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.
FirstService Corporation (FSV) has expanded its operations through three key acquisitions. First Onsite Restoration acquired Emergency Restoration in New Orleans, enhancing its emergency water mitigation services in a weather-prone region. Paul Davis Restoration has integrated a significant franchise operation in Salt Lake City and Las Vegas, promoting its growth strategy. Additionally, California Closets has gained a franchised territory in Portland, Oregon, indicating potential for market growth. These moves align with FirstService's objective of augmenting capabilities and geographic reach.
FirstService Corporation (FSV) announced a quarterly cash dividend of US$0.2025 per Common Share, payable on January 6, 2023. Shareholders on record by December 30, 2022 will receive this eligible dividend, which is beneficial for Canadian tax purposes. FirstService is a leader in property services, generating over $3.5 billion in annual revenues and employing around 25,000 people across North America. The company focuses on creating value for shareholders and is included in the S&P/TSX 60 index.
FirstService Corporation (FSV) reported strong Q3 2022 results, with revenues of $960.5 million, up 13% year-over-year, marking 8% organic growth. Adjusted EBITDA rose 1% to $95.5 million, while adjusted EPS decreased to $1.17 from $1.50. For the nine months ending September 30, revenues reached $2.73 billion, a 14% increase. Despite growth, GAAP EPS fell to $0.77 from $1.03 year-over-year. CEO Scott Patterson noted consistent top-line strength across divisions.
FirstService Corporation (FSV) has completed three tuck-under acquisitions in its property restoration sector, enhancing its geographic reach and service capabilities. The acquisitions include two commercial restoration firms for the First Onsite Restoration platform and a franchise of Paul Davis Restoration. These moves strengthen FirstService's presence in key markets across North America, particularly in the Southeast U.S. and Southern Ontario. CEO Scott Patterson highlighted the strategic importance of these additions for future growth.
FirstService Corporation (FSV) announced the release of its third-quarter financial results for the period ending September 30, 2022. The results will be disclosed via press release on October 26, 2022, at approximately 7:30 am ET. A conference call to discuss these results will follow at 11:00 am ET, hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin, and will be available through a live webcast. With over US$3.4 billion in annual revenues and around 25,000 employees, FirstService is a leading North American property services provider.
FirstService Corporation announced the initiation of two new revolving, uncommitted financing facilities totaling US$450 million for future private placement issuances of senior unsecured notes.
The Facilities have a term of three years ending on September 29, 2025, allowing FirstService to issue incremental Note tranches. Initially, US$60 million of 4.53% Notes were issued to New York Life. The proceeds will primarily support working capital, corporate purposes, and future acquisitions while maintaining robust liquidity.
On September 13, 2022, FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced a quarterly cash dividend of US$0.2025 per common share, payable on October 7, 2022, to shareholders of record as of September 30, 2022. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes. FirstService generates over $3.4 billion in annual revenue and employs around 25,000 people across North America, focusing on property services through its leading platforms, FirstService Residential and FirstService Brands.
FirstService Corporation (TSX/NASDAQ: FSV) announced its intention to commence a normal course issuer bid (NCIB) for up to 1,600,000 common shares, representing 4.2% of the public float, starting August 26, 2022, lasting until August 25, 2023. Purchases will be made at market price, subject to a daily limit of 23,559 shares. The NCIB aims to enhance shareholder value and mitigate dilution from stock options. Previously, FirstService did not execute any share repurchases under its prior NCIB that ended August 25, 2022.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) reported strong second-quarter results for the period ending June 30, 2022, with revenues of $930.7 million, a 12% increase year-over-year. Adjusted EBITDA rose 2% to $91.3 million, while Adjusted EPS fell to $1.12 from $1.21. For the six months, revenues reached $1.77 billion, up 14%, but GAAP EPS declined to $1.09 from $1.32. The company highlighted robust demand across both divisions, despite challenges like wage inflation impacting margins. A conference call will occur on July 27, 2022, to discuss these results further.
FirstService Corporation (FSV) will announce its second-quarter financial results for the period ended June 30, 2022, on July 27, 2022, at 7:30 am ET. A conference call hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin will follow at 11:00 am ET. The call will be accessible via webcast on the company's website. FirstService, a leader in property services, generates over US$3.3 billion in annual revenue and employs about 25,000 people across North America.