FirstService (TSE:FSV) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.40b (up 25% from 3Q 2023).

• Net income: US$60.5m (up 85% from 3Q 2023).

• Profit margin: 4.3% (up from 2.9% in 3Q 2023). The increase in margin was driven by higher revenue.

• EPS: US$1.34 (up from US$0.73 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

FirstService Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 58%.

Looking ahead, revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Real Estate industry in Canada.

Performance of the Canadian Real Estate industry.

The company's shares are up 1.2% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for FirstService that you should be aware of.

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