Earnings Call Summary | Cushman & Wakefield(CWK.US) Q1 2024 Earnings Conference
Earnings Call Summary | Cushman & Wakefield(CWK.US) Q1 2024 Earnings Conference
The following is a summary of the Cushman & Wakefield Plc (CWK) Q1 2024 Earnings Call Transcript:
以下是库什曼和韦克菲尔德有限公司（CWK）2024年第一季度财报电话会议记录的摘要：
Financial Performance:
财务业绩：
Cushman & Wakefield's Q1 fee revenue remained consistent at $1.5 billion compare to the previous year.
Adjusted EBITDA was up 29% from the same period of the previous year, rising to $78 million.
Their adjusted EBITDA margin improved to 5.2% boosted by increased leasing revenue and cost-cutting measures taken in 2023.
Adjusted earnings per share broke even, compared to a $0.04 per share loss from last year.
Q1 overall free cash flow was recorded as a use of $136 million, an improvement from a usage of $231 million in the previous year.
与去年相比，库什曼和韦克菲尔德第一季度的费用收入保持稳定，为15亿美元。
调整后的息税折旧摊销前利润比去年同期增长29％，增至7800万美元。
受租赁收入增加和2023年采取的削减成本措施的推动，他们调整后的息税折旧摊销前利润率提高至5.2％。
调整后的每股收益收支平衡，而去年的每股亏损为0.04美元。
第一季度总自由现金流的使用量为1.36亿美元，较去年的2.31亿美元有所改善。
Business Progress:
业务进展：
Cushman & Wakefield posted another quarter of global leasing growth and notable improvements in capital markets.
The company reported positive trends with a 5% increase in leasing revenue.
Despite struggling, the company foresees a growth acceleration in its services sector in H2 2024.
The firm continues to strengthen its financial position through optional debt prepayments and term loan repricing, diminishing annual cash interest expenses.
The company plans to focus on profitable growth, possibly moving away from contracts that don't provide acceptable margins.
Cushman & Wakefield is planning asset sales, with updates expected later in the year.
Improved leasing activity could bolster project management performance in 2024.
Ongoing discussions are centered on growth vs debt repayment, with a focus on improving its balance sheet and positioning itself to seize recovery opportunities.
The company's debt maturities have been successfully extended to 2030, indicating a strong capital structure and substantial liquidity.
库什曼和韦克菲尔德公布了又一个季度的全球租赁增长和资本市场的显著改善。
该公司报告了积极的趋势，租赁收入增长了5％。
尽管苦苦挣扎，但该公司预计其服务业将在2024年下半年加速增长。
该公司继续通过可选债务预付和定期贷款重新定价来巩固其财务状况，减少年度现金利息支出。
该公司计划将重点放在盈利增长上，可能会放弃利润率不高的合同。
库什曼和韦克菲尔德正计划出售资产，预计将在今年晚些时候公布最新情况。
租赁活动的改善可能会提高2024年的项目管理绩效。
正在进行的讨论以增长与债务偿还为中心，重点是改善其资产负债表和为抓住复苏机会做好准备。
该公司的债务到期日已成功延长至2030年，这表明其强大的资本结构和充足的流动性。
More details: Cushman & Wakefield IR
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