Upcoming Dividend • Jun 25
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 30 June 2026. Payment date: 07 July 2026. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.1%). Declared Dividend • May 20
First quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 30th June 2026 Payment date: 7th July 2026 Dividend yield will be 1.0%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 52% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. Independent Director Elizabeth Carducci was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 08
FirstService Corporation Declares Quarterly Cash Dividend, Payable on July 7, 2026 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of USD 0.305 per Common Share. The dividend is payable on July 7, 2026 to holders of Common Shares of record at the close of business on June 30, 2026. The dividend on Common Shares is an "eligible dividend" for Canadian income tax purposes. Announcement • Mar 11
FirstService Corporation to Report Q1, 2026 Results on Apr 23, 2026 FirstService Corporation announced that they will report Q1, 2026 results at 7:30 AM, US Eastern Standard Time on Apr 23, 2026 Announcement • Feb 04
FirstService Corporation, Annual General Meeting, Apr 01, 2026 FirstService Corporation, Annual General Meeting, Apr 01, 2026. Announcement • Feb 03
FirstService Declares Quarterly Cash Dividend, Payable on April 7, 2026 FirstService Corporation announced that its Board of Directors has approved an 11% increase in the quarterly cash dividend on the outstanding Common Shares of the Company and declared a quarterly dividend of USD 0.305 per Common Share, up from the previous USD 0.275 per Common Share. The dividend is payable on April 7, 2026 to holders of Common Shares of record at the close of business on March 31, 2026. Announcement • Jan 14
FirstService Corporation to Report Q4, 2025 Results on Feb 04, 2026 FirstService Corporation announced that they will report Q4, 2025 results at 7:30 AM, US Eastern Standard Time on Feb 04, 2026 Announcement • Dec 04
FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on January 7, 2026 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of USD 0.275 per Common Share. The dividend is payable on January 7, 2026 to holders of Common Shares of record at the close of business on December 31, 2025. The dividend on Common Shares is an "eligible dividend" for Canadian income tax purposes. Announcement • Oct 24
Firstservice Corporation Provides Revenue Guidance for the Fourth Quarter of 2025 FirstService Corporation provided revenue guidance for the fourth quarter of 2025. The company expects a similar result in Q4, with revenues roughly matching the prior year quarter. In terms of outlook, to close out 2025, Scott has provided top line indicators by brand, which will aggregate to revenues roughly in line with prior year for upcoming fourth quarter. Announcement • Oct 09
FirstService Corporation to Report Q3, 2025 Results on Oct 23, 2025 FirstService Corporation announced that they will report Q3, 2025 results at 7:30 AM, US Eastern Standard Time on Oct 23, 2025 Announcement • Sep 10
FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on October 7, 2025 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of USD 0.275 per Common Share. The dividend is payable on October 7, 2025 to holders of Common Shares of record at the close of business on September 30, 2025. The dividend on Common Shares is an "eligible dividend" for Canadian income tax purposes. Announcement • Jul 09
FirstService Corporation to Report Q2, 2025 Results on Jul 24, 2025 FirstService Corporation announced that they will report Q2, 2025 results at 7:30 AM, US Eastern Standard Time on Jul 24, 2025 Announcement • May 07
FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on July 8, 2025 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of $0.275 per Common Share. The dividend is payable on July 8, 2025 to holders of Common Shares of record at the close of business on June 30, 2025. Announcement • Mar 12
FirstService Corporation to Report Q1, 2025 Results on Apr 24, 2025 FirstService Corporation announced that they will report Q1, 2025 results at 7:30 AM, Eastern Standard Time on Apr 24, 2025 Announcement • Feb 05
FirstService Corporation, Annual General Meeting, Apr 02, 2025 FirstService Corporation, Annual General Meeting, Apr 02, 2025. Announcement • Feb 04
FirstService Corporation Declares Quarterly Dividend, Payable on April 7, 2025 FirstService Corporation announced that its Board of Directors has approved a 10% increase in the quarterly cash dividend on the outstanding Common Shares of the Company and declared a quarterly dividend of USD 0.275 per Common Share, up from the previous USD 0.25 per Common Share. The dividend is payable on April 7, 2025 to holders of Common Shares of record at the close of business on March 31, 2025. Announcement • Jan 14
