What factors drove the changes in Firstservice's revenue and profit?

What is Firstservice's latest dividend and current dividend yield?

What is Firstservice's gross profit margin?

What were the key takeaways from Firstservice's earnings call?

What is the revenue and EPS growth rate for Firstservice year over year?

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Did Firstservice beat or miss consensus estimates last quarter?

What guidance did Firstservice's management provide for the next earnings period?

- **Strong Annual Growth**: 5% revenue, 10% EBITDA, 15% EPS growth despite macro challenges.
- **Division Performance**: Residential outperforms with 7% revenue growth, Brands constrained by restoration/roofing headwinds.
- **M&A Focus**: Selective tuck-under acquisitions, no dividend buyback plans.
- **2026 Outlook**: Mid-single digit revenue growth, stable margins, cautious on Q1 but optimistic for full year recovery in restoration.

**【CEO Summary Section】**
- **Overall Performance**: Q4 revenues $1.38B (+1% YoY), adjusted EBITDA $138M (flat YoY), adjusted EPS $1.37 (+2% YoY). Full year revenues $5.5B (+5%), EBITDA $563M (+10%), EPS $5.75 (+15%).
- **FirstService Residential**: Q4 revenues $563M (+8%), EBITDA $51.5M (+12%), margin 9.1%. Full year revenues $2.3B (+7%), EBITDA $202M (+13%), margin 9.1%.
- **FirstService Brands**: Q4 revenues $820M (-3%), EBITDA $88.5M (-12%), margin 10.8%. Full year revenues $3.2B (+4%), EBITDA $354M (+4%), margin 11%.
- **Division Outlook**: Residential expects mid-single digit organic growth (3-4% Q1, 5-6% full year). Restoration cautious on Q1 but optimistic for full year. Roofing stabilizing backlog, targeting modest growth.

**【CFO Financial Commentary】**
- **Cash Flow**: Q4 operating cash flow $155M (+33% YoY), full year $445M (+56%).
- **Capital Allocation**: 2026 CapEx $140M, acquisitions selective. Dividend increased 11% to $1.22/share.
- **Balance Sheet**: Leverage 1.6x, cash + undrawn credit $970M.
- **Outlook**: Q1 revenue +mid-single digits, EBITDA flat YoY. Full year EBITDA +high single digits, margin ~10.2%.

**【Q&A Highlights】**
- **M&A Strategy**: Patient in high-multiple environment, focused on tuck-under acquisitions (1-2/year). No buyback plans.
- **Roofing Challenges**: Competitive margin compression, but stable backlog. Focused on reroofing growth.
- **Winter Storm Impact**: Early-stage activity, Q1 revenues modestly up YoY. Reconstruction work potential TBD.
- **Margin Trends**: Residential margins stable, Brands margins pressured in Q1 but improving sequentially.
- **Data Center Exposure**: Century Fire benefits from warehouse/data center construction, no cross-division strategy.

FirstService Corp (FSV) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: 4% YoY driven by acquisitions, with Residential up 8% and Fire Protection up 10%. 
- **Profitability**: EBITDA +3% to $165M, EPS +8% to $1.76, supported by cost control and reduced debt interest. 
- **Segment Performance**: Strong Residential and Fire Protection offset by challenges in restoration (down 7% YoY) and roofing (organic down 8% YoY). 
- **2025 Outlook**: High single-digit EBITDA growth, with cautious optimism on macro stabilization.

**【CEO Summary Section】**
- Total revenues grew 4% YoY, driven by tuck-under acquisitions, with organic growth flat due to gains in Residential and Fire Protection offset by declines in restoration and roofing. EBITDA rose 3% to $165M, margin 11.4%, and EPS increased 8% to $1.76.
- **FirstService Residential**: Revenues up 8% (5% organic), with Q4 growth expected in mid-single digits. **FirstService Brands**: Revenues up 1%, with restoration down 7% YoY due to mild weather, and roofing organically down 8% due to delayed projects. **Century Fire Protection**: Revenues up 10% YoY, supported by repair and inspection services. **Home Service Brands**: Revenues flat YoY, with teams maintaining performance through higher close ratios.

