Canada's ISC Q4 revenue rises 5% on strong performance in Saskatchewan Land Registry

Information Services

20/03/2026 02:17

Overview

The Canadian registry services firm's Q4 revenue grew 5% but missed analyst expectations

Q4 adjusted EBITDA beat analyst estimates, driven by Registry Operations and Services

Net income declined due to higher share-based compensation expense

Outlook

ISC sees 2026 revenue between C$273 mln and C$283 mln

Company expects 2026 adjusted EBITDA of C$100 mln to C$107 mln

ISC anticipates robust free cash flow and aims to maintain net leverage target of 2.0x–2.5x

Result Drivers

LAND REGISTRY ACTIVITY - Co said revenue growth was driven by strong performance in the Saskatchewan Land Registry, citing higher average real estate values, increased transaction volumes and record high-value property registrations

SERVICES MARGIN MIX - Higher-margin Recovery Solutions and increased volumes in KYC and Due Diligence offerings supported Services segment growth

SHARE-BASED COMPENSATION - Net income declined due to increased share-based compensation expense from a higher share price

Company press release: ID:nGNX8qBYB2

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
C$65.52 mln
C$67.13 mln (3 Analysts)
Q4 EPS
C$0.26
Q4 Adjusted Net Income
Beat
C$20.05 mln
C$7.35 mln (2 Analysts)
Q4 Net Income
C$4.87 mln
Q4 Adjusted EBITDA
Beat
C$27.05 mln
C$23.85 mln (4 Analysts)
Q4 Basic EPS
C$0.26


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "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"

Wall Street's median 12-month price target for Information Services Corp is C$43.75, about 7.8% below its March 19 closing price of C$47.46

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 19 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.)