Welcome to our dedicated page for FirstService Corporation Common Shares news (Ticker: FSV), a resource for investors and traders seeking the latest updates and insights on FirstService Corporation Common Shares stock.
FirstService Corporation (NASDAQ: FSV) is a leading provider of residential property services in the United States and Canada. The company operates through two main segments: FirstService Residential and FirstService Brands. Established to deliver exceptional property management solutions, FirstService Corporation is dedicated to enhancing the residential living experience through its comprehensive range of services.
The FirstService Residential segment specializes in property management for private residential communities. This includes condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments. The segment also offers a range of ancillary services such as building engineering and maintenance, swimming pool and amenity management, security, and concierge services. Additionally, FirstService Residential provides financial services, including cash management, banking transactions, specialized property insurance brokerage, energy management solutions, and advisory services.
The FirstService Brands segment is known for generating most of the company’s revenue. It offers property services to residential and commercial customers through well-recognized brands like California Closets, Paul Davis Restoration, CertaPro Painters, Pillar to Post, Floor Coverings International, College Pro Painters, and Service America. These brands are instrumental in providing customized solutions ranging from home improvement to emergency restoration services.
FirstService Corporation's recent acquisition of Roofing Corporation of America highlights its commitment to expanding its service offerings and enhancing its market presence. Roofing Corp. is a full-service provider of commercial, industrial, and residential roofing services, including replacements, repairs, new installations, and preventative maintenance. This strategic acquisition supports FirstService's growth strategy and positions the company as a leading player in the roofing industry.
Financially, FirstService Corporation continues to demonstrate robust performance with double-digit revenue growth across both divisions. The company remains focused on strategic acquisitions and organic growth to drive its expansion and deliver enhanced value to its shareholders. With a strong foundation and a diversified service portfolio, FirstService Corporation is well-positioned to meet the evolving needs of its clients and capitalize on new market opportunities.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) reported strong financial results for Q2 2021, with revenues of $831.6 million, reflecting a 34% increase year-over-year. Adjusted EBITDA increased by 26% to $89.9 million, and Adjusted EPS rose 41% to $1.21. For H1 2021, revenues reached $1.54 billion, a 23% increase compared to H1 2020. The growth was driven by robust organic growth across all operations, particularly in the property management sector. CEO Scott Patterson highlighted the company's resilience in a challenging labor market and an emphasis on recruitment to meet demand.
FirstService Corporation (FSV) will release its second-quarter financial results for the period ending June 30, 2021, on July 27, 2021, at 7:30 am ET. A conference call to review these results will occur at 11:00 am ET on the same day, hosted by CEO D. Scott Patterson and CFO Jeremy Rakusin. The call can be accessed at 1-888-241-0551 for toll-free callers and 647-427-3415 for international callers. FirstService operates in the property services sector, generating over US$2.8 billion annually and employing around 24,000 people across North America.
FirstService Corporation has announced the acquisition of Maxons Restorations, a leading provider of emergency response and restoration services in New York City. This strategic move aims to expand First Onsite Property Restoration's presence in the Tri-State area, enhancing service offerings for commercial accounts. Maxons' CEO and executives retain a minority interest and will manage daily operations. FirstService generates over $2.8 billion in annual revenue and employs about 24,000 staff across North America, trading under the symbol FSV.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) appointed Steve H. Grimshaw to its Board of Directors, expanding the board to nine members, with seven being independent. Grimshaw, the Executive Chairman of Caliber, Inc., has a proven track record of growth in service-based businesses, significantly increasing Caliber's revenue from $280 million to over $4 billion. His experience is expected to enhance FirstService's commitment to service excellence and customer experience, critical for the company's ongoing success in the property services sector.
FirstService Corporation (TSX: FSV; NASDAQ: FSV) announced a quarterly cash dividend of US$0.1825 per Common Share, payable on July 7, 2021, to shareholders on record by June 30, 2021. This dividend is categorized as an 'eligible dividend' for Canadian tax purposes. FirstService is a leader in property services in North America, generating over $2.8 billion in annual revenue and employing approximately 24,000 people. The company's major service platforms include FirstService Residential and FirstService Brands.
FirstService Corporation (FSV) reported a strong first quarter for 2021, achieving revenues of $711.1 million, a 12% increase year-over-year. Organic growth contributed to half of this increase. The company saw a 36% rise in Adjusted EBITDA to $59.8 million, while Adjusted EPS surged by 78% to $0.66. GAAP Operating Earnings were $33.9 million, up from $16.0 million in Q1 2020. FirstService Residential and FirstService Brands showed solid performances, with revenues of $350.5 million and $360.6 million, respectively, driven by home improvement and restoration activities.
FirstService Corporation (FSV) will release its financial results for Q1 2021 on April 27, 2021, at 7:30 AM ET. A conference call, led by CEO D. Scott Patterson and CFO Jeremy Rakusin, will follow at 11:00 AM ET. Interested parties can join via toll-free number 1-888-241-0551 or international number 647-427-3415. For those unable to attend, a rebroadcast will be available for 90 days. As a leader in the property services sector, FirstService generates approximately US$2.8 billion in annual revenues with around 24,000 employees across North America.
FirstService Corporation announced the election of eight directors at its recent annual shareholder meeting held in Toronto. All nominees listed in the February 19, 2021 Circular were elected to serve until the next annual meeting. The votes reflected strong support, with individual nominees receiving up to 99.872% in favor. Additionally, shareholders approved the appointment of PricewaterhouseCoopers LLP as auditors, amendments to the stock option plan, and a non-binding advisory resolution on executive compensation. FirstService generates approximately US$2.8 billion in annual revenues.
FirstService Corporation (NASDAQ: FSV) will hold its Annual and Special Meeting of Shareholders on April 6, 2021, at 4:00 p.m. Toronto time. The event will be accessible via webcast on the company's website in the Investors section and through conference call. FirstService, a leader in property services with annual revenues of approximately US$2.8 billion and around 24,000 employees, operates through two platforms: FirstService Residential and FirstService Brands. The meeting will also be available for replay on the website.
FirstService Corporation (FSV) announced the acquisition of its Minneapolis franchise, expanding the California Closets company-owned operations to 20 out of 80 total franchises. The acquisition is part of a strategy to grow in key markets, with expectations to enhance growth in the Midwest by migrating production to a centralized manufacturing center. FirstService generates approximately $2.8 billion in annual revenues and employs around 24,000 people across North America.
FAQ
What is the current stock price of FirstService Corporation Common Shares (FSV)?
What is the market cap of FirstService Corporation Common Shares (FSV)?
What does FirstService Corporation do?
What are the main segments of FirstService Corporation?
What services does FirstService Residential offer?
Which brands are part of FirstService Brands?
What was FirstService Corporation's recent acquisition?
How does FirstService Corporation generate most of its revenue?
Where does FirstService Corporation operate?
Who are the key executives of FirstService Corporation?
What financial services does FirstService Residential offer?
What recent news is there about FirstService Corporation?
