Description

FirstService Corporation Century Fire Protection Is Surging—What Double-Digit Growth Says About the Order Book!

FirstService Corporation’s recent quarterly earnings report highlights several key aspects of its operational performance and financial position that can be analyzed for investment consideration. Their total revenues increased by 4% year over year, largely driven by tuck-under acquisitions made over the past year. However, organic growth remained flat, reflecting varied performance across different segments. The company reported a 3% increase in EBITDA, up to $165 million, with a margin of 11.4%. Earnings per share saw an 8% rise to $1.76, aided by reduced interest rates and lower debt levels. Segment-wise, FirstService Residential exhibited robust performance with an 8% increase in revenues, underpinned by solid contract wins and 5% organic growth, which met company expectations. This segment is expected to maintain its growth trajectory into the next quarter. On the contrary, FirstService Brands faced challenges. Revenues in this segment rose just 1%, hindered by a 4% decline in organic growth.