Canada's FirstService Q1 results beat on residential segment growth

FirstService

23/04/2026 12:38

Overview

Canada property services provider's Q1 revenue rose 5%, beating analyst expectations

Adjusted EPS for Q1 increased 3%, beating analyst expectations

Residential segment growth driven by new contracts; Brands segment margins compressed by competition

Outlook

FirstService says it is focused on driving market share gains and growth momentum for 2026

Company notes ongoing competitive pressures in roofing and macroeconomic uncertainty impacting margins

Result Drivers

RESIDENTIAL ORGANIC GROWTH - Residential revenue rose 4% on new property management contracts and expanded sited labour services

BRANDS SEGMENT PRESSURE - Brands segment margins declined due to competitive pressures in roofing and increased promotional activity amid macroeconomic uncertainty

LABOUR COST MANAGEMENT - Residential Adjusted EBITDA margin improved due to continuous labour cost management and efficiency gains

Company press release: ID:nGNX82H4nx

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.32 bln
$1.30 bln (5 Analysts)
Q1 Adjusted EPS
Beat
$0.95
$0.89 (6 Analysts)
Q1 EPS
$0.44


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "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 24 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)