Cushman & Wakefield plc

Good day, everyone, and welcome to the Cushman & Wakefield second quarter 2026 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one on your touchtone phones. To withdraw your questions, you may press star and two. Please also note today's event is being recorded. I would now like to turn the conference call over to Megan McGrath, head of investor relations. Ma'am, please go ahead.

Thank you and welcome to Pushman & Wakefield's second quarter 2026 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.pushmanwakefield.com. Please turn to the page in 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 in the appendix of today's presentation. Comparisons discussed on today's call are against the second quarter of the prior year in local currency unless otherwise noted. And with that, I'd like to turn the call over to our CEO, Michelle MacKay.

Thank you, Megan, and thank you everyone for joining us today. Our results this year demonstrated that we have hit our stride and we've gotten there fast. We didn't just meet the bar this quarter, we moved it, setting several company records, including the highest second quarter total revenue in the history of the company, the highest second quarter leasing and services revenue in the history of the company, and the lowest gross debt balance In the history of the company. Along with this, we achieved our sixth consecutive quarter of double digit adjusted EPS growth. Back in December, at our investor day, we laid out our current three year growth plan and provided annual EPS targets. Today, just two quarters later, we are raising our guidance for year one. And here's what excites us most. This performance is organic, driven by a global platform with significant white space still ahead. We are a company of builders, and our strength and foundation creates optionality for what we build next. We're expanding our footprint, scaling our service lines, and our recent growth investments are just beginning to contribute. Let me give you some examples. Our project management business grew over 20% in the quarter with strong growth in the Americas, APAC and EMEA. We are scaling this business profitably using proprietary AI tools that create internal efficiencies for our teams and help our clients achieve meaningful project savings. Our leasing business is a consistent standout. The results of pairing global strategic advisory with precise local execution. We are gaining share globally as we advise on some of the largest and most complex leasing transactions in the world. And we continue to build our platform in high growth asset classes. Our data center work is diversified and expanding with data center related revenue up 83% year to date. And while we have strong transactional presence, integrated facilities management is actually the largest of our data center businesses and 25% of our pipeline in the broader IFM business is now data center related. What's exciting about all of these initiatives and many more in process is that we're just getting started. Year one of our current three year growth plan has confirmed we're building momentum and we are more confident than ever and our ability to deliver strong value for our shareholders. Now, I'll turn the call over to Neil to walk you through the numbers.