Property services firm FirstService's Q2 revenue up 9%, beats estimates
Overview
FirstService Q2 revenue rises 9% yr/yr, beating analyst expectations
Adjusted EPS for Q2 increases 26%, surpassing analyst estimates
Growth driven by Residential and Brands segments, aided by acquisitions
Outlook
Company says on track to meet 2025 goals despite macroeconomic uncertainties
Result Drivers
RESIDENTIAL SEGMENT - Revenue grew 6% with 3% organic growth, driven by efficiencies in property management service delivery
BRANDS SEGMENT - Revenue increased 11%, aided by recent acquisitions and strong performance in Century Fire Protection
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.42 bln | $1.40 bln (4 Analysts) |
Q2 Adjusted EPS | Beat | $1.71 | $1.47 (8 Analysts) |
Q2 EPS |
| $1.01 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy"
The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 29 three months ago
Press Release: ID:nGNX9gYDt
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