**【CFO Financial Commentary】**
- Year-to-date (YTD) revenues $4.1B (+7% YoY), EBITDA $425M (+13% YoY), and EPS $4.39 (+20% YoY). Q3 cash flow $125M, net debt $985M, and leverage 1.7x. 2025 outlook: Mid-single-digit revenue growth and high single-digit EBITDA growth.
- **FirstService Residential**: EBITDA $66.4M (+13% YoY), margin 11% vs. 10.5% last year. **FirstService Brands**: EBITDA $102.1M (-3.5% YoY), margin 12.1% vs. 12.6% last year, impacted by restoration and roofing declines.

**【Q&A Highlights】**
- **Restoration Market Share**: Gains from national account focus and platform improvements, despite mild weather. **Roofing Challenges**: Delayed commercial projects and reduced new construction, with 2025 Q4 expected to remain weak organically. **M&A Activity**: Competitive valuations, but selective investments in white-space opportunities. **Pricing Strategy**: Focus on efficiency and service quality, with no major margin initiatives for 2026.

FirstService Corp (FSV) Q3 2025 Earnings Call Transcript

- **Q2 Growth Strong**: 9% revenue, 19% EBITDA, 26% EPS growth. Organic momentum in Residential (3%), Brands (2%), and Fire (+10%).
- **Margin Expansion**: 11.1% consolidated margin (+90bps), driven by Residential (11%) and Brands (11.6%).
- **Key Outlook**: Mid-single-digit revenue growth, EBITDA > revenue. Residential organic to mid-single digits, Brands flat to up margin.
- **Cash Flow Strength**: Debt reduced to 1.8x, $860M liquidity for M&A and growth.
- **Segment Risks**: Roofing project deferrals, Home Service macro weakness, Restoration weather volatility.

**【CEO Summary Section】**
- **Q2 2025 Performance**: Total revenue up 9% YoY ($1.4B), driven by 25% tuck-under acquisitions. Organic growth 2% (3% in Residential, 1% in Brands). EBITDA rose 19% to $157M, with a 11.1% margin (+90bps). EPS increased 26% to $1.71.
- **Division Highlights**: 
  - *Residential*: 6% revenue growth (3% organic), improving net contract wins. Q3+ organic growth expected to trend toward mid-single digits.
  - *Brands*: 11% revenue growth (2% organic in restoration). Momentum in day-to-day claims (+6% claims, +5% jobs) offset by flat Q3 YoY due to 2024 storms.
  - *Roofing*: 25% growth (25% from Crowder acquisition), 10% organic decline due to deferred projects. Q3 outlook: +10% YoY, flat organic.
  - *Century Fire*: 15% revenue growth (10% organic), strong repair/service demand. Utah acquisitions add Western U.S. growth.
  - *Home Service*: Flat revenue (10% lead decline offset by higher close ratio and job size). Q3 expected flat YoY, with optimism on 2025 rate cuts.

**【CFO Financial Commentary】**
- **Year-to-Date (YTD) 2025**: Revenues $2.7B (+9%), EBITDA $260M (+21%), EPS $2.63 (+30%).
- **Division Margins**: 
  - *Residential*: 11% EBITDA margin (+40bps YoY), efficiency gains moderating in H2.
  - *Brands*: 11.6% margin (+110bps YoY), restoration and home improvement cost controls.
- **Cash Flow & Capital**: 
  - Q2 operating cash flow $163M (+25%), free cash flow $70M used to reduce debt to 1.8x net debt/EBITDA.
  - CapEx $30M/Q2, M&A $40M (fire protection tuck-unders). Liquidity $860M.
- **Outlook**: Mid-single-digit revenue growth, EBITDA > revenue growth. Residential organic mid-single-digit, Brands flat to up margin.

**【Q&A Highlights】**
- **Residential Growth**: Community budget normalization supports Q3+ organic growth. Florida fee increases stabilize, but some disruption remains.
- **Brands Margins**: Long-term margin expansion via operating leverage in home improvement and restoration. Restoration volatility persists with weather dependency.
- **Roofing Dynamics**: Macro uncertainty (tariffs, rates) delays projects, but Q3 backlog pickup signals recovery. Structural demand remains strong.
- **M&A Strategy**: Opportunistic platform deals possible, but focus on tuck-unders in existing segments. Fire protection outperformance driven by service mix shift.
- **Home Improvement**: Affluent customer focus (e.g., California Closets) mitigates broader market weakness. Average job size growth reflects market positioning.

