Canada's Colliers misses Q3 revenue estimates, cuts outlook

Colliers International

Yesterday 12:26

Overview
Canada's real estate services firm's Q3 revenue rose 12% yr/yr but missed analyst expectations
Adjusted EPS for Q3 increased 20% and beat analyst expectations
Company cut 2026 outlook to low teens growth due to geopolitical and rate uncertainty

Outlook
Colliers revises 2026 outlook to low teens growth for revenue, adjusted EBITDA and adjusted EPS vs mid teens growth earlier
Company cites geopolitical uncertainty and interest rate volatility as factors in revised outlook
2026 outlook excludes impact of any further acquisitions

Result Drivers
ENGINEERING SEGMENT - Engineering revenues rose 33% yr/yr, driven by recent acquisitions and solid internal growth
CAPITAL MARKETS - Capital Markets revenues increased 9%, led by Americas and EMEA, though transactions slowed late in the qtr as interest rate volatility increased
INVESTMENT MANAGEMENT - Investment Management revenues rose 6% yr/yr, supported by internal revenue growth, but Adjusted EBITDA declined due to continued investments in people, new capabilities and integration

Company press release: ID:nGNX3JqM0h

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$1.64 bln
$1.68 bln (10 Analysts)
Q3 Adjusted EPS
Beat
$1.97
$1.95 (10 Analysts)
Q3 EPS
 
$0.14
 
Q3 Adjusted EBITDA
 
$218.80 mln
 
Q3 Operating Earnings
 
$100.80 mln
 

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 12 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)