FirstService Reports Second Quarter 2025 Results

Core Insights - FirstService Corporation reported strong financial results for the second quarter of 2025, with consolidated revenues of $1.42 billion, reflecting a 9% increase year-over-year [2][3] - Adjusted EBITDA for the quarter was $157.1 million, a 19% increase compared to the same period last year, while Adjusted EPS grew by 26% to $1.71 [2][3] - The company’s GAAP Operating Earnings reached $97.3 million, up from $83.9 million in the prior year, and GAAP diluted EPS was $1.01, an increase from $0.78 [2][3] Financial Performance - For the six months ended June 30, 2025, consolidated revenues totaled $2.67 billion, a 9% increase from the same period in 2024 [3] - Adjusted EBITDA for the first half of 2025 was $260.4 million, up 21%, and Adjusted EPS increased by 30% to $2.63 [3] - GAAP Operating Earnings for the six months were $136.5 million, compared to $122.0 million in the prior year, with GAAP diluted EPS at $1.07, up from $0.92 [3] Segment Performance - FirstService Residential reported revenues of $593.0 million for the second quarter, a 6% increase year-over-year, with an Adjusted EBITDA of $65.5 million, up 11% [7] - FirstService Brands saw revenues grow to $822.7 million, an 11% increase, with Adjusted EBITDA rising 23% to $95.2 million [8] - The increase in operating margins for both segments was attributed to ongoing operational efficiencies and improvements [7][8] Corporate Overview - FirstService Corporation is a leader in the essential outsourced property services sector in North America, operating through two main platforms: FirstService Residential and FirstService Brands [5] - The company generates over $5.4 billion in annual revenues and employs approximately 30,000 people across North America [6] - FirstService is included in the S&P/TSX 60 index and trades on both NASDAQ and the Toronto Stock Exchange under the symbol "FSV" [6]