FirstService Corporation (NASDAQ:FSV) Q4 2021 Earnings Conference Call February 15, 2022 11:00 AM ET Company Participants Scott Patterson - Chief Executive Officer Jeremy Rakusin - Chief Financial Officer Conference Call Participants George Doumet - Scotiabank Stephen MacLeod - BMO Capital Stephen Sheldon - William Blair Scott Fromson - CIBC Daryl Young - TD Securities Operator Welcome to the Fourth Quarter and Year End Investors Conference Call. TodayÂ's call is being recorded. Legal counsel requires us to ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2021 were $849 million, up 14% year-over-year, with organic revenue growth at 8% [6][22] - EBITDA for the quarter was $94 million, reflecting a 6% increase compared to 2020, with a margin of 11.1% down from 12% in the prior year [7][22] - Earnings per share were $1.50, compared to $1.19 last year, marking a 26% increase [7][22] - Year-to-date revenues reached $2.39 billion, up 20% from $2 billion in the prior year, with 13% organic growth [24] Business Line Data and Key Metrics Changes - FirstService Residential revenues increased by 13% with organic growth at 8%, driven by the reopening of seasonal amenities [8][25] - FirstService Brands revenues rose by 16%, with 9% organic growth, although capacity issues due to labor shortages and supply chain challenges were noted [11][28] - Restoration brands, including FirstOnSite and Paul Davis, achieved over 10% growth, with mid-single digit organic growth [14][29] Market Data and Key Metrics Changes - The company reported strong organic growth across all platforms, particularly in FirstService Residential and Century Fire [6][19] - The Home Improvement market remains robust, with record levels of leads and bookings despite challenges [11][12] Company Strategy and Development Direction - The company aims to enhance its market presence in a $60 billion market, focusing on major markets across North America [44] - There is a strategic emphasis on building day-to-day business and reducing dependence on weather-related events [42] - The company plans to continue tuck-under acquisitions while focusing on organic growth [70][71] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued organic growth, expecting high single-digit revenue growth in Q4 [38] - Labor inflation and availability are significant challenges, impacting all business lines, particularly in Home Improvement [59][66] - The company anticipates a return to low to mid-single digit organic growth for FirstService Residential in 2022, while Home Improvement is expected to remain strong [54] Other Important Information - The company incurred a $2 million increase in corporate costs year-over-year, reflecting a normalization of expenses [30] - A gain of $12.5 million was realized from the sale of a non-core pest control business, contributing $0.21 to adjusted earnings per share [32] - The company invested $46 million in tuck-under acquisitions during the quarter, with a strong deal pipeline [33] Q&A Session Summary Question: Can you provide insight into the low double-digit organic growth in restoration excluding storm activity? - Management indicated that growth is driven by executing the growth plan and leveraging the branch network, with a focus on high-end customers [42] Question: What is the strategy for M&A in the restoration segment? - The company aims to strengthen its presence in major markets, as it holds a modest market share in a large market [44] Question: How does the company plan to adjust pricing and wages in the residential segment? - Most of the organic growth is volume-driven, with expectations to recoup wage inflation through price increases during contract renewals [45][46] Question: What trends are observed in average ticket size in Home Improvement brands? - The company is seeing increases in average job size, with consumers booking larger renovation projects [48][49] Question: What is the outlook for the remaining 10% of residential facilities that are not yet open? - Many of these facilities are seasonal and are expected to fully resume operations in 2022 [51][52] Question: How does management view labor inflation and its impact on growth? - Labor inflation has intensified, impacting all business lines, with management focusing on retaining trusted employees [66] Question: What is the expected growth rate for the restoration business through 2025? - The company targets mid-single digit growth over the long term, with a focus on organic growth and strategic acquisitions [70]

