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 (TSX: FSV; NASDAQ: FSV) declared a quarterly cash dividend of US$0.2025 per common share, payable on July 7, 2022, for shareholders on record by the close of business on June 30, 2022. This dividend qualifies as an eligible dividend for Canadian income tax. FirstService is a leading property services provider in North America, generating over $3.3 billion in annual revenue and employing approximately 25,000 people. The company has a strong track record of delivering value and returns for shareholders.
FirstService Corporation (FSV) reported strong financial results for Q1 2022, with revenues of $834.6 million, a 17% increase from $711.1 million in Q1 2021, primarily driven by organic growth. Adjusted EBITDA rose to $62.3 million, while adjusted EPS increased to $0.73, up 11% year-over-year. However, GAAP operating earnings declined to $29 million from $33.9 million. Both segments showed growth, with FirstService Residential rising by 12% and FirstService Brands by 22%. The company is experiencing wage inflation and rising corporate costs, impacting margins.
FirstService Corporation (TSX: FSV) announced the election of its eight director nominees during the annual shareholders' meeting held on April 6, 2022. The election results indicated high approval rates, with most directors receiving over 85% support. Shareholders also confirmed PricewaterhouseCoopers LLP as the auditor for the upcoming year and approved a non-binding advisory resolution on executive compensation. FirstService continues to lead in the property services sector, generating over $3.2 billion in annual revenues and employing approximately 25,000 individuals in North America.
FirstService Corporation (TSX and NASDAQ: FSV) has announced its Annual Meeting of Shareholders scheduled for April 6, 2022, at 11:00 a.m. ET, accessible via their website and conference call. Additionally, the company will release its financial results for Q1 2022 on April 27, 2022, at 7:30 a.m. ET, followed by a conference call at 11:00 a.m. ET. FirstService generates over $3.2 billion in annual revenues and employs approximately 25,000 across North America, positioning itself as a leader in the property services sector.
FirstService Corporation (FSV) announced the expansion and extension of its revolving credit facility on an unsecured basis, establishing a new five-year term maturing in February 2027. The borrowing capacity has increased to US$1.0 billion, with an option to add up to US$250 million. The funds will be used to repay a US$407 million term loan, along with working capital and future acquisitions. The facility was oversubscribed by ten banks, enhancing financial flexibility and supporting growth initiatives, according to executives.
FirstService Corporation (FSV) reported robust financial results for Q4 and the full year 2021, with revenues of $856.9 million for Q4, a rise of 11% year-over-year, and $3.25 billion for the year, up 17%. Adjusted EBITDA reached $83.5 million in Q4 (up 5%) and $327.4 million for the year (up 15%). Adjusted EPS grew by 19% to $1.21 in Q4 and 32% to $4.57 for the year. Despite a decline in GAAP Operating Earnings in Q4 to $44.9 million, the company expressed confidence in sustaining growth, driven by a strong market and strategic acquisitions.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) has announced an 11% increase in its quarterly cash dividend, raising it from US$0.1825 to US$0.2025 per Common Share. The dividend is payable on April 7, 2022, to shareholders on record as of March 31, 2022. This boost leads to an annualized dividend of US$0.81, up from US$0.73. This marks the seventh consecutive year of at least 10% dividend growth since the company went public in 2015, reflecting a strong track record of free cash flow growth.
FirstService Corporation (FSV) will release its Q4 financial results for the year ended December 31, 2021, via press release on February 15, 2022, at approximately 7:30 am ET. The conference call to discuss these results will be held at 11:00 am ET on the same day, hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin. Interested parties can join the call using specific dial-in numbers provided. The results will also be accessible on their website in the Investors section for 90 days post-call.
FirstService Corporation has announced the acquisition of Chesapeake Sprinkler Company by its subsidiary, Century Fire Protection, enhancing its presence in the Mid-Atlantic U.S. region. Chesapeake, founded in 1978, is a leading fire protection service provider in Baltimore and Washington, D.C., known for its installation, inspection, and maintenance services. CEO Scott Tutterow emphasized the strategic importance of this acquisition for growth and expanding their geographic footprint. The transaction terms remain undisclosed, but it reflects FirstService's commitment to value creation and market expansion.
FirstService Corporation announced five acquisitions to enhance its property restoration operations. This includes four commercial firms under First Onsite Restoration and one residential provider under Paul Davis Restoration. The acquisitions strengthen FirstService's geographic coverage in North America, notably in markets like the Washington D.C. area, Seattle, Kauai, and southern Wisconsin. These strategic moves aim to boost operational excellence and expand service capabilities, ultimately benefiting national and regional commercial clients.