FirstService Corporation ( (FSV) ) has released its Q4 earnings. Here is a breakdown of the information FirstService Corporation presented to its investors.
FirstService Corporation is a leading North American company in the property services sector, providing management for residential communities and essential property services through branded operations and franchise systems.
The company reported strong financial results for the fourth quarter and full year of 2024, showcasing notable revenue growth and increased profitability. Total revenues for the year reached $5.22 billion, a significant 20% increase from the previous year.
Key financial highlights include a 27% increase in fourth-quarter revenues to $1.37 billion, with Adjusted EBITDA rising by 33% to $137.9 million. The company’s Adjusted EPS also saw an uplift, reaching $1.34, a 21% increase from the previous year’s quarter. For the full year, Adjusted EBITDA was up 24% to $513.7 million, and Adjusted EPS was $5.00, a 7% increase from 2023.
The company attributes its success to organic growth and strategic acquisitions. FirstService Residential reported a 7% increase in annual revenues, while FirstService Brands saw a 32% rise, driven by acquisitions and strong organic performance. The acquisition of Roofing Corp of America notably contributed to the growth in FirstService Brands.
Looking ahead, FirstService’s management remains optimistic about sustaining growth momentum into 2025, supported by strong operational execution and strategic initiatives.