Canada · Delayed Price · Currency is CAD FirstService Earnings Call Transcripts
Fiscal Year 2026
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Q1 delivered 5% revenue and 2% EBITDA growth, with strong residential margin expansion and solid cash flow. Outlook for Q2 is stable, though margin pressures persist in roofing and home services amid macro uncertainty.
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The meeting approved all resolutions, including director elections, auditor appointment, stock option plan amendments, and executive compensation. Despite macroeconomic headwinds, revenues grew 5% and EPS rose 15% in 2025, with continued investment in growth and a 10% dividend increase.
Fiscal Year 2025
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Fourth quarter and full-year 2025 results showed revenue and earnings growth despite macro headwinds, with margin improvements and strong cash flow. Outlook for 2026 is for mid- to high-single digit revenue growth and flat margins, with disciplined capital allocation and continued focus on tuck-under acquisitions.
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Q3 saw 4% revenue growth and 3% higher adjusted EBITDA, with strong performance in Residential and Century Fire offsetting weakness in restoration and roofing. Full-year revenue and EBITDA are expected to grow mid- to high-single digits, with a strong balance sheet and robust cash flow.
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Q2 saw 9% revenue growth and 19% higher EBITDA, driven by acquisitions and margin gains, with adjusted EPS up 26%. Outlook remains strong for 2025, though restoration faces tough comps and home services are flat amid weak consumer sentiment.
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Q1 saw 8% revenue growth and 24% higher EBITDA, driven by acquisitions and margin gains. Despite macro uncertainty and some organic softness, strong cash flow, stable leverage, and an active M&A pipeline support a positive outlook for 2025.
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The meeting confirmed strong 2024 financial results, with 20% revenue growth and key acquisitions driving expansion. All director nominees and resolutions, including auditor reappointment and executive compensation, were approved by majority vote.
Fiscal Year 2024
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Q4 and full-year results exceeded targets, with 20% revenue and 24% EBITDA growth, driven by acquisitions and strong restoration performance. 2025 guidance calls for high-single-digit revenue growth, with continued margin expansion and robust capital deployment.
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Q3 saw 25% revenue growth and 43% EBITDA growth, driven by acquisitions and strong restoration performance. Residential growth was impacted by Florida legislation, while Brands delivered significant margin expansion. Outlook for Q4 and full year remains strong, with continued M&A activity and robust liquidity.
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Q2 2024 saw 16% revenue growth, driven by acquisitions, with EBITDA up 12% and strong cash flow. Organic growth was flat, with Residential gains offset by restoration declines. 2024 guidance was raised to mid-teens growth for revenue and EBITDA.