Colliers International reports Q1 adjusted EPS 87c, consensus 83c

Reports Q1 revenue $1.14B, consensus $1.15B. “We’re pleased with our operating results for the quarter, which met expectations and keep us on track to achieve our full-year targets,” said Jay S. Hennick, Chairman & CEO of Colliers. “When we set our outlook for the year, we took a conservative stance given the macroeconomic and political uncertainty – and we’re glad we did. At Colliers, market volatility has never derailed our focus on creating value for shareholders. Time and again, our leadership team has navigated uncertainty with discipline and has seized opportunities that present themselves – and this time is no different. That said, we’re seeing strength across all our business segments and geographies, which we expect will continue, particularly through the back half of the year. Our recently established Engineering segment delivered strong internal growth in the quarter and combined with acquisitions, achieved meaningful gains over the prior year. With more than 9,000 professionals and annualized revenues of over $1.5 billion, Colliers now ranks among the top global players in this industry with additional opportunities for growth. We also advanced our growth strategy with the acquisition of Ethos Urban, adding best-in-class urban planning capabilities in Australia, and the pending acquisition of Triovest, which will further strengthen our leading position in Canada’s commercial real estate services market. After quarter-end, we also completed the acquisition of Terra Consulting, expanding our Engineering platform in the U.S.With three powerful growth engines, a world-class leadership team, and a 30-year track record of value creation through every market cycle, Colliers is well-positioned to continue delivering outstanding returns for shareholders,” he concluded.