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 reports news about a North American property services business built around two service platforms: FirstService Residential and FirstService Brands. FirstService Residential announcements commonly cover new residential community management assignments, high-rise and homeowners association portfolios, developer and builder services, customer-care programs, and regional leadership updates.
FirstService news also includes quarterly operating results, cash dividend declarations on its common shares, and corporate updates tied to its property services model. FirstService Brands provides essential property services to residential and commercial customers through company-owned operations and franchise systems, including brands such as California Closets, Paul Davis Restoration, CertaPro Painters, Floor Coverings International, and Pillar to Post Home Inspectors.
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.
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.