Colliers International Group Inc. (NASDAQ:CIGI) Q3 2024 Earnings Conference Call November 5, 2024 11:00 AM ET Company Participants Jay Hennick - Global Chairman and CEO Christian Mayer - CFO Chris McLernon - CEO, Real Estate Services Conference Call Participants Stephen Sheldon - William Blair Jimmy Shan - RBC Capital Markets Himanshu Gupta - Scotia Capital Daryl Young - Stifel Frederic Bastien - Raymond James Operator Welcome to the Colliers International Third Quarter Investors Conference Call. Today's ca ...

Colliers International (CIGI) came out with quarterly earnings of $1.32 per share, missing the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.59%. A quarter ago, it was expected that this commercial real estate services provider would post earnings of $1.37 per share when it actually produced earnings of $1.36, delivering a surprise of -0.73%.O ...

Solid growth across all service lines and segments Re-aligned operating segments to better reflect value and growth Third quarter and year to date operating highlights:     Three months ended   Nine months ended     September 30   September 30 (in millions of US$, except EPS)   2024     2023     2024     2023                             Revenues $ 1,179.1   $ 1,056.0   $ 3,320.4   $ 3,100.0   Adjusted EBITDA (note 1)   154.6     144.9     419.0     39 ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Colliers International (CIGI) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on November 5, 2024, might help the stock move higher if these key numbers are ...

Colliers International (CIGI) shares rallied 4.8% in the last trading session to close at $154.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.1% loss over the past four weeks. The increased investor optimism in the stock can be attributed to the positive sentiments within operations real estate amid favorable industry fundamentals. This commercial real estate services provider is expected to post quart ...

TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (TSX & NASDAQ: CIGI) ("Colliers" or the "Company") today announced that results for the third quarter ended September 30, 2024, will be issued by press release on November 5, 2024, at approximately 7:00am ET. A conference call to review these results will take place at 11:00am ET on November 5, 2024 and will be hosted by Jay S. Hennick, Global Chairman & CEO, Chris McLernon, CEO, Real Estate Services and Christian Mayer, CFO. The t ...

TORONTO and OTTAWA, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that its Canadian engineering platform, Englobe Corporation ("Englobe"), has acquired Goodkey, Weedmark & Associates Limited ("GWAL"), a leading building engineering consulting firm in Ontario. The addition will strengthen Englobe's scale and service capabilities in Canada's largest market. GWAL's leadership team will become sharehold ...

Colliers International (CIGI) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. I ...

TORONTO AND PERTH, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that Colliers Engineering & Design Australia ("Colliers Engineering") has entered into a definitive agreement to acquire Pritchard Francis Consulting Pty Limited ("Pritchard Francis"), one of Western Australia's leading multidiscipline engineering consulting firms. Pritchard Francis' senior leadership team will continue to lead the bu ...

Financial Data and Key Metrics Changes - Colliers reported second quarter revenues of $1.1 billion, up 6% year-over-year, with internal growth of 5% overall [11] - Adjusted EBITDA for the second quarter was $156 million, also up 6% from the prior year, with a slight increase in margin to 13.7% [11] - Financial leverage ratio was 2 times as of June 30, expected to rise to 2.5 times in Q3 due to the Englobe acquisition, then decline to approximately 2 times by year-end [13] Business Line Data and Key Metrics Changes - Leasing revenues increased by 13%, driven by strong activity in office and industrial asset classes, with office leasing up 18% globally and 32% in the Americas [8][9] - Capital Markets experienced modest growth for the first time in 24 months, with significant improvement in loan origination activity, particularly in the multifamily asset class [5][9] - Outsourcing and advisory services revenues grew by 5%, with solid pipelines and revenue visibility through the end of the year [9] Market Data and Key Metrics Changes - Strong leasing activity was noted in various regions, including Germany, France, the Netherlands, New Zealand, China, Hong Kong, and India [8] - Industrial leasing was up 11% globally, indicating strength in that sector as well [25] - The capital markets showed a gradual increase in activity, with expectations for normalization in 2025 [20][26] Company Strategy and Development Direction - The acquisition of Englobe positions Colliers as a top player in Canada and aligns with the strategy to increase high-value recurring revenue streams, which now represent 72% of earnings [6][7] - The company plans to realign segment reporting to focus on three growth engines: real estate services, engineering, and investment management [7] - Future growth is expected from public and private sector infrastructure tailwinds and differentiated investment strategies [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in capital markets activity in the latter half of the year, although risks remain for delays [13] - The company maintains its financial outlook for 2024, with expectations of mid- to high single-digit revenue growth in recurring service lines [13] - Management highlighted the strong engagement of employees and the unique culture that drives the company's success [10] Other Important Information - Colliers completed the acquisition of Englobe, enhancing its engineering and project management capabilities [6] - The company has a strong commitment to shareholder value, with a track record of delivering 20% annualized returns [7] Q&A Session Summary Question: Will pro forma historicals be provided for the new reporting structure? - Yes, pro forma historicals will be provided with the Q3 reporting [16] Question: What is the outlook for investment management fundraising? - Fundraising is expected to be weighted towards Q4, with strong pipelines but slightly below initial forecasts for the year [17][18] Question: What is the visibility into capital markets activity for the rest of the year? - Sentiment is shifting positively, with increased activity expected, but normalization may not occur until 2025 [19][20] Question: What is driving the slowdown in Outsourcing & Advisory growth? - The valuation business has been flat due to low capital markets transactions, but overall growth is still expected to be mid to high single-digit [22] Question: How is the Englobe acquisition expected to impact growth? - The acquisition is expected to strengthen Colliers' position in Canada and provide growth opportunities in the U.S. and Europe [43][45]