Colliers Intl Group Inc Stock Price, News & Analysis

Lingerfelt and Colliers have announced a 106,376 square-foot lease with PECO Pallet at Port 801 in Colonial Heights, VA, bringing the building to 100% occupancy. This new facility will serve as PECO's primary location for the greater Richmond area, extending to Fairfax, Norfolk, and West Virginia. The state-of-the-art warehouse, completed in Q4 2022, aligns with PECO's sustainability goals and allows for the deployment of automated sorting equipment to enhance safety and operational efficiency.

PECO Pallet, one of North America's largest rental pallet service providers, operates a network of 90 pallet depots managing over 20 million pallets. This expansion reflects the company's growth and commitment to providing superior pallet pooling services while emphasizing sustainability in the supply chain industry.

Colliers (NASDAQ, TSX: CIGI) has announced that its Engineering & Design Australia division will acquire Pritchard Francis Consulting, a leading Western Australian multi-discipline engineering consulting firm. This strategic move expands Colliers' geographic presence, scale, and service capabilities in Australia. Key points:

• Pritchard Francis, founded in 1977, has 125 professionals providing civil and structural engineering services
• The acquisition aligns with Colliers' goal to become a premier engineering consulting firm in Australia
• Pritchard Francis will rebrand as 'Colliers Engineering & Design' and integrate into Colliers' operations
• Senior leadership of Pritchard Francis will continue to lead the business and become shareholders in Colliers Engineering

The transaction is expected to close by the end of 2024, subject to customary conditions. Financial terms were not disclosed.

Colliers International Group Inc. (NASDAQ and TSX: CIGI) reported solid second quarter results for the period ended June 30, 2024. The company saw growth across all service lines and segments, with revenues reaching $1.14 billion, up 6% from the previous year. Adjusted EBITDA increased by 6% to $155.6 million, while Adjusted EPS stood at $1.36. GAAP operating earnings rose significantly to $114.7 million, with diluted net earnings per share at $0.73.

The company maintained its financial outlook for the year, citing solid performance in Leasing revenues and modest growth in Capital Markets. Colliers also completed the acquisition of Englobe, expanding its high-value recurring revenue streams, which now represent 72% of earnings.

Colliers (NASDAQ, TSX: CIGI) has successfully completed its acquisition of a controlling interest in Englobe , a prominent Canadian engineering, environmental, and inspection services firm. This strategic move marks Colliers' entry into the Canadian engineering market and significantly enhances its capabilities in its growing Engineering division.

The acquisition, previously announced and now finalized, aligns with Colliers' strategy to diversify its professional services and investment management portfolio. By integrating Englobe's multi-discipline expertise, Colliers is poised to strengthen its position in the engineering sector and expand its service offerings in Canada.

Colliers International Group (TSX & NASDAQ: CIGI) announced its Q2 2024 results will be released on August 1, 2024, at 7:00am ET. A conference call to discuss the results will occur the same day at 11:00am ET, hosted by key executives including Global Chairman & CEO Jay S. Hennick. The call can be accessed via phone or webcast, with rebroadcasts available for 30 days following the event. Details for participation and access are provided on their corporate website.

Colliers has partnered with SPGI Zurich AG to strengthen its footprint in Europe. Effective July 10, 2024, this alliance with the Swiss commercial property advisor aims to expand Colliers' EMEA platform. SPGI Zurich, a member of the Intercity Group, has a team of over 25 professionals and offers a comprehensive range of real estate services. The partnership will enhance services for investors and occupiers in Switzerland, covering Zurich, Basel, Lausanne, and Geneva. Notable team members include Robert Hauri, Dr. Martin Greiner, Natalia Ignatova, and Gabriela Brandenberg. This strategic move aligns with Colliers' core values and is expected to increase market share and service capabilities for both companies.

Diamondhead Casino (DHCC) has retained Colliers to assist in marketing and financing its Diamondhead, Mississippi property or to sell it partially or entirely. The 400-acre site, situated along Interstate 10 and the Bay of St. Louis, has high visibility, with over 18 million vehicles passing annually. It is zoned for a casino resort, and the Mississippi Gaming Commission has approved a 50-acre gaming site on the property. Colliers aims to attract potential buyers for this prime gaming location. Additionally, DHCC's subsidiary, Mississippi Gaming , settled an eminent domain dispute with Cooperative Energy for $1 million, receiving $845,378 to date.

Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) announced that Tony Horrell, the CEO of the UK and Ireland, will retire in 2025. Tony has had a 42-year career in real estate and joined Colliers in 2010. Under his leadership, the UK and Ireland business expanded significantly, growing to over 1,000 employees and diversifying across transactional and advisory services. Colliers has begun the search for a new CEO, and Tony will remain in his position until a successor is appointed. Tony expressed pride in the company's achievements and looks forward to assisting in the transition and maintaining strategic client relationships in 2025.

Colliers (NASDAQ and TSX: CIGI) released its fourth annual Global Sustainability Report, highlighting significant 2023 achievements. Key points include a 24.8% reduction in Scope 1 and 2 emissions per square foot from a 2021 baseline, validation of emissions targets by the Science Based Targets initiative, and an increase in women in management roles to 33.5%. The report also notes that 35% of Colliers offices larger than 2,500 sq. ft. achieved a WELL Health-Safety rating, a significant rise from 10% in 2022. Additionally, the company tripled its electric vehicle fleet and contributed 5,819 volunteer days. Colliers emphasizes that these efforts, amidst economic and geopolitical uncertainty, will accelerate success and create value for stakeholders.