FirstService Corporation to Report Q4, 2024 Results on Feb 05, 2025 FirstService Corporation announced that they will report Q4, 2024 results at 7:30 AM, US Eastern Standard Time on Feb 05, 2025 Announcement • Dec 06
Firstservice Corporation Declares Quarterly Cash Dividend, Payable on January 7, 2025 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common shares of USD 0.25 per Common Share. The dividend is payable on January 7, 2025 to holders of Common Shares of record at the close of business on December 31, 2024. Recent Insider Transactions • Nov 16
Senior VP recently sold €3.7m worth of stock On the 13th of November, Douglas Cooke sold around 21k shares on-market at roughly €177 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €38m. Insiders have been net sellers, collectively disposing of €92m more than they bought in the last 12 months. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$1.34 (vs US$0.73 in 3Q 2023) Third quarter 2024 results: EPS: US$1.34 (up from US$0.73 in 3Q 2023). Revenue: US$1.40b (up 25% from 3Q 2023). Net income: US$60.5m (up 85% from 3Q 2023). Profit margin: 4.3% (up from 2.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Oct 03
FirstService Corporation to Report Q3, 2024 Results on Oct 24, 2024 FirstService Corporation announced that they will report Q3, 2024 results at 7:30 AM, US Eastern Standard Time on Oct 24, 2024 Recent Insider Transactions • Sep 22
Key Executive recently sold €20m worth of stock On the 17th of September, Jay Hennick sold around 122k shares on-market at roughly €162 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €38m. Jay has been a net seller over the last 12 months, reducing personal holdings by €57m. Declared Dividend • Sep 13
Second quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 30th September 2024 Payment date: 7th October 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 53%. Cash payout ratio: 21%. Announcement • Sep 11
FirstService Corporation Declares Quarterly Cash Dividend, Payable on October 7, 2024 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common shares of $0.25 per Common Share. The dividend is payable on October 7, 2024 to holders of Common Shares of record at the
close of business on September 30, 2024. Recent Insider Transactions • Aug 25
Key Executive recently sold €38m worth of stock On the 23rd of August, Jay Hennick sold around 240k shares on-market at roughly €156 per share. This transaction amounted to 7.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jay's only on-market trade for the last 12 months. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: US$0.78 (vs US$1.02 in 2Q 2023) Second quarter 2024 results: EPS: US$0.78 (down from US$1.02 in 2Q 2023). Revenue: US$1.30b (up 16% from 2Q 2023). Net income: US$35.1m (down 23% from 2Q 2023). Profit margin: 2.7% (down from 4.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jul 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 1.4% to €146. The fair value is estimated to be €120, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has declined by 3.4%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. Announcement • Jul 10
FirstService Corporation to Report Q2, 2024 Results on Jul 25, 2024 FirstService Corporation announced that they will report Q2, 2024 results at 7:30 AM, US Eastern Standard Time on Jul 25, 2024 Recent Insider Transactions • Jun 25
Independent Director recently sold €562k worth of stock On the 20th of June, Joan Sproul sold around 4k shares on-market at roughly €140 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €33m more than they bought in the last 12 months. Upcoming Dividend • Jun 21
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 28 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.1%). Announcement • Jun 13
FirstService Corporation (TSX:FSV) acquired Citiscape Property Management Group Llc. FirstService Corporation (TSX:FSV) acquired Citiscape Property Management Group Llc on June 11, 2024.FirstService Corporation (TSX:FSV) completed the acquisition of Citiscape Property Management Group Llc on June 11, 2024. Declared Dividend • May 10
First quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 28th June 2024 Payment date: 5th July 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 46%. Cash payout ratio: 26%. Announcement • May 08
FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on July 5, 2024 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of $0.25 per Common Share. The dividend is payable on July 5, 2024 to holders of Common Shares of record at the close of business on June 28, 2024. The dividend on Common Shares is an "eligible dividend" for Canadian income tax purposes. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$0.14 (vs US$0.36 in 1Q 2023) First quarter 2024 results: EPS: US$0.14 (down from US$0.36 in 1Q 2023). Revenue: US$1.16b (up 14% from 1Q 2023). Net income: US$6.31m (down 61% from 1Q 2023). Profit margin: 0.5% (down from 1.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. Recent Insider Transactions • Mar 25
CEO & Non-Independent Director recently sold €1.3m worth of stock On the 21st of March, D. Patterson sold around 8k shares on-market at roughly €157 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €7.3m. D. has been a net seller over the last 12 months, reducing personal holdings by €15m. Announcement • Mar 22
FirstService Corporation to Report Q1, 2024 Results on Apr 24, 2024 FirstService Corporation announced that they will report Q1, 2024 results at 7:30 AM, US Eastern Standard Time on Apr 24, 2024 Upcoming Dividend • Mar 20
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (3.8%). Recent Insider Transactions • Mar 18
Senior VP recently sold €824k worth of stock On the 14th of March, Douglas Cooke sold around 5k shares on-market at roughly €155 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €7.3m. Insiders have been net sellers, collectively disposing of €31m more than they bought in the last 12 months. Recent Insider Transactions • Feb 28
Insider recently bought €1.1m worth of stock On the 23rd of February, Alex Nguyen bought around 7k shares on-market at roughly €153 per share. This transaction amounted to 7.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €2.9m. Despite this recent purchase, insiders have collectively sold €19m more in shares than they bought in the last 12 months. Reported Earnings • Feb 26
Full year 2023 earnings released: EPS: US$2.25 (vs US$2.74 in FY 2022) Full year 2023 results: EPS: US$2.25 (down from US$2.74 in FY 2022). Revenue: US$4.33b (up 16% from FY 2022). Net income: US$100.4m (down 17% from FY 2022). Profit margin: 2.3% (down from 3.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Recent Insider Transactions • Feb 20
Senior VP recently sold €1.6m worth of stock On the 15th of February, Douglas Cooke sold around 10k shares on-market at roughly €154 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €2.3m. Insiders have been net sellers, collectively disposing of €12m more than they bought in the last 12 months. Recent Insider Transactions • Feb 14
Insider recently bought €2.9m worth of stock On the 8th of February, Alex Nguyen bought around 38k shares on-market at roughly €77.93 per share. This transaction amounted to 54% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €13m more in shares than they bought in the last 12 months. Declared Dividend • Feb 12
Third quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 27th March 2024 Payment date: 5th April 2024 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 29%. Cash payout ratio: 33%. Announcement • Jan 10
FirstService Corporation to Report Q4, 2023 Results on Feb 06, 2024 FirstService Corporation announced that they will report Q4, 2023 results at 7:30 AM, Eastern Standard Time on Feb 06, 2024 Recent Insider Transactions • Dec 28
Chief Financial Officer recently sold €1.4m worth of stock On the 22nd of December, Jeremy Rakusin sold around 9k shares on-market at roughly €148 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jeremy has been a net seller over the last 12 months, reducing personal holdings by €7.6m. Upcoming Dividend • Dec 21
Upcoming dividend of US$0.23 per share at 0.5% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (3.2%). Announcement • Dec 19
FirstService Corporation (TSX:FSV) acquired Roofing Corporation of America, LLC from Soundcore Capital Partners, LP for approximately $410 million. FirstService Corporation (TSX:FSV) acquired an unknown minority stake in Roofing Corporation of America, LLC from Soundcore Capital Partners, LP for approximately $410 million on December 15, 2023. The purchase price will be funded through a combination of cash on hand and funds drawn under FirstService’s existing revolving bank credit facility which now has total borrowing capacity of $1.25 billion after the recent exercise and bank syndicate approval of the $250 million accordion feature. As on December 18, 2023, Roofing Corporation of America, Inc. reported a revenue of approximately $400 million for the year ended December 31, 2022. Piper Sandler & Co. acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Soundcore Capital Partners, LP and Roofing Corporation of America, LLC.
