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 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.
FirstService Corporation announced the initiation of two new revolving, uncommitted financing facilities totaling US$450 million for future private placement issuances of senior unsecured notes.
The Facilities have a term of three years ending on September 29, 2025, allowing FirstService to issue incremental Note tranches. Initially, US$60 million of 4.53% Notes were issued to New York Life. The proceeds will primarily support working capital, corporate purposes, and future acquisitions while maintaining robust liquidity.
On September 13, 2022, FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced a quarterly cash dividend of US$0.2025 per common share, payable on October 7, 2022, to shareholders of record as of September 30, 2022. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes. FirstService generates over $3.4 billion in annual revenue and employs around 25,000 people across North America, focusing on property services through its leading platforms, FirstService Residential and FirstService Brands.
FirstService Corporation (TSX/NASDAQ: FSV) announced its intention to commence a normal course issuer bid (NCIB) for up to 1,600,000 common shares, representing 4.2% of the public float, starting August 26, 2022, lasting until August 25, 2023. Purchases will be made at market price, subject to a daily limit of 23,559 shares. The NCIB aims to enhance shareholder value and mitigate dilution from stock options. Previously, FirstService did not execute any share repurchases under its prior NCIB that ended August 25, 2022.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) reported strong second-quarter results for the period ending June 30, 2022, with revenues of $930.7 million, a 12% increase year-over-year. Adjusted EBITDA rose 2% to $91.3 million, while Adjusted EPS fell to $1.12 from $1.21. For the six months, revenues reached $1.77 billion, up 14%, but GAAP EPS declined to $1.09 from $1.32. The company highlighted robust demand across both divisions, despite challenges like wage inflation impacting margins. A conference call will occur on July 27, 2022, to discuss these results further.