Welcome to our dedicated page for Firstservice news (Ticker: FSV), a resource for investors and traders seeking the latest updates and insights on Firstservice stock.
FirstService Corp (FSV) maintains its position as a leader in North American property services through strategic initiatives and operational updates. This dedicated news hub provides investors and industry professionals with essential updates on the company's residential management solutions and specialty service brands.
Access authoritative information on earnings announcements, strategic acquisitions, and service expansions across both FirstService Residential and FirstService Brands divisions. Our curated collection includes official press releases regarding leadership changes, partnership developments, and innovations in property management technologies.
Key updates cover operational milestones in community management services, facilities maintenance programs, and advancements through subsidiary brands. Monitor critical developments affecting FSV's market position in residential real estate services and commercial property solutions.
Bookmark this page for streamlined access to FirstService Corp's verified financial communications and operational updates. Regularly updated content ensures informed decision-making for stakeholders tracking the property services sector.
FirstService (FSV) reported strong Q1 2025 financial results with consolidated revenues reaching $1.25 billion, up 8% year-over-year. The company's Adjusted EBITDA increased 24% to $103.3 million, while Adjusted EPS grew 37% to $0.92.
FirstService Residential revenues rose 6% to $525.1 million, including 3% organic growth, with Adjusted EBITDA up 17% to $41.6 million. FirstService Brands revenues increased 10% to $725.7 million, though organic revenues declined 2%. The division's Adjusted EBITDA grew 22% to $67.8 million, driven by improvements in restoration and home services operations.
CEO Scott Patterson expressed satisfaction with the results, highlighting strong margins and earnings growth despite macroeconomic uncertainty. The company remains on track to meet its annual targets.
Floor Coverings International (FCI), North America's leading flooring franchise, announces significant leadership team changes to support its expansion goals. The company aims to reach 340 operating franchisees by year-end, having already secured 14 new agreements.
Key appointments include Hayden Shaw as Director of Franchise Development and internal promotions of Albert Hermans to Chief Development Officer, Grant Carter to Divisional Vice President – Startup, Katie Pynnonen to Senior Director of Brand Marketing, and Joe Benincasa to Divisional Senior Director of Operations.
The company's business model features Mobile Flooring Showrooms with investment costs ranging from $183,000 to $247,000. Performance metrics show the top 50% of operators generated $1.6 million in average revenue in 2024, while the top 10% achieved $3.1 million in average unit volume.
FirstService (TSX: FSV) (NASDAQ: FSV) held its annual shareholder meeting virtually on April 02, 2025, where eight director nominees were successfully elected to serve until the next annual meeting. The election results showed strong shareholder support, with most directors receiving over 90% approval.
Notable voting results include Jay S. Hennick receiving 89.26% approval with the highest withhold votes at 10.74%, while Yousry Bissada and Elizabeth Carducci received the highest approval rates at 98.81%. Shareholders also approved PricewaterhouseCoopers LLP as the auditor and passed a non-binding advisory resolution on executive compensation.
FirstService, a North American property services leader, operates through FirstService Residential and FirstService Brands, generating over US$5.2 billion in annual revenues with approximately 30,000 employees across North America.
FirstService (FSV) has announced key upcoming dates for shareholders and investors. The company will hold its Annual Meeting of Shareholders on April 2, 2025, at 11:00 a.m. ET via webcast, accessible through FirstService's website or the LUMI AGM platform.
Additionally, FirstService will release its first quarter 2025 financial results on April 24, 2025, at 7:30 am ET, followed by a conference call at 11:00 a.m. ET hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin.
FirstService is a North American leader in property services operating through two platforms: FirstService Residential, North America's largest residential community manager, and FirstService Brands, a major provider of essential property services. The company generates over $5.2 billion in annual revenues and employs approximately 30,000 people across North America.
FirstService (FSV) has announced the expansion and extension of its unsecured revolving credit facility to US$1.75 billion, up from US$1.25 billion, with a new five-year term maturing in February 2030. The facility includes an option to increase by an additional US$250 million under the same terms.
