$FSV.TO

FirstService's Subsidiary Roofing Corp of America Acquires Schefers Roofing

FirstService (FSV.TO) on Wednesday said that its subsidiary, Roofing Corp of America (RCA), has acquired Schefers Roofing.Terms of the transaction were not disclosed.The existing management team has retained a minority equity interest and will continue to oversee the day-to-day operations of the business, said the company.Schefers is a full-service commercial roofing contractor providing installation, restoration, preventative maintenance and leak repair services, stated the company."The addition of Schefers expands RCA's geographic footprint into the Kansas City market and further strengthens our presence in the Midwest U.S. region," said Randy Korach, CEO of RCA. "We are pleased to add a highly respected market leader to our growing commercial roofing platform and welcome the entire Schefers team to our organization."

FirstService Up 0.4% In US Premarket As Amends NCIB to Increase Share Buyback

FirstService (FSV.TO) said Tuesday that the Toronto Stock Exchange has approved its amendment to increase the size of its normal course issuer bid (NCIB) to 4.1 million shares, from 1.6 million shares.The amendment takes effect from June 4. Under the NCIB, as of May 31, FirstService has bought back 931,182 shares at an average price of US$132.38 each (or a total of US$123.3 million).The amended NCIB will end on August 25.FirstService shares were last seen up US$0.53 to US$134.78.

FirstService Announcing Amendment to Maximize Size of NCIB and Entering Into of Automatic Share Purchase Plan

FirstService's Subsidiary Century Fire Protection Acquires GSC Fire & Security and Titan Fire Protection

FirstService's (FSV.TO, FSV) subsidiary, Century Fire Protection, has recently acquired GSC Fire & Security and Titan Fire Protection, both based in the United States, said the company Thursday.The existing management teams of both businesses have retained minority equity interests and will continue to oversee their respective day-to-day operations, said the company.Terms of the two transactions were not disclosed.GSC provides fire alarm installation and fire alarm and sprinkler inspection, repair and monitoring services to multi-family residential and commercial clients in the Austin and San Antonio metropolitan areas and surrounding regions within Texas, stated the company.Titan is a "leading provider" of fire sprinkler installation and retrofit services to a broad range of commercial and institutional end markets, including healthcare facilities, storage facilities, schools and multi-family properties in the Tampa metropolitan area and across Central Florida, added the company."These additions further advance Century's strategy of enhancing our scale and broadening our service capabilities and geographic footprint across our operations," said Richard Deeb, Chief Executive Officer of Century. "The acquisitions of GSC and Titan bolster our presence in the fast-growing U.S. Sun Belt region. We are excited to be partnering with the leaders of both businesses to deepen our fire sprinkler and alarm capabilities and drive further growth in these markets."

Roofing Corp of America Enters Kansas City Market Through Schefers Roofing Acquisition

FirstService (FSV.TO) unit Roofing Corp of America on Wednesday said it acquired Kansas City-based Schefers Roofing, marking RCA's 16th acquisition since its founding in December 2020.The partnership brings the company's total footprint to 27 branch locations nationwide.Founded in 1995, Schefers Roofing is a commercial roofing contractor serving Missouri, Northern Arkansas, and surrounding markets, with capabilities spanning commercial roofing, roof restoration, preventative maintenance, leak repair, and architectural sheet metal fabrication."Over the past 30-plus years, we've built Schefers Roofing Co. on hard work, trusted relationships, and a commitment to quality," said Lance Schefers, chief executive of Schefers Roofing. "As consolidation continued across the roofing industry, Roofing Corp of America stood out because they share our values and commitment to our people and customers. I'm proud of what we've built and excited about what this partnership means for our future."Schefers will remain CEO of the company. Day-to-day operations will continue to be led by president Doug Mackesty and senior superintendent James Napper. Schefers Roofing will continue operating as a standalone business within Roofing Corp of America."We are excited to partner with Lance, Doug, James, and the entire Schefers Roofing team," said Randy Korach, Roofing Corp of America's chief executive. "They've built an outstanding business and strong reputation in the Kansas City market, and we're proud to welcome them to RCA."FirstService shares were last seen up $5.475 to $180.565 on Toronto Stock Exchange.Price: $180.87, Change: $+5.78, Percent Change: +3.30%

FirstService Declares Quarterly Cash Dividend of US$0.305 Per Share

FirstService's (FSV.TO) board of directors declared a second-quarter cash dividend of US$0.305 per share, payable on July 7, to shareholders of record at the close of business on June 30, it said Wednesday.The payout is unchanged from the prior quarter.Price: $180.72, Change: $+9.51, Percent Change: +5.55%

