Did Firstservice beat or miss consensus estimates last quarter?

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

What is Firstservice's gross profit margin?

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

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

What does Firstservice do and what are its main business segments?

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

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

- **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.

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