Announcement • 6h
FirstService Corporation to Report Q2, 2026 Results on Jul 23, 2026 FirstService Corporation announced that they will report Q2, 2026 results at 7:30 AM, US Eastern Standard Time on Jul 23, 2026 Announcement • Jul 07
Firstservice Residential Launches Resilience First Risk Management Program FirstService Residential announced the launch of Resilience First, a practical risk management program designed to help communities reduce the risk of avoidable damage, strengthen preparedness and support a more coordinated response before and after water, fire, and storm-related incidents. Created to support community associations and high-rise properties, Resilience First unites FirstService Residential's expansive local footprint and expertise to unlock greater value for the communities it serves. Central to this approach is collaboration with companies that lead their industries with unmatched scale and capability – First Onsite Property Restoration, Roofing Corp. of America, and FirstService Insurance Brokers – each recognized for advancing innovation and service in residential communities. Together, they enable boards and property management teams to take a more proactive approach to managing property risk. Through complimentary, no-obligation, pre-loss inspections with established partners, the program helps communities evaluate property conditions and identify practical next steps before an incident occurs. The program also supports managers and boards as they secure bids, coordinate repairs or improvements, and document preparedness efforts that may be relevant to property insurance readiness. Following a loss, Resilience First is designed to provide FirstService Residential-managed properties with a clearer path to engage support quickly and maintain consistent communication during response and recovery. Resilience First is designed to make that process more manageable by providing complimentary pre-loss inspections, practical planning support and a coordinated path to engage restoration, roofing and insurance resources before and after a loss. Upcoming Dividend • Jun 23
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 American dividend payers (4.3%). Lower than average of industry peers (2.2%). Declared Dividend • May 11
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 0.9%, 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. 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. Reported Earnings • Apr 24
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$0.44 (up from US$0.062 in 1Q 2025). Revenue: US$1.32b (up 5.3% from 1Q 2025). Net income: US$20.0m (up US$17.2m from 1Q 2025). Profit margin: 1.5% (up from 0.2% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Real Estate industry in the US. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 17
Now 21% overvalued Over the last 90 days, the stock has fallen 6.1% to US$152. The fair value is estimated to be US$126, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 4.9%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Upcoming Dividend • Mar 24
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 31 March 2026. Payment date: 07 April 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (2.1%). 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 New Risk • Feb 20
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$7.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Significant insider selling over the past 3 months (US$7.3m sold). Recent Insider Transactions • Feb 20
President recently sold US$7.3m worth of stock On the 18th of February, D. Patterson sold around 47k shares on-market at roughly US$157 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. D. has been a net seller over the last 12 months, reducing personal holdings by US$22m. Declared Dividend • Feb 05
Fourth quarter dividend increased to US$0.30 Dividend of US$0.30 is 11% higher than last year. Ex-date: 31st March 2026 Payment date: 7th April 2026 Dividend yield will be 0.7%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 35%. Cash payout ratio: 16%. Buy Or Sell Opportunity • Feb 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.3% to US$165. The fair value is estimated to be US$136, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 4.9%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. 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 Upcoming Dividend • Dec 24
Upcoming dividend of US$0.28 per share Eligible shareholders must have bought the stock before 31 December 2025. Payment date: 07 January 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (2.4%). Declared Dividend • Dec 07
Third quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 31st December 2025 Payment date: 7th January 2026 Dividend yield will be 0.7%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 35%. Cash payout ratio: 17%. 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. Recent Insider Transactions • Nov 26
Independent Director recently sold US$409k worth of stock On the 20th of November, Joan Sproul sold around 3k shares on-market at roughly US$151 per share. This transaction amounted to 54% 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 US$25m. Insiders have been net sellers, collectively disposing of US$64m more than they bought in the last 12 months. Reported Earnings • Oct 24
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: US$1.26 (down from US$1.34 in 3Q 2024). Revenue: US$1.45b (up 3.7% from 3Q 2024). Net income: US$57.2m (down 5.6% from 3Q 2024). Profit margin: 3.9% (down from 4.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 7.4%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Real Estate industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. 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. Buy Or Sell Opportunity • Oct 18
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.9% to US$183. The fair value is estimated to be US$152, 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, while earnings per share has been flat. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. 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 Upcoming Dividend • Sep 26
Upcoming dividend of US$0.28 per share Eligible shareholders must have bought the stock before 30 September 2025. Payment date: 07 October 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (2.2%). Recent Insider Transactions • Sep 14