FirstService Corporation (NASDAQ:FSV) Q1 2021 Earnings Conference Call April 27, 2021 4:00 PM ET Company Participants Scott Patterson – Chief Executive Officer Jeremy Rakusin – Chief Financial Officer Conference Call Participants George Doumet – Scotiabank Stephen MacLeod – BMO Capital Markets Stephen Sheldon – William Blair Matt Logan – RBC Capital Markets Scott Fromson – CIBC Frederic Bastien – Raymond James Operator Welcome to the First Quarter Investors Conference Call. TodayÂ's call is being recorded. ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2020 were $742 million, up 10% year-over-year, with organic growth of 7% and acquisitions contributing the balance [5][20] - EBITDA increased by 15% year-over-year, reflecting a 50 basis points margin improvement, with earnings per share at $1.19, up 29% compared to the prior year [6][20] Business Line Data and Key Metrics Changes - FirstService Residential reported flat revenues of $374.8 million year-over-year, with a 5% increase in EBITDA to $41.8 million and a margin improvement of 60 basis points to 11.2% [7][23] - FirstService Brands saw revenues increase by 24% to $367.2 million, with EBITDA rising 19% to $48.7 million, although margins decreased slightly from 13.7% to 13.3% [11][25] Market Data and Key Metrics Changes - The commercial restoration platform Global experienced significant growth, with revenues up over 70% year-over-year, including 40% organic growth, driven by weather events [13][14] - Canadian operations showed strong year-over-year organic growth despite a market estimated to be down by over 20% due to COVID-19 [16] Company Strategy and Development Direction - The company is focused on expanding its geographic footprint, adding new national accounts, and increasing share of existing accounts, particularly in the restoration business [15][17] - The management emphasized the importance of customer experience and the strong culture within the company, which has contributed to organic growth during the pandemic [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing impacts from the pandemic but expressed confidence in the company's ability to drive growth through diversification and resilience [4][10] - The outlook for Q4 is expected to resemble Q3, with a strong backlog and continued work from recent storm-related activities [34] Other Important Information - The company reported a strong cash flow from operations of $67.5 million, up 28% year-over-year, and a net debt of $446 million, resulting in a leverage ratio of 1.6 times [28][31] - Capital expenditures for the quarter were $9 million, with a full-year target of $45 million, reflecting cost containment measures [29] Q&A Session Summary Question: Year-over-year growth in restoration business - The restoration business was up 70% year-over-year, with 40% organic growth, driven by significant weather events [39] Question: Impact of safety protocols on utilization rates - Safety protocols have reduced capacity at many facilities, impacting service levels, and it is expected that many amenities will remain closed into 2021 [42] Question: Organic growth without amenity openings - If amenities were fully operational, the company would expect to return to the normal organic growth range of 3% to 5% [46] Question: Size of the large loss portfolio - Management differentiated between large loss and storm activity, indicating that large losses are expected to be recurring but did not disclose specific figures [40] Question: Revenue impact from storm activity - The storm activity in Q3 contributed approximately $45 million in revenue, with margins resembling the overall business performance [53][60] Question: Future organic growth expectations - The company expects mid-single digit organic growth moving forward, particularly with the upcoming rebranding in early 2021 [65][66] Question: M&A opportunities in other verticals - The company is actively pursuing opportunities across all platforms, with a focus on restoration but not looking to enter new verticals at this time [87]

FirstService Corporation (NASDAQ:FSV) Q2 2020 Earnings Conference Call July 23, 2020 11:00 AM ET Company Participants Scott Patterson - President, CEO & Non-Independent Director Jeremy Rakusin - CFO Conference Call Participants George Doumet - Scotiabank Frederic Bastien - Raymond James Stephen MacLeod - BMO Capital Markets Stephen Sheldon - William Blair Stephanie Price - CIBC Daryl Young - TD Securities Marc Riddick - Sidoti Matt Logan - RBC Operator Welcome to the Second Quarter Investors Conference Call ...

FirstService Corporation Investor Presentation October 2019 FirstService Creating value one step at a time Forward Looking Statements Certain statements included herein constitute "forward‐looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially differe ...