FirstService Corporation (TSX:FSV) completed the acquisition of an unknown minority stake in Roofing Corporation of America, LLC from Soundcore Capital Partners, LP on December 15, 2023. Announcement • Nov 29
FirstService Corporation Declares Quarterly Cash Dividend, Payable on January 5, 2024 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of $0.225 per Common Share. The dividend is payable on January 5, 2024 to holders of Common Shares of record at the close of business on December 29, 2023. The dividend on Common Shares is an "eligible dividend" for Canadian income tax purposes. Recent Insider Transactions • Nov 08
Independent Director recently sold €818k worth of stock On the 3rd of November, Erin Wallace sold around 6k shares on-market at roughly €138 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €18m more than they bought in the last 12 months. Recent Insider Transactions • Nov 06
Independent Director recently sold €268k worth of stock On the 30th of October, Joan Sproul sold around 2k shares on-market at roughly €134 per share. This transaction amounted to 67% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €563k. Insiders have been net sellers, collectively disposing of €18m more than they bought in the last 12 months. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$0.73 (vs US$0.77 in 3Q 2022) Third quarter 2023 results: EPS: US$0.73 (down from US$0.77 in 3Q 2022). Revenue: US$1.12b (up 16% from 3Q 2022). Net income: US$32.7m (down 4.5% from 3Q 2022). Profit margin: 2.9% (down from 3.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 14% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Oct 06
FirstService Corporation to Report Q3, 2023 Results on Oct 26, 2023 FirstService Corporation announced that they will report Q3, 2023 results at 7:30 AM, US Eastern Standard Time on Oct 26, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of US$0.23 per share at 0.6% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 28% and the cash payout ratio is 86%. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.4%). Announcement • Sep 13
FirstService Corporation Declares Quarterly Cash Dividend, Payable on October 6, 2023 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of USD 0.225 per Common Share. The dividend is payable on October 6, 2023 to holders of Common Shares of record at the close of business on September 29, 2023. The dividend on Common Shares is an "eligible dividend" for Canadian income tax purposes. Recent Insider Transactions • Aug 17
Chief Financial Officer recently sold €563k worth of stock On the 11th of August, Jeremy Rakusin sold around 4k shares on-market at roughly €141 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €2.1m. Jeremy has been a net seller over the last 12 months, reducing personal holdings by €6.3m. Buying Opportunity • Aug 03
Now 20% undervalued Over the last 90 days, the stock is up 6.1%. The fair value is estimated to be €176, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 9.7% in 2 years. Earnings is forecast to grow by 12% in the next 2 years. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$1.02 (vs US$0.78 in 2Q 2022) Second quarter 2023 results: EPS: US$1.02 (up from US$0.78 in 2Q 2022). Revenue: US$1.12b (up 20% from 2Q 2022). Net income: US$45.4m (up 31% from 2Q 2022). Profit margin: 4.1% (up from 3.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jul 12
FirstService Corporation to Report Q2, 2023 Results on Jul 27, 2023 FirstService Corporation announced that they will report Q2, 2023 results at 7:30 AM, US Eastern Standard Time on Jul 27, 2023 Recent Insider Transactions • Jul 05
Insider recently sold €2.1m worth of stock On the 30th of June, Alex Nguyen sold around 15k shares on-market at roughly €139 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €17m more than they bought in the last 12 months. Upcoming Dividend • Jun 22
Upcoming dividend of US$0.23 per share at 0.6% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.5%). Recent Insider Transactions • Jun 11
Independent Director recently sold €488k worth of stock On the 6th of June, Joan Sproul sold around 4k shares on-market at roughly €137 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €15m more than they bought in the last 12 months. Announcement • May 10
Firstservice Corporation Declares Quarterly Dividend, Payable on July 7, 2023 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of USD 0.225 per Common Share. The dividend is payable on July 7, 2023 to holders of Common Shares of record at the close of business on June 30, 2023. Reported Earnings • Apr 27
First quarter 2023 earnings released: EPS: US$0.36 (vs US$0.32 in 1Q 2022) First quarter 2023 results: EPS: US$0.36 (up from US$0.32 in 1Q 2022). Revenue: US$1.02b (up 22% from 1Q 2022). Net income: US$16.1m (up 14% from 1Q 2022). Profit margin: 1.6% (down from 1.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 35% decline forecast for the Real Estate industry in Germany. Upcoming Dividend • Mar 23
