-- Colliers International Group (CIGI.TO, CIGI) was down 3% in US premarket trade at last look Tuesday after it reported a miss on its first quarter adjusted earnings, even though both the adjusted earnings and revenues were up on a year earlier, and said its outlook for 2026 remains unchanged, while including the impact of Ayesa Engineering.
The company's first quarter adjusted EPS was US$0.91, compared to $0.87 per share in the corresponding year-ago quarter. The consensus estimates compiled by FactSet for Non GAAP EPS was $0.94 per share.
First quarter revenues were $1.31 billion, up from $1.14 billion in the year-ago quarter. Net revenues for the first quarter were $1.15 billion, compared to $993.7 million in the year-ago quarter.
The company said its outlook for 2026 remains unchanged and includes the impact of Ayesa Engineering, which is expected to close in late May, while it added the outlook drivers by segment are also unchanged.
"Colliers delivered a strong start to 2026, demonstrating the strength and durability of our diversified professional services and investment management platform," said Jay S. Hennick, Global Chairman and Chief Executive Officer.
"We executed to plan in a still uneven operating environment, with continued momentum in our resilient businesses and ongoing improvement in Commercial Real Estate transaction activity. Importantly, our results underscore the platform we've built -- a global business designed to perform through every stage of the economic cycle.
"During the quarter, we strengthened our leadership team to capitalize on expanding opportunities across Commercial Real Estate and Engineering. We enhanced our financial flexibility with $400 million of long-term debt financing and we extended our revolving credit facility -- positioning us to integrate the acquisition of Ayesa Engineering, which we expect will close later this quarter."
Shares in CIGI eased 0.8% in Canada and the United States yesterday.