TORONTO, Feb. 20, 2026 (GLOBE NEWSWIRE) -- Colliers (NASDAQ and TSX: CIGI), a global leader in professional services and investment management, announced today that it has amended its revolving credit facility. The amended agreement extends the maturity to February 2031, providing significant long-term financial flexibility. The amended agreement maintains the total credit facility at US$2.25 billion and now includes a US$250 million accordion feature. The updated terms provide enhanced flexibility to suppo ...

Group 1 - Colliers International Group Inc. (CIGI) has been upgraded to Strong Buy by Raymond James, with a new price target of $200, up from $195 [2] - The upgrade is attributed to Colliers' agreement to acquire Ayesa Engineering for approximately $700 million, expected to close in Q2 2026, which is projected to be 5% accretive to adjusted EPS [2][3] - Ayesa Engineering, based in Seville, Spain, generated approximately $370 million in gross revenues in 2025 and employs over 3,200 professionals across 21 countries [3] Group 2 - Following the acquisition, Colliers Engineering will operate in 23 countries with nearly 14,000 professionals, enhancing its capabilities in various sectors including Property & Buildings, Infrastructure & Transportation, Water, and Environmental markets [3] - Colliers' U.S. Engineering division has also acquired Ramos Consulting Services, a firm specializing in program management and engineering services for public transit projects [4] - Colliers provides commercial real estate services to clients across multiple regions including North America, Europe, Australia, and Asia [4]

Achieved a milestone shift toward recurring revenue, with over 70% of earnings now derived from resilient professional services businesses. Attributed Capital Markets growth to a rebound in the US market, driven by strategic recruiting and increased multi-market connectivity despite a slow broader recovery. Positioned the Ayesa acquisition as a rare opportunity to scale the engineering segment into a top 30 global firm with new footprints in Europe, Latin America, and the Middle East. Framed AI as a ...

Core Insights - Colliers International Group reported a strong performance in 2025, with significant growth across its diversified platform and a shift towards recurring professional services, which now account for over 70% of earnings [3][5]. Financial Performance - Fourth-quarter revenue reached $1.6 billion, reflecting a 5% year-over-year increase, with adjusted EBITDA at $245 million, up 6% [2][5]. - Internal revenue growth for the full year was 5%, while the fourth-quarter internal growth was described as "essentially flat" due to challenging comparisons from the previous year [2][5]. Segment Performance - The Engineering segment saw an 8% net revenue growth in Q4, primarily driven by acquisitions, although there was a temporary slowdown in certain project management operations [5][6]. - Investment Management net revenue increased by 6%, with a net margin of 42.5%, although margins are expected to face pressure during the integration of operations [6][12]. Acquisition Strategy - Colliers announced the acquisition of Ayesa Engineering for approximately $700 million, which is expected to enhance growth avenues and position Colliers among the top 30 global engineering firms [5][7][8]. - The acquisition will be financed through the company's revolving credit facility, with a borrowing rate of about 4% [8]. Growth Outlook - For 2026, Colliers anticipates "mid-teens" growth driven by internal gains, acquisitions, and a recovery in Capital Markets, with total Engineering growth projected to exceed 25% [4][15]. - The company expects to raise $6–9 billion in Investment Management for 2026, supported by several funds in the market [12][14]. Market Dynamics - Management highlighted that the U.S. represents about 50% of Colliers' Capital Markets business, with expectations for high teens growth in Capital Markets and mid- to high-single digits in Leasing [15][17]. - The engineering business is characterized by a strong demand for design work and project management, with a noted shortage of qualified engineers supporting pricing [10][11]. Technology and Capital Allocation - Colliers views AI as a productivity and growth enabler, aiming to enhance efficiency and insights without replacing essential services [18]. - The company is prioritizing capital for growth opportunities, including the Ayesa acquisition, rather than stock buybacks [19].

