Cushman & Wakefield Reports Financial Results for First Quarter 2020
(WorldNews Europe)

CHICAGO--(BUSINESS WIRE)-- Cushman & Wakefield (NYSE: CWK) today reported financial results for the first quarter ended March 31, 2020: Revenue for the first quarter of 2020 of $1.9 billion was flat (up 1% local currencyi) from first quarter of 2019. Fee revenue of $1.3 billion was down 4% (2% local currency) versus the prior year. Net loss and loss per share for the first quarter of 2020 was $55.1 million and $0.25, respectively. Adjusted earnings per share was 3 cents. Adjusted EBITDA was $70.3 million, down 20% (19% local currency) from first quarter of 2019. Adjusted EBITDA margin of 5.3% was down from 6.4%. Liquidity as of the end of March was $1.4 billion consisting of cash on hand of...