Firstservice Corp

TSX:FSVCanadaView on NASDAQ

Apr 24, 2024

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• FirstService Q1 Adjusted Earnings Fall, Revenue Rises, from 8:57AM ET on Wednesday Apr 24, 2024 by MT Newswires

  8:57AM ET on Wednesday Apr 24, 2024 by MT Newswires
  Companies Mentioned: FSV
  08:57 AM EDT, 04/24/2024 (MT Newswires) -- FirstService (FSV) reported Q1 adjusted earnings Wednesday of $0.67 per share, down from $0.85 a year earlier. Analysts polled by Capital IQ expected $0.74. Revenue for the quarter ended March 31 was $1.16...

• FirstService Falls 5% in Premarket Trade as First-Quarter Profit Misses Estimates Despite Revenue Gain, from 8:37AM ET on Wednesday Apr 24, 2024 by MT Newswires

  8:37AM ET on Wednesday Apr 24, 2024 by MT Newswires
  Companies Mentioned: FSV
  08:37 AM EDT, 04/24/2024 (MT Newswires) -- FirstService (FSV.TO, FSV) fell 5% in premarket Nasdaq trading after the company on Wednesday said its first-quarter profit fell 34%, missing estimates, even as sales rose. The property-services and home-g...

• DJ FirstService 1Q Profit Falls, Revenue Growth Tops Views, from 7:55AM ET on Wednesday Apr 24, 2024 by Dow Jones

  7:55AM ET on Wednesday Apr 24, 2024 by Dow Jones
  Companies Mentioned: FSV, FSV
  
  By Adriano Marchese
  
  FirstService on Wednesday reported a decline in profit but better-than-expected revenue growth in its first quarter.
  
  The Canadian real estate services company posted a lower net income of $14.9 million, or 14 cents a share, down from $22.7 million, or 36 cents a share, in the comparable quarter a year ago.
  

• -- FirstService Brief: Q1 Adjusted EPS US$0.67, from 7:31AM ET on Wednesday Apr 24, 2024 by MT Newswires

  7:31AM ET on Wednesday Apr 24, 2024 by MT Newswires
  Companies Mentioned: FSV
  07:31 AM EDT, 04/24/2024 (MT Newswires) -- ...

• FirstService Reports First Quarter Results, from 7:30AM ET on Wednesday Apr 24, 2024 by Dow Jones

  7:30AM ET on Wednesday Apr 24, 2024 by Dow Jones
  Companies Mentioned: FSV, FSV
  in) Operating activities Net earnings $ 14,897 $ 22,667 Items not affecting cash: Depreciation and amortization 36,807 31,882 Deferred income tax (2,274) (272) Other 6,332 9,003 ------- -------- 55,762 63,280 Changes in non cash working capital Accounts receivable 19,997 (48,588) Payables and accruals (56,284) (30,406) Other (8,920) 15,411 Contingent acquisition consideration (19,355) - ------- -------- Net cash used in operating activities (8,800) (303) ------- -------- Investing activities Acquisition of businesses, net of cash acquired (31,618) (82,351) Purchases of fixed assets (25,021) (21,481) Other investing activities (701) (5,304) Net cash used in investing activities (57,340) (109,136) ------- -------- Financing activities Increase in long-term debt, net 46,255 103,900 Purchases of non-controlling interests, net (11,221) (2,719) Dividends paid to common shareholders (10,054) (8,956) Other financing activities 18,150 15,122 ------- -------- Net cash provided by financing activities 43,130 107,347 ------- -------- Effect of exchange rate changes on cash 228 (13) ------- -------- Decrease in cash, cash equivalents and restricted cash (22,782) (2,105) Cash, cash equivalents and restricted cash, beginning of period 206,877 159,348 ------- -------- Cash, cash equivalents and restricted cash, end of period $184,095 $ 157,243 ------- -------- Segmented Results ----------------------------------------------------------------------------------- (in thousands of US dollars) FirstService FirstService (unaudited) Residential Brands Corporate Consolidated -------------- --------------- ----------------- -------------- Three months ended March 31 2024 Revenues $ 496,124 $ 661,921 $ - $ 1,158,045 Adjusted EBITDA 35,599 55,462 (7,688) 83,373 Operating earnings 26,658 26,799 (15,399) 38,058 2023 Revenues $ 445,580 $ 572,865 $ - $ 1,018,445 Adjusted EBITDA 31,968 54,793 (4,665) 82,096 Operating earnings 22,712 30,160 (11,922) 40,950