FirstService Corporation (NASDAQ:FSV) Q1 2022 Earnings Conference Call April 27, 2022 11:00 AM ET | --- | |---------------------------------------| | | | Company Participants | | Scott Patterson - CEO | | Jeremy Rakusin - CFO | | Conference Call Participants | | George Doumet - Scotiabank | | Stephen MacLeod - BMO Capital Markets | | Faiza Alwy - Deutsche Bank | | Scott Fromson - CIBC | | Stephen Sheldon - William Blair | | Daryl Young - TD Securities | Operator Welcome to the First Quarter Investors' Confe ...

EXHIBIT 99.1 FirstService Reports Better Than Anticipated First Quarter Results Robust Top-Line Growth Across All Business Lines Operating highlights: | | | | Three months | | | | --- | --- | --- | --- | --- | --- | | | | | ended March 31 | | | | | 2022 | | | 2021 | | | Revenues (millions) | $ | 834.6 | | $ | 711.1 | | Adjusted EBITDA (millions) (note 1) | | 62.3 | | | 59.8 | | Adjusted EPS (note 2) | | 0.73 | | | 0.66 | | GAAP Operating Earnings (millions) | | 29.0 | | | 33.9 | | GAAP EPS | | 0.32 | | | 0. ...

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. ...

FirstService Corporation (NASDAQ:FSV) Q3 2020 Earnings Conference Call October 28, 2020 11:00 AM ET Company Participants Scott Patterson - President & Chief Executive Officer Jeremy Rakusin - Chief Financial Officer Conference Call Participants George Doumet - Scotiabank Stephen Sheldon - William Blair Stephen MacLeod - BMO Capital Markets Matt Logan - RBC Capital Markets Marc Riddick - Sidoti Frederic Bastien - Raymond James Operator Welcome to the Third Quarter Investors Conference Call. Today's call is b ...

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 ...