Description

From Paul Davis To California Closets — FirstService Keeps Its Tuck-In Playbook Alive!

FirstService Corporation reported first quarter 2026 results that broadly aligned with management expectations, reflecting modest growth and some margin pressures primarily linked to market conditions and strategic investments. Overall consolidated revenues increased by 5% year-over-year to $1.32 billion, driven by organic growth exceeding half of this increase, while adjusted EBITDA rose 2% to $106 million, resulting in a slight margin contraction from 8.3% to 8%. Adjusted earnings per share grew by 3% to $0.95. The FirstService Residential segment achieved a 4% revenue increase to $546 million, entirely from organic sources despite the seasonally softer period. It saw solid contract renewals and new wins in core management services, partially offset by declines in ancillary services such as pool construction, renovation, and contracted labor for commercial maintenance. EBITDA margin improved by 50 basis points to 8.