08:15 AM EDT, 07/25/2024 (MT Newswires) -- FirstService Corporation ( FSV ) Thursday reported second quarter adjusted earnings that beat forecast on strong revenue growth, and said it was "optimistic" about hitting its top and bottom line targets over the second half of the year.

Adjusted EPS was US$1.36, versus US$1.46 in the prior year quarter. This beat a forecast of $1.30 as per Capital IQ.

Consolidated revenues for the second quarter were US$1.30 billion, a 16% increase relative to the same quarter in the prior year, and beating a forecast of $1,283.77 million at Capital IQ.

Adjusted EBITDA increased 12% to US$132.5 million from $118.4 million a year earlier, and beating a Capital IQ forecast of $126.26 million.

Among other highlights, it reported operating earnings of US$83.9 million, up from US$82.3 million in the prior year period. Diluted earnings per share was US$0.78 in the quarter, compared to US$1.01 for the same quarter a year ago.

"We are pleased with our second quarter financial results which were driven by strong revenue growth," said Scott Patterson, Chief Executive Officer of FirstService ( FSV ), in a statement. "Based on the current momentum and indicators across our businesses, we are optimistic we will hit our top and bottom line targets in the back half of the year," he concluded.