Independent Director recently sold US$1.2m worth of stock On the 12th of September, Erin Wallace sold around 6k shares on-market at roughly US$206 per share. This transaction amounted to 43% 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 US$5.0m. Insiders have been net sellers, collectively disposing of US$74m more than they bought in the last 12 months. Declared Dividend • Sep 12
Second quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 30th September 2025 Payment date: 7th October 2025 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 33%. Cash payout ratio: 20%. 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. Recent Insider Transactions • Aug 22
President recently sold US$5.0m worth of stock On the 20th of August, D. Patterson sold around 25k shares on-market at roughly US$201 per share. This transaction amounted to 56% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. D. has been a net seller over the last 12 months, reducing personal holdings by US$32m. Recent Insider Transactions • Jul 31
Chief Financial Officer recently sold US$753k worth of stock On the 29th of July, Jeremy Rakusin sold around 4k shares on-market at roughly US$198 per share. This transaction amounted to 1.6% 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 US$7.5m. Reported Earnings • Jul 25
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$1.01 (up from US$0.78 in 2Q 2024). Revenue: US$1.42b (up 9.1% from 2Q 2024). Net income: US$46.1m (up 32% from 2Q 2024). Profit margin: 3.3% (up from 2.7% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Real Estate industry in the US. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. 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 Buy Or Sell Opportunity • Jul 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.4% to US$176. The fair value is estimated to be US$146, 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 4.3%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. Recent Insider Transactions • Jun 26
Independent Director recently sold US$529k worth of stock On the 24th of June, Erin Wallace sold around 3k shares on-market at roughly US$176 per share. This transaction amounted to 19% 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 US$110m more than they bought in the last 12 months. Upcoming Dividend • Jun 23
Upcoming dividend of US$0.28 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 08 July 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.6%). Recent Insider Transactions • Jun 15
Independent Director recently sold US$445k worth of stock On the 12th of June, Joan Sproul sold around 3k shares on-market at roughly US$178 per share. This transaction amounted to 63% 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 US$110m more than they bought in the last 12 months. Declared Dividend • May 12
First quarter dividend of US$0.28 announced Shareholders will receive a dividend of US$0.28. Ex-date: 30th June 2025 Payment date: 8th July 2025 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 35%. Cash payout ratio: 23%. 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. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 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. Reported Earnings • Apr 25
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.062 (down from US$0.14 in 1Q 2024). Revenue: US$1.25b (up 8.0% from 1Q 2024). Net income: US$2.80m (down 56% from 1Q 2024). Profit margin: 0.2% (down from 0.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 78%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Real Estate industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 24
Upcoming dividend of US$0.28 per share Eligible shareholders must have bought the stock before 31 March 2025. Payment date: 07 April 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.3%). 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 Recent Insider Transactions • Feb 16
President recently sold US$8.6m worth of stock On the 13th of February, D. Patterson sold around 49k shares on-market at roughly US$174 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. D. has been a net seller over the last 12 months, reducing personal holdings by US$17m. Declared Dividend • Feb 06
Fourth quarter dividend increased to US$0.28 Dividend of US$0.28 is 10% higher than last year. Ex-date: 31st March 2025 Payment date: 7th April 2025 Dividend yield will be 0.6%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 34%. Cash payout ratio: 26%. Reported Earnings • Feb 05
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: US$2.99 (up from US$2.25 in FY 2023). Revenue: US$5.22b (up 20% from FY 2023). Net income: US$134.4m (up 34% from FY 2023). Profit margin: 2.6% (up from 2.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.6%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Real Estate industry in the US. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. 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. Buy Or Sell Opportunity • Jan 15
Now 21% overvalued Over the last 90 days, the stock has fallen 4.5% to US$180. The fair value is estimated to be US$148, 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 11%. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 74% in the next 2 years. 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 Upcoming Dividend • Dec 24
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 31 December 2024. Payment date: 07 January 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (2.4%). Declared Dividend • Dec 09
Third quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 31st December 2024 Payment date: 7th January 2025 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 40%. Cash payout ratio: 22%. 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 15