Upcoming dividend of US$0.23 per share at 0.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 11 April 2023. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.5%). Recent Insider Transactions • Mar 13
Chief Financial Officer recently sold €1.3m worth of stock On the 8th of March, Jeremy Rakusin sold around 10k shares on-market at roughly €131 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €3.5m. Jeremy has been a net seller over the last 12 months, reducing personal holdings by €6.4m. Recent Insider Transactions • Mar 01
Independent Director recently sold €196k worth of stock On the 23rd of February, Joan Sproul sold around 2k shares on-market at roughly €130 per share. This transaction amounted to 44% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €3.5m. Insiders have been net sellers, collectively disposing of €14m more than they bought in the last 12 months. Recent Insider Transactions • Feb 17
Senior VP recently sold €1.3m worth of stock On the 10th of February, Douglas Cooke sold around 10k shares on-market at roughly €134 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.8m more than they bought in the last 12 months. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: US$2.74 (vs US$3.08 in FY 2021) Full year 2022 results: EPS: US$2.74 (down from US$3.08 in FY 2021). Revenue: US$3.75b (up 15% from FY 2021). Net income: US$121.1m (down 11% from FY 2021). Profit margin: 3.2% (down from 4.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Announcement • Jan 18
FirstService Corporation to Report Q4, 2022 Results on Feb 07, 2023 FirstService Corporation announced that they will report Q4, 2022 results at 7:30 AM, US Eastern Standard Time on Feb 07, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 06 January 2023. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.5%). Announcement • Nov 30
FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on January 6, 2023 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common Shares of USD 0.2025 per Common Share. The dividend is payable on January 6, 2023 to holders of Common Shares of record at the close of business on December 30, 2022. Recent Insider Transactions • Nov 08
Independent Director recently sold €149k worth of stock On the 1st of November, Joan Sproul sold around 1k shares on-market at roughly €127 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €729k. Insiders have been net sellers, collectively disposing of €6.6m more than they bought in the last 12 months. Announcement • Oct 28
FirstService Corporation Provides Consolidated Revenue Guidance for the Fourth Quarter of 2022 FirstService Corporation provides consolidated revenue guidance for the fourth quarter of 2022. For the period, the company expects revenues will see low double-digit to mid-teens percentage growth over fourth quarter of 2021. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: US$0.77 (vs US$1.04 in 3Q 2021) Third quarter 2022 results: EPS: US$0.77 (down from US$1.04 in 3Q 2021). Revenue: US$960.5m (up 13% from 3Q 2021). Net income: US$34.2m (down 25% from 3Q 2021). Profit margin: 3.6% (down from 5.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Announcement • Oct 13
FirstService Corporation to Report Q3, 2022 Results on Oct 26, 2022 FirstService Corporation announced that they will report Q3, 2022 results at 7:30 AM, US Eastern Standard Time on Oct 26, 2022 Upcoming Dividend • Sep 21
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 28 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (5.7%). Announcement • Sep 14
FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on October 7, 2022 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common shares of USD 0.2025 per Common Share. The dividend is payable on October 7, 2022 to holders of Common Shares of record at the close of business on September 30, 2022. Recent Insider Transactions • Aug 31
Senior VP recently sold €388k worth of stock On the 25th of August, Douglas Cooke sold around 3k shares on-market at roughly €134 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €729k. Insiders have been net sellers, collectively disposing of €95m more than they bought in the last 12 months. Recent Insider Transactions • Aug 18
Chief Financial Officer recently sold €729k worth of stock On the 11th of August, Jeremy Rakusin sold around 6k shares on-market at roughly €130 per share. This was the largest sale by an insider in the last 3 months. Jeremy has been a seller over the last 12 months, reducing personal holdings by €5.9m. Recent Insider Transactions • Aug 05