FirstService Corporation (FSV) Q2 2025 Earnings Call Transcript

- **Revenue Growth**: 8% YoY driven by acquisitions, with modest organic gains in Residential.
- **Margin Expansion**: 24% EBITDA rise to $103.3M (8.3% margin), fueled by cost efficiencies in Residential and Brands.
- **Division Highlights**:
  - **Residential**: 7.9% margin (70bp YoY improvement), stabilizing organic growth.
  - **Brands**: Roofing up 50% YoY from acquisitions, but organic decline due to economic delays.
- **Challenges**: Consumer hesitation in Home Services, commercial contract deferrals, and FX impacts.
- **Financial Strength**: $800M liquidity, disciplined M&A, and 2x leverage ratio.
- **Outlook**: Q2 growth similar to Q1, with optimism for second-half demand recovery.

**【CEO Summary Section】**
- **Revenue Growth**: Total revenue increased 8% YoY, driven by tuck-under acquisitions and modest organic growth. Residential division revenue rose 6% (half organic, half acquisitions), while Brands division grew 10% entirely from acquisitions.
- **Profitability**: EBITDA rose 24% to $103.3 million (8.3% margin), with a 110bp margin improvement. EPS increased 37% to $0.92.
- **Division Performance**:
  - **Residential**: Organic growth stabilized, with margin expansion to 7.9% (70bp YoY improvement) due to cost efficiencies.
  - **Brands**: Organic decline in Home Services offset by gains in Century Fire. Roofing saw 50% YoY growth from Florida acquisitions but organic decline due to weather and contract deferrals.
  - **Restoration**: Revenues flat organically, with solid U.S. hurricane-related gains offsetting Canadian weakness.
- **Challenges**: Economic uncertainty caused delays in commercial contracts (e.g., Roofing, Century Fire) and lower consumer confidence in Home Services. FX impacts reduced organic growth by ~1%.
- **Outlook**: Expect similar Q1 growth in Q2, with margin improvements tapering in second half as service levels normalize.

**【CFO Financial Commentary】**
- **Cash Flow**: Generated $75M operating cash flow (pre-working capital), up significantly YoY. Capital expenditures were $30M, within $125M annual guidance.
- **Balance Sheet**: Net debt $1.1B (2x leverage ratio), with $800M liquidity from cash and credit facilities. Expanded credit line to $1.75B.
- **Acquisition Strategy**: Disciplined tuck-under activity, with pipeline strength despite competitive valuations.

**【Q&A Highlights】**
- **Macro Exposure**: ~20% of revenue exposed to residential/consumer spending and commercial development (e.g., Home Services, Roofing, Century Fire). Economic uncertainty causing delays, but demand drivers (home equity, aging infrastructure) remain strong.
- **Labor Market**: Improved labor stability with lower turnover and wage inflation, supporting margin improvements.
- **M&A Environment**: Active pipeline, with potential deals in second half of 2025. No indication of multiple compression.
- **Restoration Pipeline**: Backlog stable, with slow conversion of hurricane-related work. Q2 revenue expected similar to Q1.
- **Long-Term Vision**: Focus on current brands within repair/maintenance adjacency (e.g., painting, coastal codes), with Residential targeting 9-10% margin band.


FirstService Corporation (FSV) Q1 2025 Earnings Call Transcript

- **2024 Record Growth**: 20% revenue and 24% EBITDA growth, driven by Restorations and Roofing acquisitions.
- **Brands Division Strength**: Q4 EBITDA up 65%, Restoration organic growth 10% (excluding storms), Roofing Q1 2025 revenue +50%+.
- **2025 Outlook**: High-single-digit revenue growth, EBITDA margin expansion, $1.10 dividend.
- **Key Risks**: Slow restoration backlog conversion, tariff pass-through feasibility, Residential budget constraints.
- **Leverage Management**: 2.0x net debt/EBITDA, ample liquidity for tuck-unders and CapEx.

