FirstService Corporation Stock Earnings Reports
FirstService Earnings Calls
Release date | Feb 05, 2025 |
EPS estimate | $1.37 |
EPS actual | $1.34 |
EPS Surprise | -2.19% |
Revenue estimate | 1.3B |
Revenue actual | 1.355B |
Revenue Surprise | 4.25% |
Release date | Oct 24, 2024 |
EPS estimate | $1.42 |
EPS actual | $1.63 |
EPS Surprise | 14.79% |
Revenue estimate | 1.302B |
Revenue actual | 1.407B |
Revenue Surprise | 8.08% |
Release date | Jul 25, 2024 |
EPS estimate | $1.26 |
EPS actual | $1.36 |
EPS Surprise | 7.94% |
Revenue estimate | 1.278B |
Revenue actual | 1.297B |
Revenue Surprise | 1.54% |
Release date | Apr 24, 2024 |
EPS estimate | $0.660 |
EPS actual | $0.670 |
EPS Surprise | 1.52% |
Revenue estimate | 1.127B |
Revenue actual | 1.153B |
Revenue Surprise | 2.29% |
Last 4 Quarters for FirstService
Below you can see how FSV performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
Release date | Apr 24, 2024 |
Fiscal end date | Mar 31, 2024 |
Price on release | $154.79 |
EPS estimate | $0.660 |
EPS actual | $0.670 |
EPS surprise | 1.52% |
Date | Price |
---|---|
Apr 18, 2024 | $149.40 |
Apr 19, 2024 | $149.38 |
Apr 22, 2024 | $152.13 |
Apr 23, 2024 | $153.27 |
Apr 24, 2024 | $154.79 |
Apr 25, 2024 | $151.62 |
Apr 26, 2024 | $149.80 |
Apr 29, 2024 | $149.18 |
Apr 30, 2024 | $147.00 |
4 days before | 3.61% |
4 days after | -5.03% |
On release day | -2.05% |
Change in period | -1.61% |
Release date | Jul 25, 2024 |
Fiscal end date | Jun 30, 2024 |
Price on release | $174.37 |
EPS estimate | $1.26 |
EPS actual | $1.36 |
EPS surprise | 7.94% |
Date | Price |
---|---|
Jul 19, 2024 | $164.07 |
Jul 22, 2024 | $166.02 |
Jul 23, 2024 | $166.32 |
Jul 24, 2024 | $163.74 |
Jul 25, 2024 | $174.37 |
Jul 26, 2024 | $175.63 |
Jul 29, 2024 | $174.83 |
Jul 30, 2024 | $175.52 |
Jul 31, 2024 | $174.56 |
4 days before | 6.28% |
4 days after | 0.109% |
On release day | 0.723% |
Change in period | 6.39% |
Release date | Oct 24, 2024 |
Fiscal end date | Sep 30, 2024 |
Price on release | $189.65 |
EPS estimate | $1.42 |
EPS actual | $1.63 |
EPS surprise | 14.79% |
Date | Price |
---|---|
Oct 18, 2024 | $186.98 |
Oct 21, 2024 | $185.09 |
Oct 22, 2024 | $183.31 |
Oct 23, 2024 | $184.54 |
Oct 24, 2024 | $189.65 |
Oct 25, 2024 | $189.69 |
Oct 28, 2024 | $188.33 |
Oct 29, 2024 | $190.85 |
Oct 30, 2024 | $188.16 |
4 days before | 1.43% |
4 days after | -0.786% |
On release day | 0.0211% |
Change in period | 0.631% |
Release date | Feb 05, 2025 |
Fiscal end date | Dec 30, 2024 |
Price on release | $173.94 |
EPS estimate | $1.37 |
EPS actual | $1.34 |
EPS surprise | -2.19% |
Date | Price |
---|---|
Jan 30, 2025 | $184.18 |
Jan 31, 2025 | $181.87 |
Feb 03, 2025 | $180.40 |
Feb 04, 2025 | $181.65 |
Feb 05, 2025 | $173.94 |
Feb 06, 2025 | $171.43 |
Feb 07, 2025 | $173.03 |
Feb 10, 2025 | $177.00 |
Feb 11, 2025 | $174.10 |
4 days before | -5.56% |
4 days after | 0.0920% |
On release day | -1.44% |
Change in period | -5.47% |
FirstService Earnings Call Transcript Summary of Q4 2024
Consolidated revenues reached $1.37 billion in Q4 (up 27%), with EBITDA at $137.9 million (up 33%). Annual revenues for 2024 totaled $5.22 billion (up 20%), with organic growth of 4% and adjusted EBITDA of $513.7 million (up 24%). Adjusted EPS for Q4 increased 21% to $1.34, while full-year adjusted EPS rose 7% to $5.00.
Division Highlights
- FirstService Residential:
- Q4 revenues increased by 5%, with organic growth at 3%. Annual growth for 2024 was 5% organic.
- Budgetary pressures stem from rising costs, particularly insurance premiums and reserve requirements, impacting management contracts.
- Anticipated organic growth in the low single-digit range for the first half of 2025, recovering as communities address financial challenges.
- FirstService Brands:
- Q4 revenues surged 45% driven by Roofing Corp of America acquisition and strong restoration results, with organic growth at 16%.
- Restoration segment saw significant contributions from hurricanes Helene and Milton.
- Expected mid-single-digit growth for restoration in Q1, factoring in backlog from previous storm damage.
- Roofing Corp of America:
- Positive first full year post-acquisition, with continued growth prospects.
- Anticipated Q1 revenue increase of 50% due to integration of new contractors.
Market Outlook and Guidance
- 2025 expected to yield high single-digit top-line growth, with organic growth anticipated in the range of 4-5% across divisions.
- The first half of 2025 is projected to outperform due to recent acquisitions, while the second half is expected to revert to mid-single-digit growth.
- Margins for the brands division are projected to be modestly up, while FirstService Residential margins are expected to remain stable.
Cost Dynamics and Strategic Considerations
- Projected cost increases due to tariffs are expected to have a limited impact, with a robust ability to pass costs through to consumers.
- Increasing homeowner self-insurance trends are recognized, necessitating heightened brand awareness in high-risk areas.
- Acquisition strategy remains focused on roofing opportunities, with continued exploration across all segments as market consolidation accelerates.
Capital Deployment and Dividends
- $285 million in cash flow from operations for 2024, with over $300 million allocated for growth, primarily towards acquisitions.
- A 10% dividend increase announced, raising it to $1.10 per share, highlighting sustainable cash generation and growth.
Key Risks and Considerations
- Ongoing budgetary pressures might temporarily hinder FirstService Residential's growth, though a recovery in the second half of the year is anticipated.
- Uncertainties around storm recovery timelines and reconstruction backlog may complicate short-term forecasting.
- Interest rate environments and currency fluctuations remain risks impacting EPS growth.
Conclusion
FirstService Corporation has exhibited robust growth in Q4 and for the year overall, driven by strategic acquisitions and strong performance across its brands and residential divisions. While challenges remain in terms of cost pressures and market dynamics, the outlook suggests continued momentum in growth and operational effectiveness. Investors should monitor the company's implementation of its strategic initiatives, especially in the roofing sector and impacts from the evolving insurance landscape.