Overview

* FirstService ( FSV ) Q3 revenue grows 4% yr/yr but misses analyst expectations

* Adjusted EPS for Q3 beats analyst estimates, growing 8% yr/yr

* GAAP operating earnings and diluted EPS decline compared to last year

Outlook

* Company expects market challenges to impact fourth-quarter performance

Result Drivers

* RESIDENTIAL GROWTH - FirstService Residential revenues grew 8% driven by new contract wins and operational efficiencies

* BRANDS DIVISION CHALLENGES - FirstService Brands saw a 1% revenue increase, with a 4% organic decline due to reduced restoration and roofing activity

* MACROECONOMIC HEADWINDS - CEO notes weather-related and macroeconomic challenges affected organic growth in the Brands division

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $1.45 $1.47

Revenue bln bln (5

Analysts

)

Q3 Beat $1.76 $1.74 (8

Adjusted Analysts

EPS )

Q3 EPS $1.24

Property services firm

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the real estate services peer group is "buy"

* The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 29 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)