FirstService Price Target Cut to US$200.00 at Stifel Canada

Stifel Canada cut its price target on the shares of FirstService (FSV.TO, FSV) shares to US$200.00, from US$215.00 even though the company reported "solid" first quarter results.Analyst Daryl Young, who is maintaining a buy rating on the shares, says overall, the macro environment remains tepid which is stymying a more "fulsome" re-acceleration of results, but FirstService should still be able to grind out mid to single digit growth (plus upside from tuck-ins and potential restoration storm-revenues)."We view the stock as trading at a trough valuation on trough estimates."Price: $199.36, Change: $-0.68, Percent Change: -0.34%

Stifel Canada Reviews FirstService Q1 Results

Stifel Canada is slightly positive on FirstService (FSV.TO, FSV) after it reported first-quarter results that were a slight beat.Analyst Daryl Young, who is maintaining a buy rating and US$215.000 on the shares of the company, said it was "well-telegraphed" that the first quarter would be a slower start to the year as management focused on shedding low-margin residential contracts, coupled with ongoing roofing headwinds.The first quarter is also seasonally the weakest quarter of the year so the margin impacts in roofing were more amplified, Young added."We expect roofing to remain a drag this year given weak commercial construction activity that has caused heightened competition for repair/replace work (recall ~2/3rds of industry demand is repair and replace over a full cycle). However, our roofing survey work points to a stabilization of the industry (at trough levels)," he writesPrice: $200.72, Change: $-3.83, Percent Change: -1.87%

FirstService up 2% in U.S. Pre-Market, Reports Higher Q1 Adjusted Earnings, Revenue

FirstService (FSV.TO) adjusted earnings and revenue for the first quarter both advanced, beating estimates, the company reported on Thursday. FirstService shares are up 2% in New York trading.Adjusted earnings edged up to US$43.5 million, or $0.95 per adjusted share, from $42.1 million, or $0.92 per adjusted share, from the prior year period. Analysts polled by FactSet had expected $0.88 per share.Revenue increased 5% to $1.32 billion over the same period, beating the $1.31 billion forecast."We are pleased with our results to start the year, which were largely in-line with internal expectations across all of our brands," said chief executive Scott Patterson. "Our businesses remain focused on driving market share gains and building growth momentum for the balance of 2026."FirstService shares were last seen up $2.99, to $152.55, in U.S. pre-market trading.

FirstService Q1 Adjusted EPS US$0.95 Vs $0.92 a Year Earlier

Majority of FirstService's Revenue "Economically Resilient", Says Stifel Canada

The macro backdrop this year has been increasingly murky with continued weak commercial construction activity, interest rate volatility, and record low consumer sentiment amid the Iran war, notes Stifel Canada.However, analyst Daryl Young sees the majority of First Service's (FSV.TO, FSV) revenue as economically resilient. Young, who is maintaining a buy rating and US$215.00 price target on the stock, says FirstService has also set the bar sufficiently low for 2026 in terms of mid-single-digit organic growth.In 2026, restoration should benefit from inclement winter weather to start the year, while Stifel Canada's roofing survey points to signs of the industry stabilizing (albeit still very challenging). The company has a very strong balance sheet and is poised to play offense should private equity challenges lead to a more attractive M&A environment, Young adds.FirstService reports its fourth-quarter earnings on April 23. Young is forecasting fourth-quarter revenue growth of 4.2% y/y, underpinned by 1.8% M&A growth and 2.4% organic growth.Price: $205.41, Change: $+0.38, Percent Change: +0.19%

FirstService Completes Two Tuck-Under Buys

FirstService Corporation (TSX and NASDAQ: FSV), a North American player in the property services sector, announced that it has completed two acquisitions which further add to the company-owned operations within its Paul Davis Restoration and California Closets business lines. Terms of the transactions were not disclosed.In a statement FSV noted Paul Davis Restoration recently expanded its company-owned platform with the acquisition of its franchised operation covering the Cleveland and Akron, Ohio markets. This business provides mitigation, contents, reconstruction and mold remediation services to residential property owners, as well as commercial and institutional accounts. The existing leadership team will retain an ownership interest and continue to run day-to-day operations across this Ohio region. "This acquisition furthers our strategy of selectively acquiring franchises within our aggregate network of approximately 375 locations across North America, FSV said.FSV also noted California Closets acquired the franchised territories encompassing the metropolitan areas of Indianapolis, Indiana; Louisville and Lexington, Kentucky; and Cincinnati, Ohio. This acquisition further expands the owned operations of the California Closets brand into additional markets with significant future growth potential, it added."We continue to advance our company-owned strategies at Paul Davis and California Closets as opportunities present themselves," said Scott Patterson, CEO of FirstService. "These tuck-under acquisitions bolster our presence and ability to capitalize on the growth opportunities in major markets across North America."Shares in FSV were last seen down 2% in US premarket, after rising 1.9% in the U.S. and 1.6% in Canada yesterday.