FirstService Corp (FSV) SEC Filings

FirstService Corp's Schedule 13G reports that 1832 Asset Management L.P., MD Financial Management Inc., and Scotia McLeod, a division of Scotia Capital Inc., beneficially owned 2,188,987 common shares, or 5.013% of the class. The disclosure reports sole voting and dispositive power over the same 2,188,987 shares, with no shared voting or dispositive power.

FirstService Corp (FSV) announced a quarterly cash dividend of US$0.305 per common share. The dividend will be paid on October 7, 2026 to shareholders of record as of September 30, 2026, and is designated as an “eligible dividend” for Canadian income tax purposes.

FirstService describes itself as a North American property services leader, generating more than $5.5 billion in annual revenues with approximately 30,000 employees across its FirstService Residential and FirstService Brands platforms.

FirstService Corp (FSV) announced that the Toronto Stock Exchange accepted its notice to commence a normal course issuer bid for its common shares. From August 26, 2026 to August 25, 2027, FirstService may repurchase up to 3,930,112 shares, equal to 10% of its public float as of August 12, 2026, through the TSX, alternative Canadian trading systems and NASDAQ, at prevailing market prices.

As of August 12, 2026, FirstService had 43,669,770 shares outstanding and a public float of 39,301,122 shares. All repurchased shares will be cancelled. Daily repurchases on the TSX are limited to 32,962 shares, aside from block purchases, with NASDAQ purchases generally capped at 25% of recent average daily volume.

FirstService states it may buy back shares when it views the share price as attractive, as an appropriate use of funds and to help offset stock option dilution. The company has also put in place an automatic share purchase plan so a broker can continue repurchases during blackout periods, within preset parameters. Under its current NCIB, expiring August 25, 2026, FirstService has repurchased 2,311,991 shares at a weighted average price of US$136.87.

FirstService Corp received an updated ownership report indicating that investment firms Orbis Investment Management Ltd and Orbis Investment Management (U.S.), L.P. collectively report beneficial ownership of 4,044,289 shares of FirstService common stock, representing 8.8% of the class.

Orbis Investment Management Ltd reports 3,351,419 shares, or 7.3% of the class, with sole voting and dispositive power. Orbis Investment Management (U.S.), L.P. reports 692,870 shares, or 1.5%, also with sole voting and dispositive power. The firms state that other persons have rights to receive dividends or sale proceeds on these shares and that each Orbis entity disclaims beneficial ownership of shares reported by the other.

FirstService Corporation reported solid mid‑year results, with Q2 2026 revenue of $1.45 billion, up 2% from a year earlier. Operating earnings were $99.7 million with a 6.9% margin, while net earnings were $60.9 million. Adjusted EBITDA reached $161.7 million, an 11.2% margin. For the first six months, revenue was $2.77 billion and net earnings $84.6 million, with diluted EPS of $1.43 compared with $1.07 in the prior‑year period; year‑to‑date Adjusted EBITDA was $267.4 million.

FirstService Residential delivered 4% revenue growth in both Q2 and year‑to‑date, driven entirely by organic expansion from new property management contracts and higher labor‑related services, with modest margin improvement. FirstService Brands grew revenue 1% in Q2 and 4% year‑to‑date, though organic revenue declined as weaker Roofing Corp. of America activity offset strength at Century Fire Protection, resulting in slightly lower Adjusted EBITDA margins.

Liquidity remains sound. Net cash from operating activities was $218.0 million year‑to‑date, funding $59.6 million of capital expenditures and part of the repurchase of 1,827,750 common shares for $248.4 million under the normal course issuer bid. Net indebtedness increased to $1.08 billion from $928.3 million at year‑end, while available undrawn credit totalled $646.1 million. A new accounts receivable sale facility of up to $300 million was established, under which $35.3 million of receivables were sold in Q2. Contracted backlog was $1.12 billion, with most expected to convert to revenue within 12 months.

FirstService Corporation reported second-quarter 2026 revenues of $1.45 billion, up 2% year over year. Adjusted EBITDA rose 3% to $161.7 million and Adjusted EPS increased 2% to $1.75. GAAP diluted EPS was $1.00, slightly below $1.01 a year earlier.

For the first six months of 2026, revenues reached $2.77 billion, up 4%, with Adjusted EBITDA of $267.4 million, up 3%, and Adjusted EPS of $2.69, up 2%. GAAP diluted EPS was $1.43, compared with $1.07 in the prior-year period.

FirstService Residential delivered 4% revenue growth to $616.8 million on 5% organic growth, with Adjusted EBITDA up 6% to $69.4 million. FirstService Brands revenue grew 1% to $832.4 million as a 3% organic decline, driven by reduced activity at Roofing Corp. of America, was offset by growth at Century Fire Protection; Adjusted EBITDA was $95.9 million versus $95.2 million.

Net cash provided by operating activities was $217,987 thousand in the first half of 2026. Total debt was $1,250,367 thousand, or $1,077,016 thousand net of cash, at June 30, 2026. The company used $248,417 thousand of cash to repurchase common shares in the first half. Management cited macroeconomic headwinds and expects second-half top-line growth to be similar or modestly better than year-to-date.

FirstService Corporation is expanding its share repurchase program by amending its normal course issuer bid. The maximum number of common shares that may be repurchased is increasing from 1,600,000 to 4,118,199, equal to 10% of the public float as of August 12, 2025.

As of May 31, 2026, FirstService has already repurchased 931,182 common shares for cancellation at an average price of US$132.38, totaling about US$123.3 million. The amended bid runs from August 26, 2025 to no later than August 25, 2026, with daily purchase limits on the TSX and NASDAQ.

To support the program, FirstService has entered into an automatic share purchase plan with a designated broker. This plan allows purchases to continue under preset parameters even during regulatory or self-imposed blackout periods, and all shares acquired will be cancelled.

Orbis Investment Management filed a Schedule 13G reporting beneficial ownership of 3,968,227 shares of FirstService Corp common stock, representing 8.6% of the class as of 03/31/2026.

The filing breaks ownership between Orbis Investment Management Ltd (sole voting and dispositive power over 3,450,007 shares) and Orbis Investment Management (U.S.), L.P. (sole voting and dispositive power over 518,220 shares). The filing states these holdings may be on behalf of other persons and includes a power of attorney authorizing firm signatories.

FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend of US$0.305 per Common Share. The dividend will be paid on July 7, 2026 to shareholders of record at the close of business on June 30, 2026.

The dividend is designated as an “eligible dividend” for Canadian income tax purposes, which can be beneficial for certain Canadian taxpayers. FirstService describes itself as a North American property services leader, generating more than $5.5 billion in annual revenues with approximately 30,000 employees.