President recently sold €6.5m worth of stock On the 2nd of August, D. Patterson sold around 50k shares on-market at roughly €131 per share. This was the largest sale by an insider in the last 3 months. This was D.'s only on-market trade for the last 12 months. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.78 (vs US$0.84 in 2Q 2021) Second quarter 2022 results: EPS: US$0.78 (down from US$0.84 in 2Q 2021). Revenue: US$930.7m (up 12% from 2Q 2021). Net income: US$34.6m (down 5.8% from 2Q 2021). Profit margin: 3.7% (down from 4.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.6% compared to a 44% decline forecast for the industry in Germany. Announcement • Jul 16
FirstService Corporation to Report Q2, 2022 Results on Jul 27, 2022 FirstService Corporation announced that they will report Q2, 2022 results at 7:30 AM, US Eastern Standard Time on Jul 27, 2022 Announcement • Jul 15
FirstService Corporation Announces the Appointment of Elizabeth Carducci to Its Board of Directors FirstService Corporation announced the appointment of Elizabeth Carducci to its Board of Directors. The addition of Ms. Carducci expands the Board to nine directors, eight of whom are independent directors. Ms. Carducci brings relevant and deep domain expertise to FirstService, particularly centered around her visionary leadership working with technology-driven organizations in the areas of customer and employee experience. She is currently an advisor and investor in early stage companies, having recently retired from a 21-year career at Medallia, a leading software company in the customer experience space. As a member of the founding team, Ms. Carducci joined Medallia in 2001 and helped build the company into an industry leader with 2,000 employees and more than $500 million in annual revenues. Ms. Carducci held numerous operational roles during her tenure at Medallia, culminating in her position as Chief Revenue Officer. Under her stewardship, Medallia became the leading provider of customer experience management solutions across a wide variety of industries, including the hospitality, retail and financial services sectors. Prior to joining Medallia, Ms. Carducci led the global contact center organization for Starwood Hotels, with previous roles at ITT Sheraton and Deloitte. Ms. Carducci holds an MBA from Stanford University and a Bachelor of Science in Electrical Engineering from the Massachusetts Institute of Technology. Upcoming Dividend • Jun 22
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 07 July 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (4.4%). Recent Insider Transactions • May 14
Independent Director recently bought €443k worth of stock On the 11th of May, Frederick Reichheld bought around 4k shares on-market at roughly €111 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €162m more in shares than they bought in the last 12 months. Announcement • May 12
FirstService Corporation Declares Quarterly Cash Dividend on Common Shares, Payable on July 7, 2022 FirstService Corporation announced that its Board of Directors has declared a quarterly cash dividend on the outstanding Common shares of USD 0.2025 per Common Share. The dividend is payable on July 7, 2022 to holders of Common Shares of record at the close of business on June 30, 2022. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: US$0.32 (vs US$0.50 in 1Q 2021) First quarter 2022 results: EPS: US$0.32 (down from US$0.50 in 1Q 2021). Revenue: US$834.6m (up 17% from 1Q 2021). Net income: US$14.1m (down 36% from 1Q 2021). Profit margin: 1.7% (down from 3.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 9.9% compared to a 33% decline forecast for the industry in Germany. Announcement • Apr 08
FirstService Corporation Appoints Yousry Bissada as Director FirstService Corporation at its annual meeting of shareholders, held on April 6, 2022, appointed Yousry Bissada as director. Announcement • Mar 29
FirstService Corporation to Report Q1, 2022 Results on Apr 27, 2022 FirstService Corporation announced that they will report Q1, 2022 results at 7:30 AM, US Eastern Standard Time on Apr 27, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 07 April 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (3.3%). Recent Insider Transactions • Mar 09
Lead Independent Director recently sold €581k worth of stock On the 4th of March, Bernard Ghert sold around 5k shares on-market at roughly €129 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €165m more than they bought in the last 12 months. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$3.08 (up from US$2.04 in FY 2020). Revenue: US$3.25b (up 17% from FY 2020). Net income: US$135.2m (up 55% from FY 2020). Profit margin: 4.2% (up from 3.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.8% compared to a 25% decline forecast for the industry in Germany. 