Financial Data and Key Metrics Changes - For Q4 2025, the company generated revenues of $1.6 billion, up 5% year-over-year, with adjusted EBITDA of $245 million, reflecting a 6% increase [10][11] - Full-year internal revenue growth was solid at 5%, with commercial real estate segment net revenue up 7% [10][11] - Investment management ended the year with over $108 billion in assets under management, flat relative to September 30 [6][14] Business Line Data and Key Metrics Changes - Capital Markets revenues increased by 13%, driven by strong activity in the U.S., while leasing revenues rose by 3% [11][12] - Outsourcing solutions grew by 8%, with valuation practices contributing significantly [11] - Engineering segment net revenue was up 8%, supported by recent acquisitions, with a strong revenue backlog providing visibility for future growth [12][16] Market Data and Key Metrics Changes - The U.S. market showed strong performance, particularly in Capital Markets and leasing activities, while EMEA and Asia Pacific experienced modest growth [11][35] - The company expects low teens top-line growth in commercial real estate for 2026, with Capital Markets projected to grow in the high teens [16][63] Company Strategy and Development Direction - The company is focused on expanding its diversified platform and pursuing further acquisitions, with the recent acquisition of Ayesa Engineering expected to enhance growth opportunities [4][5] - AI is viewed as a productivity and growth enabler, helping to automate routine tasks and improve efficiency across all segments [8][9] - The company aims to maintain a strong partnership model, emphasizing inside ownership to align leaders with clients and shareholders [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026 with strong momentum and a healthy pipeline, expecting solid internal growth and contributions from recent acquisitions [7][16] - The company anticipates mid-teens growth across key operating metrics, driven by favorable trends in infrastructure and urbanization [16][63] Other Important Information - The company plans to maintain leverage at around 2x, with the recent acquisition expected to add approximately 0.7 turns of leverage on a pro forma basis [15][70] - Fundraising targets for 2026 are set between $6 billion and $9 billion, with several funds currently in the market [13][66] Q&A Session Summary Question: Organic growth in engineering - Management noted strong demand for services, with opportunities to increase pricing and a growing workforce to meet demand [19][20] Question: Capital allocation and share buybacks - Management indicated a preference for careful capital management, with no immediate plans for stock buybacks due to ongoing acquisitions [28] Question: Macro perspective on Capital Markets - Management does not expect rate cuts to impact their outlook, citing pent-up demand for transactions as a key driver for growth [35][36] Question: AI's impact on business - Management sees AI as a margin enhancer rather than a disruptor, emphasizing its role in improving efficiency and decision-making [72] Question: Ayesa acquisition and growth expectations - Management expects high single-digit organic growth for Ayesa, leveraging its expertise in high-demand markets [80][81] Question: Fund performance and fundraising - Fund performance has been strong, with the flagship fund exceeding benchmarks, aiding in fundraising efforts [67][68]

Financial Data and Key Metrics Changes - For Q4 2025, the company generated revenues of $1.6 billion, up 5% year-over-year, with overall internal growth for the quarter being essentially flat due to strong prior comparisons [10] - Adjusted EBITDA for the quarter was $245 million, reflecting a 6% increase over the previous year, in line with revenue growth [10] - The company's leverage declined to 2x as of December 31, benefiting from strong seasonal cash flows [15] Business Line Data and Key Metrics Changes - The commercial real estate segment net revenue increased by 7% in Q4, with Capital Markets revenues rising by 13%, primarily driven by strong activity in the U.S. [11] - Leasing revenues grew by 3%, led by the U.S. in office and industrial asset classes [11] - The engineering segment net revenue was up 8%, supported by recent acquisitions, while investment management net revenues increased by 6% [12] Market Data and Key Metrics Changes - The U.S. market continued to show strength, particularly in Capital Markets, which is expected to maintain high teens growth in 2026 [64] - EMEA and Asia Pacific markets experienced modest growth, with expectations for improvement in 2026 [36] Company Strategy and Development Direction - The company is focused on expanding its diversified platform and has recently agreed to acquire Ayesa Engineering, which will enhance growth avenues and strengthen its global presence [5] - The strategy emphasizes leveraging AI as a productivity and growth enabler, improving efficiency and margins while allowing professionals to focus on higher-value advisory services [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026 with strong momentum and a healthy pipeline, expecting solid internal growth and contributions from recent acquisitions [7] - The company anticipates mid-teens growth across its key operating metrics for 2026, driven by a recovery in Capital Markets and strong demand in engineering and investment management [16] Other Important Information - The company raised $2.1 billion in new capital commitments during Q4 and $5.3 billion for the full year, with a fundraising target of $6 billion to $9 billion for 2026 [13][66] - The integration costs in the investment management segment are expected to continue impacting margins through the first half of 2026 [12][32] Q&A Session Summary Question: Organic growth in engineering - Management noted strong demand for services and opportunities to increase pricing, with hiring ongoing to meet demand [19][20] Question: Capital allocation and share buybacks - Management indicated a preference for careful capital management and highlighted the focus on acquisitions rather than share buybacks at this time [29] Question: Macro perspective on Capital Markets - Management does not expect rate cuts to influence their outlook, citing pent-up demand for transactions as a key driver for growth [36] Question: AI's impact on business - Management views AI as a margin enhancer rather than a disruptor, emphasizing its role in improving efficiency and enabling professionals to focus on complex transactions [71][72] Question: Ayesa acquisition and future growth - Management highlighted the strategic importance of the Ayesa acquisition for expanding into new markets and leveraging existing capabilities [56][87]

