98% -3.87%
Cash From Investing Activities $57.40M $67.70M
YoY Change -188.04% -6.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -57.00M -67.60M
YoY Change 9.4% 454.1%
NET CHANGE
Cash From Operating Activities 196.1M 21.80M
Cash From Investing Activities 57.40M 67.70M
Cash From Financing Activities -57.00M -67.60M
Net Change In Cash 196.5M 21.90M
YoY Change 177.54% -49.19%
FREE CASH FLOW
Cash From Operating Activities $196.1M $21.80M
Capital Expenditures $9.400M $11.80M
Free Cash Flow $186.7M $10.00M
YoY Change 7.36% -136.5%

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1200000000 usd
CY2024Q2 cwk Transferors Interests In Transferred Financial Assets Amount Drawn On Investment Limit
TransferorsInterestsInTransferredFinancialAssetsAmountDrawnOnInvestmentLimit
180000000.0 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
567300000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
767700000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
35200000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
33500000 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
2400000 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
604900000 usd
us-gaap Interest Paid Net
InterestPaidNet
137300000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
28200000 usd
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
55800000 usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
9800000 usd
cwk Increase Decrease In Beneficial Interest In Securitization Noncash
IncreaseDecreaseInBeneficialInterestInSecuritizationNoncash
5400000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
18600000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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