Earnings Per Share

3 Months Ended

Mar. 31, 2026

Note 4: Earnings Per Share

Earnings (loss) per share (“EPS”) is calculated by dividing Net loss or income by the weighted average shares outstanding.

As the Company was in a Net loss position for the three months ended March 31, 2026, the Company determined all potentially dilutive shares would be anti-dilutive in this period, and therefore these shares were excluded from the calculation of diluted weighted average shares outstanding. This resulted in the calculation of weighted average shares outstanding being the same for both basic and diluted EPS for the three months ended March 31, 2026. Approximately 2.7 million potentially dilutive shares for the three months ended March 31, 2026 were excluded from the computation of diluted EPS because their effect would have been anti-dilutive.

The following is a calculation of EPS (in millions, except per share amounts):


	Three Months Ended March 31,
	2026		2025
Basic EPS
Net (loss) income	$	(12.6)	$	1.9
Weighted average shares outstanding for basic (loss) earnings per share	232.8		230.4
Basic (loss) earnings per share attributable to common shareholders	$	(0.05)	$	0.01
Diluted EPS
Net (loss) income	$	(12.6)	$	1.9
Weighted average shares outstanding for basic (loss) earnings per share	232.8		230.4
Dilutive effect of restricted stock units	—		1.9
Weighted average shares outstanding for diluted (loss) earnings per share	232.8		232.3
Diluted (loss) earnings per share attributable to common shareholders	$	(0.05)	$	0.01

Cushman & Wakefield Ltd. 10-Q