Cushman & Wakefield plc (NYSE:CWK) Q4 2022 Earnings Conference Call February 23, 2023 5:00 PM ET

Company Participants

Megan McGrath - Head of IR

John Forrester - CEO

Neil Johnston - CFO

Kevin Thorpe - Chief Economist

Conference Call Participants

Anthony Paolone - JPMorgan

Chandni Luthra - Goldman Sachs

Patrick McIlwee - William Blair

Michael Griffin - Citi

Ronald Kamdem - Morgan Stanley

Operator

Welcome to the Cushman & Wakefield's Fourth Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]

It is now my pleasure to introduce Megan McGrath, Head of Investor Relations for Cushman & Wakefield. Ms. McGrath, you may begin the conference.

Megan McGrath

Thank you, and welcome to Cushman & Wakefield's fourth quarter 2022 earnings conference call. Earlier today, we issued a press release announcing our financial results for the period. This release, along with today's presentation can be found on our Investor Relations website at ir.cushmanwakefield.com.

Please turn to the page on our presentation labeled cautionary note on forward-looking statements. Today's presentation contains forward-looking statements based on our current forecasts and estimates of future events. These statements should be considered estimates only and actual results may differ materially.

During today's call, we will refer to non-GAAP financial measures as outlined by SEC guidelines. Reconciliations of GAAP to non-GAAP financial measures, definitions of non-GAAP financial measures and other related information are found within the financial tables of our earnings release and the appendix of today's presentation. Also, please note that throughout the presentation, comparisons and growth rates are to the comparable periods of 2021, and in local currency unless otherwise stated. For those of you following along with our presentation, we will begin on Page 4.

And with that, I'd like to turn the call over to our CEO, John Forrester.

John Forrester

Thanks, Megan, and thank you to everyone joining our call.

With me today is Neil Johnston, our CFO; and I have also invited Kevin Thorpe our Chief Economist to participate in the Q&A portion of the call to provide insight into our macroeconomic and market outlook.

I am proud of the results we have reported today. And I want to thank our team of exceptional professionals around the world. 2022 was a year like no other. And our team's ability to provide value to our clients in such volatile times is a testament to their hard work and the strategic groundwork that we as a company have been laying to enhance the strength and resiliency of our platform. 2022 was of course a year of two contrasting halves with record results in the first half, offset somewhat by a second half that presented considerable macroeconomic headwinds.