Cushman & Wakefield's stock plummeted 5.53% during intraday trading on Thursday, marking a significant reversal from its earlier pre-market gains.

The sharp decline followed the company's release of its fourth-quarter and full-year 2025 financial results. While adjusted earnings per share of $0.54 met analyst expectations and service line fee revenue of $2.04 billion exceeded estimates, the report revealed a net loss of $22.4 million for the quarter. This loss was primarily driven by a one-time, other-than-temporary impairment charge of $177 million related to the company's equity method investment in Cushman Wakefield Greystone LLC.

Investor sentiment shifted negatively upon digesting the details of the impairment, overshadowing the positive aspects of the report which included year-over-year growth in adjusted EBITDA and revenue. The stock had initially traded higher in the pre-market session following the headline earnings beat.