Cushman & Wakefield (NYSE:CWK), the Chicago-based global commercial real estate services firm, reported a fourth-quarter net loss of $22.4 million, or 10 cents per share, for the period ended December 2025.
The loss was driven primarily by a $177 million other-than-temporary impairment on its equity method investment in the Cushman & Wakefield Greystone joint venture.
On an adjusted basis, excluding one-time gains and costs, the company posted earnings of 54 cents per share, slightly above the average analyst estimate of 53 cents per share from four analysts surveyed by Zacks Investment Research.
Revenue reached $2.91 billion for the quarter, up 11% year-over-year (10% in local currency), surpassing the consensus forecast of $2.77 billion from three analysts surveyed by Zacks.
Service line fee revenue grew 9% to $2 billion, with contributions from services (up 8%), leasing (up 6%), capital markets (up 17%), and valuation and other (up 15%).
For the full year 2025, Cushman & Wakefield reported net income of $88.2 million, or 38 cents per share, on record revenue of $10.29 billion.