Financial Data and Key Metrics Changes - For Q4 2025, the company generated revenues of $1.6 billion, up 5% year-over-year, with overall internal growth for the quarter being essentially flat due to strong prior comparisons [8][10] - Adjusted EBITDA for the quarter was $245 million, reflecting a 6% increase over the previous year, in line with revenue growth [8] - The company ended the year with over $108 billion in assets under management, flat relative to September 30, with new capital raised offset by asset sales [11] Business Line Data and Key Metrics Changes - The commercial real estate segment net revenue increased by 7% in Q4, with Capital Markets revenues up 13%, driven by strong activity in the U.S. [9][10] - Leasing revenues rose by 3%, led by the U.S. in office and industrial asset classes [9] - The engineering segment net revenue grew by 8%, supported by recent acquisitions, while the investment management segment net revenues increased by 6% [10] Market Data and Key Metrics Changes - Capital Markets showed a rebound, particularly in the U.S., with modest growth in EMEA and Asia Pacific against strong prior year comparisons [9] - Demand for outsourcing solutions, including property management and valuation, grew significantly as clients sought trusted partners [4] Company Strategy and Development Direction - The company is focused on expanding its diversified platform and enhancing its capabilities through acquisitions, such as the recent agreement to acquire Ayesa Engineering [4][5] - The strategy emphasizes organic growth, ongoing contributions from acquisitions, and leveraging AI to improve productivity and efficiency [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about entering 2026 with strong momentum and a healthy pipeline, expecting solid internal growth and contributions from recent acquisitions [5][12] - The company anticipates low teens top-line growth in commercial real estate, with mid-single-digit growth in engineering and low teens growth in investment management for 2026 [13][14] Other Important Information - The company views AI as a productivity and growth enabler, enhancing efficiency and margins while allowing professionals to focus on higher-value advisory services [6][7] - The leverage ratio declined to 2x as of December 31, with the Ayesa acquisition expected to add approximately 0.7 turns of leverage on a pro forma basis [12] Q&A Session Summary Question: Organic growth trends in engineering - Management noted strong demand for services, opportunities to increase pricing, and ongoing hiring to meet demand, with strong backlogs driving utilization [15][16] Question: Capital allocation thoughts on buybacks - Management expressed a desire to buy back stock but emphasized the importance of focusing on acquisitions like Ayesa [25][26] Question: Macro perspective on Capital Markets pipeline - Management indicated that they are not counting on rate cuts for their outlook, citing pent-up demand for transactions as a key driver [31][32] Question: AI's impact on business - Management clarified that AI is seen as a margin enhancer rather than a disruptor, improving efficiency and allowing professionals to focus on complex transactions [40][41][67] Question: Ayesa acquisition growth expectations - Management expects high single-digit organic growth for Ayesa, driven by high-value services in public sector markets [75][76] Question: Fund performance in Investment Management - Management reported strong fund performance, ranking in the top quartile across various categories, which supports fundraising efforts [63][64]

Fourth Quarter 2025 Results February 13, 2026 REAL ESTATE SERVICES | ENGINEERING | INVESTMENT MANAGEMENT Colliers 2 Highlights (US $ millions, except per share amounts) | Three months ended | 2025 | 2024 | %Change | | | --- | --- | --- | --- | --- | | December 31 | | | USD | LC(1) | | Revenues | 1,606.5 | 1,501.6 | 7% | 5% | | Net Revenues | 1,428.1 | 1,312.8 | 9% | 7% | | Adjusted EBITDA | 245.1 | 225.3 | 9% | 6% | | Adjusted EBITDA Margin | 15.3% | 15.0% | | | | Net Margin | 17.2% | 17.2% | | | | Adjusted ...

分组1 - Colliers International reported quarterly earnings of $2.34 per share, missing the Zacks Consensus Estimate of $2.39 per share, but showing an increase from $2.26 per share a year ago, resulting in an earnings surprise of -2.09% [1] - The company posted revenues of $1.61 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.60% and increasing from $1.5 billion year-over-year [2] - Over the last four quarters, Colliers International has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] 分组2 - Colliers International shares have declined approximately 19.6% since the beginning of the year, contrasting with the S&P 500's decline of only 0.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.98 on revenues of $1.26 billion, and for the current fiscal year, it is $7.57 on revenues of $6.07 billion [7] - The Zacks Industry Rank indicates that the Real Estate - Operations sector is currently in the bottom 36% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

Colliers Reports Fourth Quarter and Full Year 2025 Results Compounding growth with strong momentum entering 2026 EXHIBIT 99.1 Fourth quarter and full year operating highlights: | | Three months ended | | | | | Twelve months ended | | | --- | --- | --- | --- | --- | --- | --- | --- | | | December 31 | | | | | December 31 | | | (in millions of US$, except EPS) | 2025 | | | 2024 | 2025 | | 2024 | | Revenues | | $ 1,606.5 | $ | 1,501.6 $ | 5,558.5 | $ | 4,822.0 | | Net Revenues (note 1) | | 1,428.1 | | 1,312.8 ...