Firstservice Corp Stock Price, News & Analysis

FirstService Corporation announced the acquisition of Insurance Restoration Specialists (IRS), enhancing its restoration services in the New York City metropolitan area. Founded in 1985, IRS is a leading commercial restoration provider in New Jersey and surrounding regions, specializing in environmental remediation and facility infection control. This acquisition follows FirstService's purchase of Maxons Restorations and aims to strengthen its operational capabilities and customer base in the Tri-State region. FirstService generates over $3.0 billion in annual revenues.

FirstService Corporation (TSX and NASDAQ: FSV) has announced the acquisition of Complete DKI and Moore Restoration, enhancing its subsidiary First Onsite Property Restoration. Complete, based in Florida, specializes in disaster restoration, while Moore is recognized for its commercial restoration services in Indiana. These acquisitions aim to improve operational excellence and geographic coverage, allowing for a quicker response to client needs. The financial details of these transactions remain undisclosed, but the move reinforces First Onsite’s strategic growth in key regions.

FirstService Corporation (FSV) announced on August 17, 2021, that the Toronto Stock Exchange accepted its notice for a normal course issuer bid (NCIB). This allows FirstService to repurchase up to 1,600,000 shares, representing 5% of its public float, within a 12-month period starting August 26, 2021. The NCIB aims to manage share dilution and utilize corporate funds efficiently. During the previous NCIB, no shares were repurchased. FirstService, a leading property services provider, generates over $3 billion in annual revenues and has approximately 24,000 employees.

FirstService Corporation (TSX: FSV; NASDAQ: FSV) reported strong financial results for Q2 2021, with revenues of $831.6 million, reflecting a 34% increase year-over-year. Adjusted EBITDA increased by 26% to $89.9 million, and Adjusted EPS rose 41% to $1.21. For H1 2021, revenues reached $1.54 billion, a 23% increase compared to H1 2020. The growth was driven by robust organic growth across all operations, particularly in the property management sector. CEO Scott Patterson highlighted the company's resilience in a challenging labor market and an emphasis on recruitment to meet demand.

FirstService Corporation (FSV) will release its second-quarter financial results for the period ending June 30, 2021, on July 27, 2021, at 7:30 am ET. A conference call to review these results will occur at 11:00 am ET on the same day, hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin. The call can be accessed at 1-888-241-0551 for toll-free callers and 647-427-3415 for international callers. FirstService operates in the property services sector, generating over US$2.8 billion annually and employing around 24,000 people across North America.

FirstService Corporation has announced the acquisition of Maxons Restorations, a leading provider of emergency response and restoration services in New York City. This strategic move aims to expand First Onsite Property Restoration's presence in the Tri-State area, enhancing service offerings for commercial accounts. Maxons' CEO and executives retain a minority interest and will manage daily operations. FirstService generates over $2.8 billion in annual revenue and employs about 24,000 staff across North America, trading under the symbol FSV.

FirstService Corporation (TSX: FSV; NASDAQ: FSV) appointed Steve H. Grimshaw to its Board of Directors, expanding the board to nine members, with seven being independent. Grimshaw, the Executive Chairman of Caliber, Inc., has a proven track record of growth in service-based businesses, significantly increasing Caliber's revenue from $280 million to over $4 billion. His experience is expected to enhance FirstService's commitment to service excellence and customer experience, critical for the company's ongoing success in the property services sector.

FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced a quarterly cash dividend of US$0.1825 per Common Share, payable on July 7, 2021, to shareholders on record by June 30, 2021. This dividend is categorized as an 'eligible dividend' for Canadian tax purposes. FirstService is a leader in property services in North America, generating over $2.8 billion in annual revenue and employing approximately 24,000 people. The company's major service platforms include FirstService Residential and FirstService Brands.

FirstService Corporation (FSV) reported a strong first quarter for 2021, achieving revenues of $711.1 million, a 12% increase year-over-year. Organic growth contributed to half of this increase. The company saw a 36% rise in Adjusted EBITDA to $59.8 million, while Adjusted EPS surged by 78% to $0.66. GAAP Operating Earnings were $33.9 million, up from $16.0 million in Q1 2020. FirstService Residential and FirstService Brands showed solid performances, with revenues of $350.5 million and $360.6 million, respectively, driven by home improvement and restoration activities.