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July 29, 2014
07:44 EDTFSRVFirstService reports Q2 adjusted EPS 74c, consensus 61c
Reports Q2 revenue $660.7M, consensus $645.01M. Jay S. Hennick, founder and CEO of FirstService, stated, "Colliers International grew revenues by 22% with EBITDA up by more than 40% and margins up 170 basis points to 9.6%. FirstService Residential continued to deliver excellent top-line growth with multiple contract wins across the entire North American platform. FirstService Brands also had an outstanding quarter with EBITDA up 27% and margins up 250 basis points to almost 22%. Finally, cash flows almost tripled from the same quarter one year ago. With strong operating results and cash flow, ample financial capacity and multiple growth opportunities, FirstService is better positioned than ever to continue delivering outstanding results for the balance of 2014 and beyond."
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