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 (TSX: FSV; NASDAQ: FSV) appointed Steve H. Grimshaw to its Board of Directors, expanding the board to nine members, with seven being independent. Grimshaw, the Executive Chairman of Caliber, Inc., has a proven track record of growth in service-based businesses, significantly increasing Caliber's revenue from $280 million to over $4 billion. His experience is expected to enhance FirstService's commitment to service excellence and customer experience, critical for the company's ongoing success in the property services sector.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced a quarterly cash dividend of US$0.1825 per Common Share, payable on July 7, 2021, to shareholders on record by June 30, 2021. This dividend is categorized as an 'eligible dividend' for Canadian tax purposes. FirstService is a leader in property services in North America, generating over $2.8 billion in annual revenue and employing approximately 24,000 people. The company's major service platforms include FirstService Residential and FirstService Brands.
FirstService Corporation (FSV) reported a strong first quarter for 2021, achieving revenues of $711.1 million, a 12% increase year-over-year. Organic growth contributed to half of this increase. The company saw a 36% rise in Adjusted EBITDA to $59.8 million, while Adjusted EPS surged by 78% to $0.66. GAAP Operating Earnings were $33.9 million, up from $16.0 million in Q1 2020. FirstService Residential and FirstService Brands showed solid performances, with revenues of $350.5 million and $360.6 million, respectively, driven by home improvement and restoration activities.
FirstService Corporation (FSV) will release its financial results for Q1 2021 on April 27, 2021, at 7:30 AM ET. A conference call, led by CEO D. Scott Patterson and CFO Jeremy Rakusin, will follow at 11:00 AM ET. Interested parties can join via toll-free number 1-888-241-0551 or international number 647-427-3415. For those unable to attend, a rebroadcast will be available for 90 days. As a leader in the property services sector, FirstService generates approximately US$2.8 billion in annual revenues with around 24,000 employees across North America.
FirstService Corporation announced the election of eight directors at its recent annual shareholder meeting held in Toronto. All nominees listed in the February 19, 2021 Circular were elected to serve until the next annual meeting. The votes reflected strong support, with individual nominees receiving up to 99.872% in favor. Additionally, shareholders approved the appointment of PricewaterhouseCoopers LLP as auditors, amendments to the stock option plan, and a non-binding advisory resolution on executive compensation. FirstService generates approximately US$2.8 billion in annual revenues.
FirstService Corporation (NASDAQ: FSV) will hold its Annual and Special Meeting of Shareholders on April 6, 2021, at 4:00 p.m. Toronto time. The event will be accessible via webcast on the company's website in the Investors section and through conference call. FirstService, a leader in property services with annual revenues of approximately US$2.8 billion and around 24,000 employees, operates through two platforms: FirstService Residential and FirstService Brands. The meeting will also be available for replay on the website.
FirstService Corporation (FSV) announced the acquisition of its Minneapolis franchise, expanding the California Closets company-owned operations to 20 out of 80 total franchises. The acquisition is part of a strategy to grow in key markets, with expectations to enhance growth in the Midwest by migrating production to a centralized manufacturing center. FirstService generates approximately $2.8 billion in annual revenues and employs around 24,000 people across North America.
FirstService Corporation announced the acquisition of Spectrum Restoration Services Ltd. and Trilink Restoration Services, LLC by its subsidiary, Global Restoration Holdings. This strategic move, aimed at expanding Global's commercial restoration capabilities, aligns with FirstService's growth strategy. With these acquisitions, Global further extends its geographic footprint and enhances service offerings in Alberta and Oklahoma. The operations will be rebranded under the name FIRST ONSITE starting March 29, 2021. This marks Global's ninth acquisition since mid-2019.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) reported strong financial results for the fourth quarter and full year ended December 31, 2020. Q4 revenues reached $775.1 million, a 15% increase year-over-year. Adjusted EBITDA rose 25% to $79.9 million with adjusted EPS of $1.02, up 55%. For the full year, revenues totaled $2.77 billion, also a 15% increase. The company demonstrated resilience amid the pandemic, and CEO Scott Patterson emphasized organic growth as a key driver.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced an 11% increase in its quarterly cash dividend, raising it to US$0.1825 per share, up from US$0.165. This marks the sixth consecutive year of at least 10% annual dividend growth since becoming a public company in 2015. The annualized dividend now totals US$0.73, reflecting the company's strong cash flow performance despite challenges like the COVID-19 pandemic. The dividend is payable on April 7, 2021 to shareholders on record as of March 31, 2021.