**【CEO Summary Section】**
- **2024 Year-End Highlights**: Revenue grew 20% YoY to $5.22 billion, EBITDA rose 24% to $513.7 million, exceeding long-term goals of 10% revenue and EBITDA growth. Restorations and Roofing Corp acquisitions drove 45% Q4 revenue growth in the Brands division.
- **Division Performance**: 
  - **FirstService Residential**: 5% organic growth for the year, Q4 revenue up 5% to $521 million. 2025 outlook: low-single-digit organic growth with Q1 as the trough.
  - **Restoration (Paul Davis & FirstOnSite)**: Q4 revenue up 40% YoY ($60M from hurricanes), full-year organic growth 10% (excluding storms). Q1 2025 expects mid-single-digit growth.
  - **Roofing Corp**: First full year with 50%+ Q1 2025 revenue growth from tuck-under acquisitions. 2025 focus on expanding footprint and commercial roofing.
  - **Home Services**: Revenue down YoY due to modest market improvement; cautious optimism for Q2 recovery.
- **Century Fire**: Q4 revenue up nominally vs. prior year, 2025 expects 10% organic growth across quarters.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: 
  - Revenues: $1.37B (27% YoY), EBITDA: $137.9M (33% YoY), EPS: $1.34 (21% YoY). Margins improved 50bps to 10.1%.
  - **Brands Division**: 45% revenue growth (Roofing Corp + organic Restorations), EBITDA up 65% to $100.7M, margin +140bps to 11.9%.
  - **Corporate Costs**: $9M Q4 impact from non-cash FX adjustments, full-year costs up 78% to $25M.
- **2025 Outlook**: 
  - High-single-digit revenue growth (mid-single-digit organic + tuck-unders). 
  - EBITDA margin expansion driven by Brands division (modest margin up) and Residential (flat to + slight). 
  - Capital deployment: $125M CapEx, $212M 2024 tuck-unders, 10% dividend increase to $1.10/share.
- **Leverage**: 2.0x net debt/EBITDA, $360M liquidity.

**【Q&A Key Takeaways】**
- **Residential Pressure**: Communities managing budget constraints via HOA fee hikes; 2025 organic growth expected to match 2024 levels (5%).
- **Restoration Backlog**: Q1 2025 has modest backlog growth from LA wildfires, but conversion from Q4 hurricanes will take over a year.
- **Tariffs Impact**: Minimal effect on service-based businesses; minor raw material costs in 3 brands (California Closets, Century Fire, Roofing) will be passed through.
- **Century Fire Growth**: 10% 2025 organic growth driven by new installations and service contracts.
- **Roofing Expansion**: 2025 focus on commercial roofing and tuck-unders, targeting 10%+ organic growth long-term.


Actual											0.3645	0.846	1.1867	1.0185	0.6515	1.2279	1.4637	1.2208	0.7497	1.1215	1.1465	1.2109	0.8563	1.4535	1.2713	1.1327	0.6783	1.3732	1.6683	1.3303	0.8873	1.7104	1.768	1.3618
Forecast											0.3182	0.3956	0.8843	0.8266	0.4539	1.0279	1.1722	1.0117	0.7135	1.1572	1.1537	1.1843	0.8023	1.3266	1.2582	1.1562	0.6706	1.2598	1.4404	1.367	0.814	1.468	1.7564	1.2952	0.8599
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+14.55%	+113.85%	+34.20%	+23.22%	+43.53%	+19.46%	+24.87%	+20.67%	+5.07%	-3.09%	-0.62%	+2.25%	+6.73%	+9.57%	+1.04%	-2.03%	+1.15%	+9.00%	+15.82%	-2.68%	+9.00%	+16.51%	+0.66%	+5.14%	0.00%

FSV

FSV fundamentals

FSV Q1 2026 Earnings Preview

Earnings Call

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FSV

FSV fundamentals

FSV Q1 2026 Earnings Preview

Earnings Call

FSV Earnings Call Summary for Q1/2026Upcoming11:00 AM on Apr 23, 2026

FSV Earnings Call Summary for Q4/202511:00 AM on Feb 4, 2026

FSV Earnings Call Summary for Q3/202511:00 AM on Oct 23, 2025

FSV Earnings Call Summary for Q2/202511:00 AM on Jul 24, 2025

FSV Earnings Call Summary for Q1/202511:00 AM on Apr 24, 2025

You can ask Aime