Welcome to our dedicated page for Firstservice news (Ticker: FSV), a resource for investors and traders seeking the latest updates and insights on Firstservice stock.
FirstService Corporation (FSV) is a North American property services company whose news flow reflects its role in the essential outsourced property services sector. The company operates through two platforms: FirstService Residential, described as North America’s largest manager of residential communities, and FirstService Brands, one of North America’s largest providers of essential property services delivered through branded company-owned operations and franchise systems.
News about FirstService often includes financial results and capital markets updates, such as quarterly earnings releases and announcements of upcoming results. For example, the company has announced dates for releasing fourth quarter and annual results and regularly furnishes earnings press releases via Form 6-K. Dividend declarations, including quarterly cash dividends on common shares, are another recurring topic in its news.
Coverage related to FirstService Residential highlights new property management contracts, portfolio expansions, and recognition in local markets. Recent releases describe full-service management agreements for high-rise residential communities in regions such as New England, Pennsylvania, and New Jersey, as well as awards in contests like the Miami Herald’s Miami-Dade Favorites. Leadership appointments within FirstService Residential, including roles focused on master-planned communities and residential hospitality, also feature in the company’s news.
News tied to the FirstService Brands platform and subsidiaries such as Roofing Corp of America includes executive appointments and updates on service capabilities. Collectively, these items provide insight into FirstService’s growth, operational focus, and property services footprint across North America. Investors and stakeholders can use this news stream to follow developments in the company’s residential management operations, property services brands, and financial performance over time.
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FirstService Corporation (TSX: FSV; NASDAQ: FSV) reported a strong financial performance for Q1 2023, achieving revenues of $1.02 billion, a 22% increase from Q1 2022. Notably, organic growth contributed 17% to this increase. The company recorded an Adjusted EBITDA of $82.1 million, up 32%, and an Adjusted EPS of $0.85, reflecting a 16% growth year-over-year. GAAP Operating Earnings also rose to $41.0 million from $29.0 million. FirstService Residential reported revenues of $445.6 million, a 13% increase, while FirstService Brands saw a significant 30% rise in revenues to $572.9 million, driven largely by organic growth and tuck-under acquisitions. The company maintained a positive outlook for 2023, with CEO Scott Patterson highlighting strong early momentum across their brands.
On April 6, 2023, FirstService Corporation (FSV) held its annual shareholder meeting, where all eight director nominees from the management information circular dated February 27 were successfully elected. Voting Results:
- Yousry Bissada: 90.31% votes for
- Elizabeth Carducci: 99.90% votes for
- Steve H. Grimshaw: 90.21% votes for
- Jay S. Hennick: 89.89% votes for
- D. Scott Patterson: 99.84% votes for
- Frederick F. Reichheld: 90.95% votes for
- Joan Eloise Sproul: 99.03% votes for
- Erin J. Wallace: 75.38% votes for
Shareholders also approved PricewaterhouseCoopers LLP as the auditor, amendments to the stock option plan, and an advisory resolution on executive compensation. FirstService generates over $3.7 billion in annual revenue and employs approximately 27,000 people.
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FirstService Corporation (FSV) has announced its Annual and Special Meeting of Shareholders scheduled for April 6, 2023, at 11:00 a.m. ET, which will be webcast live. Additionally, the company will release its Q1 2023 financial results on April 26, 2023, at 7:30 a.m. ET, followed by a conference call at 11:00 a.m. ET, featuring insights from CEO D. Scott Patterson and CFO Jeremy Rakusin. FirstService is a leader in property services in North America, generating over $3.7 billion in annual revenues and employing approximately 27,000 individuals. The company's shares are traded on NASDAQ and the Toronto Stock Exchange under the symbol FSV.
FirstService Corporation (FSV) has announced the acquisition of a franchised operation of Paul Davis Restoration in Houston, Raleigh, and Nashville. This strategic move expands FirstService's company-owned operations to 15 across North America, enhancing service capabilities in these populous regions. The acquired franchises represent a significant player in the restoration services sector, backed by a management team that retains equity interest. The transaction supports FirstService's growth strategy, aimed at strengthening ties with insurance carriers. As part of a larger network of 330 locations, it positions the company for increased market penetration.
FirstService Corporation (FSV) reported strong financial results for Q4 and the full year ended December 31, 2022. Revenues reached $1.02 billion in Q4, a 19% year-over-year increase, driven by 15% organic growth. Adjusted EBITDA for Q4 rose to $102.5 million, up 23%, while GAAP diluted EPS was $0.86, compared to $0.70 in the same quarter last year. For the full year, revenues totaled $3.75 billion, a 15% increase, despite a slight decline in Adjusted EPS to $4.24. The company's CEO expressed confidence in maintaining healthy growth moving forward.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced an 11% increase in its quarterly cash dividend, raising it from US$0.2025 to US$0.225 per share. This dividend, payable on April 11, 2023, reflects the company's strong financial performance and commitment to returning value to shareholders, marking the eighth consecutive year of at least 10% annual dividend growth, doubling the dividend over this period. The annualized dividend now stands at US$0.90 compared to US$0.81 previously. FirstService operates in the property services sector with revenues exceeding $3.5 billion and approximately 25,000 employees.
FirstService Corporation (FSV) will release its fourth-quarter financial results for 2022 on February 7, 2023, at 7:30 am ET. Following the release, a conference call will be held at 11:00 am ET, led by CEO D. Scott Patterson and CFO Jeremy Rakusin. The call will be available via webcast on the company’s website, and participants can register in advance for dial-in details. FirstService is a leading North American property services provider, generating over US$3.5 billion in annual revenues and employing approximately 25,000 individuals across the region.
FirstService Corporation announced the acquisition of Charles H. Greenthal and Tudor Realty Services as part of its expansion strategy in the North American property management sector. Greenthal, established in 1958, manages over 250 residential properties in the New York metropolitan area. Tudor, founded in 1990, specializes in managing nearly 100 cooperative and condominium properties. With these acquisitions, FirstService aims to strengthen its market position in New York, which is a key growth area for the company.