The credit facility, which was substantially oversubscribed by a syndicate of 11 banks led by The Toronto-Dominion Bank, will be used for working capital, general corporate purposes, and funding future tuck-under acquisitions. Combined with US$185 million in outstanding private long-term senior notes, this financing maintains FirstService's strong, investment-grade balance sheet.
FirstService generates over US$5.2 billion in annual revenues and employs approximately 30,000 people across North America through its two main platforms: FirstService Residential and FirstService Brands.
Floor Coverings International (FCI) announces that Toby and Amy Tabor, owners of FCI Vancouver-Portland, have been named 2024 Franchisees of the Year by the International Franchise Association (IFA). The couple, who have owned their franchise for 20 years, were recognized at the 65th IFA Annual Convention in Las Vegas for their outstanding performance and contributions to the franchise business model.
The Tabors were among the first FCI franchisees to hire external sales teams and explore new technologies. Their franchise has demonstrated significant success, contributing to FCI's impressive performance metrics. The company reports that its top 50% of operators generated $1.6 million in average revenue in 2023, while the top 10% achieved $3.3 million in average unit volume.
FCI operates through a unique business model featuring mobile flooring showrooms, with total investment costs ranging from $154,400 to $341,000. The company is currently offering franchise opportunities across hundreds of prime territories.
NANO Nuclear Energy (NASDAQ: NNE) has partnered with aRobotics Company for a multimillion-dollar project to build out its demonstration facility in Westchester County, New York. aRobotics will oversee the facility's retrofitting and manage the construction of non-nuclear elements for NANO Nuclear's four reactors in development: ZEUS, ODIN, LOKI MMR, and KRONOS MMR.
The agreement includes developing custom sensors and equipment for demonstration components, and supporting NANO Nuclear's SBIR Phase III project for its Annular Linear Induction Pump (ALIP) technology. aRobotics brings significant experience from its work with the Department of Defense and defense prime contractors, along with multiple honors including the NATO DIANA Challenge and nearly 20 SBIR awards.
FirstService (FSV) reported strong financial results for Q4 and full year 2024. Q4 revenues increased 27% to $1.37 billion, including 10% organic growth. Q4 Adjusted EBITDA rose 33% to $137.9 million, while Adjusted EPS grew 21% to $1.34.
For full year 2024, consolidated revenues reached $5.22 billion, up 20% from 2023. Adjusted EBITDA increased 24% to $513.7 million, and Adjusted EPS grew 7% to $5.00. The FirstService Residential segment generated revenues of $521.3 million in Q4, up 5%, while FirstService Brands recorded revenues of $844.1 million, up 45%.
The company's performance was driven by contract wins in high-rise markets, increased weather events and large-loss claims activity in restoration operations, and contribution from the Roofing Corp of America acquisition.
FirstService (FSV) has announced a 10% increase in its quarterly cash dividend, raising it from US$0.25 to US$0.275 per Common Share. The dividend will be payable on April 7, 2025, to shareholders of record as of March 31, 2025. This increase brings the annualized dividend to US$1.10, up from US$1.00 in the previous year.
This marks FirstService's tenth consecutive year of achieving at least 10% annual dividend growth, reflecting the company's strong earnings and free cash flow performance. The company, which generates over US$4.9 billion in annual revenues and employs approximately 30,000 people across North America, operates through two main platforms: FirstService Residential and FirstService Brands.
FirstService (TSX and NASDAQ: FSV) has scheduled the release of its fourth quarter and annual financial results for the fiscal year 2024 on February 5, 2025, at approximately 7:30 am ET. The company will host a conference call at 11:00 am ET on the same day to review the results, led by CEO D. Scott Patterson and CFO Jeremy Rakusin.
The call will be webcast live on FirstService's website, with participants able to register for dial-in access or join in listen-only mode. A replay of the webcast will be available in the 'Investors' section under 'Newsroom' following the call.