Senior VP recently sold US$3.9m worth of stock On the 13th of November, Douglas Cooke sold around 21k shares on-market at roughly US$187 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 US$42m. Insiders have been net sellers, collectively disposing of US$101m more than they bought in the last 12 months. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 58%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% 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. 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 US$22m worth of stock On the 17th of September, Jay Hennick sold around 122k shares on-market at roughly US$180 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 US$42m. Jay has been a net seller over the last 12 months, reducing personal holdings by US$64m. 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 0.5%, 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 US$42m worth of stock On the 23rd of August, Jay Hennick sold around 240k shares on-market at roughly US$175 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: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 4.2%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in the US. 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 10
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at US$154. The fair value is estimated to be US$128, 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 Buy Or Sell Opportunity • Jul 02
Now 20% overvalued Over the last 90 days, the stock has fallen 4.3% to US$154. The fair value is estimated to be US$128, 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. Recent Insider Transactions • Jun 25
Independent Director recently sold US$602k worth of stock On the 20th of June, Joan Sproul sold around 4k shares on-market at roughly US$150 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 US$36m more than they bought in the last 12 months. 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: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Recent Insider Transactions • Mar 25
CEO & Non-Independent Director recently sold US$1.4m worth of stock On the 21st of March, D. Patterson sold around 8k shares on-market at roughly US$170 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 US$7.9m. D. has been a net seller over the last 12 months, reducing personal holdings by US$16m. 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 American dividend payers (4.7%). Lower than average of industry peers (2.7%). Recent Insider Transactions • Mar 18
Senior VP recently sold US$897k worth of stock On the 14th of March, Douglas Cooke sold around 5k shares on-market at roughly US$169 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 US$7.9m. Insiders have been net sellers, collectively disposing of US$34m more than they bought in the last 12 months. Recent Insider Transactions • Feb 28
Insider recently bought US$1.2m worth of stock On the 23rd of February, Alex Nguyen bought around 7k shares on-market at roughly US$166 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 US$3.1m. Despite this recent purchase, insiders have collectively sold US$20m more in shares than they bought in the last 12 months. Reported Earnings • Feb 26
Full year 2023 earnings: EPS misses analyst expectations 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 was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Real Estate industry in the US. 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 3% per year. Recent Insider Transactions • Feb 20
Senior VP recently sold US$1.7m worth of stock On the 15th of February, Douglas Cooke sold around 10k shares on-market at roughly US$166 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 US$2.5m. Insiders have been net sellers, collectively disposing of US$13m more than they bought in the last 12 months. Recent Insider Transactions • Feb 14
Insider recently bought US$3.1m worth of stock On the 8th of February, Alex Nguyen bought around 38k shares on-market at roughly US$83.89 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 US$14m more in shares than they bought in the last 12 months. Declared Dividend • Feb 07
Third quarter dividend increased to US$0.25 Dividend of US$0.25 is 11% higher than last year. 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: 30%. 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 29
Chief Financial Officer recently sold US$1.5m worth of stock On the 22nd of December, Jeremy Rakusin sold around 9k shares on-market at roughly US$163 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 US$8.2m. Price Target Changed • Dec 24
Price target increased by 7.6% to US$185 Up from US$172, the current price target is an average from 2 analysts. New target price is 13% above last closing price of US$163. Stock is up 33% over the past year. The company is forecast to post earnings per share of US$2.78 for next year compared to US$2.74 last year. 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 American dividend payers (4.5%). Lower than average of industry peers (3.1%). 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 09
Independent Director recently sold US$878k worth of stock On the 3rd of November, Erin Wallace sold around 6k shares on-market at roughly US$149 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 US$20m more than they bought in the last 12 months. Reported Earnings • Oct 27
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Real Estate industry in the US. 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 1% 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 American dividend payers (5.0%). Lower than average of industry peers (2.1%). 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 US$617k worth of stock On the 11th of August, Jeremy Rakusin sold around 4k shares on-market at roughly US$154 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 US$2.3m. Jeremy has been a net seller over the last 12 months, reducing personal holdings by US$6.7m. Reported Earnings • Jul 28
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Real Estate industry in the US. 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 9% 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 06
Insider recently sold US$2.3m worth of stock On the 30th of June, Alex Nguyen sold around 15k shares on-market at roughly US$152 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 US$19m 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 American dividend payers (5.0%). Lower than average of industry peers (2.3%). Recent Insider Transactions • Jun 11
Independent Director recently sold US$522k worth of stock On the 6th of June, Joan Sproul sold around 4k shares on-market at roughly US$147 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 US$16m 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.