Colliers International reports Q2 adjusted EPS 1.72, consensus $1.48

Reports Q2 revenue $1.35B, consensus $1.29B. “We exceeded expectations with our strong second quarter results, showcasing the exceptional performance of our Engineering division,” stated Jay Hennick, CEO. “Our long-term strategy to build a diversified professional services and investment management company with high-quality, recurring revenue streams is clearly paying off. All three of our growth engines – Real Estate Services, Engineering, and Investment Management – demonstrated solid momentum this quarter, driven by organic growth, new revenue pipelines, and strategic acquisitions. We anticipate this positive trend to continue throughout the year, prompting us to raise our annual outlook despite ongoing macroeconomic uncertainties Last week, we announced the rebranding of our Investment Management division as Harrison Street Asset Management, reflecting the strength and global recognition of the Harrison Street brand. We also expanded our leadership team, appointing Co-Founder Christopher Merrill as Global CEO, along with Zach Michaud and Stephen Gordon as Managing Partners & Global CFO and COO, respectively. These changes position us to further scale our platform, unlock new opportunities and position ourselves for further value creation. This week’s acquisition of a 60% stake in RoundShield Partners, a leading European credit platform with $5 billion in assets under management, further expands our credit, student housing and hospitality capabilities. In addition to RoundShield, we also completed four tuck-in acquisitions in Engineering and two in Real Estate Services.With a 30-year track record of disciplined growth, visionary leadership, and three strong, high value growth engines, Colliers is a different kind of company that is exceptionally well-positioned to seize new opportunities and deliver enduring value for our shareholders.”