Financial Data and Key Metrics Changes - Third quarter revenues reached $1.2 billion, an increase of 11% compared to the prior year period [19] - Adjusted EBITDA for the third quarter was $155 million, up 6% over the prior year [20] - The margin for the quarter slightly declined to 13.1% due to higher captive insurance reserves and margin dilutive effects from performance fees [21] Business Line Data and Key Metrics Changes - Engineering segment grew by 21% driven by acquisitions [5] - Real estate services revenues and capital markets rose 17%, with leasing achieving 6% growth [5][11] - Investment management saw a modest increase in recurring management fee revenue, with assets under management growing by $2.4 billion to nearly $99 billion [6][24] Market Data and Key Metrics Changes - Capital markets revenues rose 17%, with significant growth in office (up 77%), retail (up 53%), and industrial (up 90%) asset classes [12] - Debt origination showed solid improvement, with agency and non-agency businesses performing well [13] - Industrial leasing in the U.S. increased by 8%, indicating a positive trend despite global hesitations [34] Company Strategy and Development Direction - The company has transformed into a differentiated global professional services and investment management firm, focusing on recurring revenue streams [8] - A robust M&A pipeline is in place to continue growth and strengthen operations [7] - The company anticipates stronger fundraising in 2025, driven by improving capital markets and enhanced investment strategies [10][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the rebound in capital markets and solid momentum in leasing, expecting continued growth [28] - The company is well-positioned for future growth, with expectations of mid to high single-digit growth rates [9][29] - Management noted that the investment management results are expected to improve significantly in 2025 [45] Other Important Information - Colliers was recognized on the list of the world's best companies and named to Forbes' world's best employers ranking for the second consecutive year [17] - The company completed the acquisition of Englobe, creating a substantial new growth platform in Canada [6][63] Q&A Session Summary Question: Can you walk through the moving pieces for the profit guide reduction? - The adjustment to the earnings outlook is entirely due to investment management fundraising, impacting revenues and EBITDA significantly [31] Question: What is the outlook for leasing growth in the fourth quarter and next year? - Leasing showed good momentum, with larger deals coming to market and a positive trend in office leasing [32][34] Question: How is the fundraising pipeline for 2025 looking? - The company expects significantly more fundraising in 2025 due to new products and a recovering market [45][47] Question: What is the expected organic growth in the engineering division? - Organic growth in the engineering practice should be in the high single-digit range moving forward [43] Question: How is the integration of sales and marketing for fundraising progressing? - There is a stronger desire to integrate and share opportunities across platforms, with plans for reorganizing distribution capabilities [56]

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]