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.
Floor Coverings International (FCI), North America's leading flooring franchise, announces significant leadership team changes to support its expansion goals. The company aims to reach 340 operating franchisees by year-end, having already secured 14 new agreements.
Key appointments include Hayden Shaw as Director of Franchise Development and internal promotions of Albert Hermans to Chief Development Officer, Grant Carter to Divisional Vice President – Startup, Katie Pynnonen to Senior Director of Brand Marketing, and Joe Benincasa to Divisional Senior Director of Operations.
The company's business model features Mobile Flooring Showrooms with investment costs ranging from $183,000 to $247,000. Performance metrics show the top 50% of operators generated $1.6 million in average revenue in 2024, while the top 10% achieved $3.1 million in average unit volume.
FirstService (TSX: FSV) (NASDAQ: FSV) held its annual shareholder meeting virtually on April 02, 2025, where eight director nominees were successfully elected to serve until the next annual meeting. The election results showed strong shareholder support, with most directors receiving over 90% approval.
Notable voting results include Jay S. Hennick receiving 89.26% approval with the highest withhold votes at 10.74%, while Yousry Bissada and Elizabeth Carducci received the highest approval rates at 98.81%. Shareholders also approved PricewaterhouseCoopers LLP as the auditor and passed a non-binding advisory resolution on executive compensation.
FirstService, a North American property services leader, operates through FirstService Residential and FirstService Brands, generating over US$5.2 billion in annual revenues with approximately 30,000 employees across North America.
FirstService (FSV) has announced key upcoming dates for shareholders and investors. The company will hold its Annual Meeting of Shareholders on April 2, 2025, at 11:00 a.m. ET via webcast, accessible through FirstService's website or the LUMI AGM platform.
Additionally, FirstService will release its first quarter 2025 financial results on April 24, 2025, at 7:30 am ET, followed by a conference call at 11:00 a.m. ET hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin.
FirstService is a North American leader in property services operating through two platforms: FirstService Residential, North America's largest residential community manager, and FirstService Brands, a major provider of essential property services. The company generates over $5.2 billion in annual revenues and employs approximately 30,000 people across North America.
FirstService (FSV) has announced the expansion and extension of its unsecured revolving credit facility to US$1.75 billion, up from US$1.25 billion, with a new five-year term maturing in February 2030. The facility includes an option to increase by an additional US$250 million under the same terms.
The credit facility, which was substantially oversubscribed by a syndicate of 11 banks led by The Toronto-Dominion Bank, will be used for working capital, general corporate purposes, and funding future tuck-under acquisitions. Combined with US$185 million in outstanding private long-term senior notes, this financing maintains FirstService's strong, investment-grade balance sheet.
FirstService generates over US$5.2 billion in annual revenues and employs approximately 30,000 people across North America through its two main platforms: FirstService Residential and FirstService Brands.
Floor Coverings International (FCI) announces that Toby and Amy Tabor, owners of FCI Vancouver-Portland, have been named 2024 Franchisees of the Year by the International Franchise Association (IFA). The couple, who have owned their franchise for 20 years, were recognized at the 65th IFA Annual Convention in Las Vegas for their outstanding performance and contributions to the franchise business model.
The Tabors were among the first FCI franchisees to hire external sales teams and explore new technologies. Their franchise has demonstrated significant success, contributing to FCI's impressive performance metrics. The company reports that its top 50% of operators generated $1.6 million in average revenue in 2023, while the top 10% achieved $3.3 million in average unit volume.
FCI operates through a unique business model featuring mobile flooring showrooms, with total investment costs ranging from $154,400 to $341,000. The company is currently offering franchise opportunities across hundreds of prime territories.
FirstService (FSV) reported strong financial results for Q4 and full year 2024. Q4 revenues increased 27% to $1.37 billion, including 10% organic growth. Q4 Adjusted EBITDA rose 33% to $137.9 million, while Adjusted EPS grew 21% to $1.34.
For full year 2024, consolidated revenues reached $5.22 billion, up 20% from 2023. Adjusted EBITDA increased 24% to $513.7 million, and Adjusted EPS grew 7% to $5.00. The FirstService Residential segment generated revenues of $521.3 million in Q4, up 5%, while FirstService Brands recorded revenues of $844.1 million, up 45%.
The company's performance was driven by contract wins in high-rise markets, increased weather events and large-loss claims activity in restoration operations, and contribution from the Roofing Corp of America acquisition.
FirstService (FSV) has announced a 10% increase in its quarterly cash dividend, raising it from US$0.25 to US$0.275 per Common Share. The dividend will be payable on April 7, 2025, to shareholders of record as of March 31, 2025. This increase brings the annualized dividend to US$1.10, up from US$1.00 in the previous year.
This marks FirstService's tenth consecutive year of achieving at least 10% annual dividend growth, reflecting the company's strong earnings and free cash flow performance. The company, which generates over US$4.9 billion in annual revenues and employs approximately 30,000 people across North America, operates through two main platforms: FirstService Residential and FirstService Brands.
FirstService (TSX and NASDAQ: FSV) has scheduled the release of its fourth quarter and annual financial results for the fiscal year 2024 on February 5, 2025, at approximately 7:30 am ET. The company will host a conference call at 11:00 am ET on the same day to review the results, led by CEO D. Scott Patterson and CFO Jeremy Rakusin.
The call will be webcast live on FirstService's website, with participants able to register for dial-in access or join in listen-only mode. A replay of the webcast will be available in the 'Investors' section under 'Newsroom' following the call.
The Amenity Collective has acquired Advantage Sport & Fitness, positioning itself as North America's largest fitness equipment distributor and servicer. The strategic acquisition partners Advantage Sport & Fitness with LIVunLtd, expanding their market reach and distribution capabilities.
Advantage Sport & Fitness, established in 1987 in Ithaca, NY, is known for exclusive distribution of Precor Fitness Equipment on the U.S. East Coast and partnerships with brands like Peloton, Escape Fitness, and Power Lift. The company recently expanded into Mid-Atlantic and New England regions and opened a new 51,000-square-foot warehouse in Greenville, South Carolina.
FirstService (TSX: FSV; NASDAQ: FSV) has announced a quarterly cash dividend of US$0.25 per Common Share, payable on January 7, 2025, to shareholders of record as of December 31, 2024. The dividend qualifies as an 'eligible dividend' for Canadian tax purposes.
FirstService is a North American leader in property services operating through two main platforms: FirstService Residential, North America's largest residential community manager, and FirstService Brands, a major provider of essential property services. The company generates over $4.9 billion in annual revenues and employs approximately 30,000 people across North America.