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 (NASDAQ: FSV) declared a quarterly cash dividend of US$0.165 per common share, payable on October 7, 2020, to shareholders of record as of September 30, 2020. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. FirstService, a leader in North America’s outsourced property services sector with annual revenues of US$2.4 billion and about 24,000 employees, continues to demonstrate value creation for shareholders.
FirstService Corporation (FSV) announced a normal course issuer bid (NCIB) allowing the purchase of up to 3,100,000 common shares, representing 9.7% of its public float. The bid will run from August 26, 2020, to August 25, 2021. Shares will be bought at market prices, with daily limits of 16,651 shares except for block purchases. FirstService aims to use this opportunity to manage share dilution and believes the current market prices are attractive. This follows a previous NCIB that expired on August 25, 2020, with no shares purchased under that program.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) reported Q2 2020 results with revenues of $621.6 million, marking an 8% increase year-over-year. Adjusted EBITDA rose 10% to $71.2 million, while Adjusted EPS fell to $0.86 from $1.12 in Q2 2019. GAAP Operating Earnings recorded $44.9 million, a significant recovery from a loss of $268.5 million last year due to a prior settlement. For the first half of 2020, revenues reached $1.26 billion, up 18%. CEO Scott Patterson emphasized resilience amid COVID-19 challenges, expressing a cautious outlook for the remainder of the year.
FirstService Corporation (FSV) has announced it will publish its financial results for the second quarter ended June 30, 2020, on July 23, 2020, at approximately 7:30 am ET. A conference call to discuss these results will occur on the same day at 11:00 am ET, hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin. FirstService, a leader in property services, boasts US$2.4 billion in annual revenues and approximately 24,000 employees. The event can be accessed via a toll-free number or through their website's Investors section.
On July 2, 2020, Interstate Restoration announced the acquisition of Rolyn, enhancing its position as a leading independent emergency response and restoration service provider in North America. This acquisition adds Rolyn's nine operations centers and over 150 skilled employees to Interstate's network, significantly expanding its geographic reach and service capabilities, particularly in the healthcare sector. The financial terms of the acquisition remain undisclosed. Interstate, along with FirstOnSite, is now the second-largest independent restoration provider in the region.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced a quarterly cash dividend of US$0.165 per Common Share, payable on July 7, 2020, to shareholders on record as of June 30, 2020. This dividend is classified as an "eligible dividend" for Canadian income tax purposes. FirstService operates in the outsourced property services sector, generating annual revenues of US$2.4 billion and employing around 24,000 people across North America. With a strong management team and significant insider ownership, the company is committed to delivering superior returns for shareholders.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced the completion of a private placement, selling 1,797,359 common shares to Durable Capital Partners at US$83.46 each. This transaction raised approximately US$150 million. The proceeds will be used to reduce existing debt, support potential acquisitions, and fund working capital. CEO Scott Patterson expressed optimism about the financing enhancing financial flexibility for growth opportunities. The shares sold have not been registered under U.S. Securities laws, and the company operates in the essential outsourced property services sector, generating US$2.4 billion in revenue.