The strong Q1 performance, particularly in Residential, supports continued market share gains and operational efficiency. Traders should monitor the upcoming conference call for guidance on full-year 2026 expectations and margin trends in the Brands segment, which faces ongoing competitive pressures.
Price Chart
Executive Summary
FirstService reported first quarter 2026 results with consolidated revenue up 5% to $1.32 billion and Adjusted EPS of $0.95, reflecting 3% growth year-over-year. GAAP EPS more than doubled to $0.44 from $0.06, driven by strong performance in FirstService Residential, which saw 10% Adjusted EBITDA growth, partially offset by margin pressure in FirstService Brands due to competitive and macroeconomic challenges.
Key Facts
- Consolidated revenue increased 5% YoY to $1.317 billion in Q1 2026
- Adjusted EBITDA rose 2% to $105.7 million; Adjusted EPS grew 3% to $0.95
- GAAP EPS surged to $0.44 from $0.06 in the prior year quarter
- FirstService Residential delivered 4% revenue growth and 10% Adjusted EBITDA growth on organic gains and labor efficiency
- FirstService Brands revenue up 6% but Adjusted EBITDA declined 6% to $64.0 million due to roofing industry pressures and promotional spending
- Cash flow from operations nearly doubled to $88.2 million from $41.3 million in Q1 2025
Financial Impact
Revenue increased by $66.3 million and Adjusted EBITDA by $2.4 million year-over-year, with GAAP Operating Earnings up $7.4 million. Net cash from operations increased by $46.97 million.
Risk Factors
- Margin compression in FirstService Brands due to competitive roofing market and promotional spending
- Macroeconomic uncertainty impacting home services demand and pricing power
- Dependence on acquisition integration and contingent earn-out performance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-002670 |
| Document: f6k_042326.htm | 0001171843-26-002670 |
| Document: 0001171843-26-002670-index-headers.html | 0001171843-26-002670 |
| Document: 0001171843-26-002670-index.html | 0001171843-26-002670 |
| Document: 0001171843-26-002670.txt | 0001171843-26-002670 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 6-K | $147.22 | awaiting T+60 | — | $140.41 (−4.63%) |
Oct 22, 2026 5d ago | Press Release | $147.22 | awaiting T+60 | — | $140.41 (−4.63%) |
Oct 21, 2026 5d ago | SC 13G | $136.59 | awaiting T+60 | — | $140.41 (+2.80%) |
Oct 19, 2026 7d ago | Press Release | $138.51 | awaiting T+60 | — | $140.41 (+1.37%) |
Sep 17, 2026 5w ago | 6-K | $132.55 | awaiting T+60 | — | $140.41 (+5.93%) |
Sep 17, 2026 5w ago | Press Release | $132.24 | awaiting T+60 | — | $140.41 (+6.18%) |
Aug 20, 2026 9w ago | 6-K / PRESS-RELEASE | $144.49 | awaiting T+60 | — | $140.41 (−2.82%) |
Jul 31, 2026 12w ago | 6-K | $140.89 $144.16 | ▲ +2.32% | ▼ −0.13% | $140.41 (−0.34%) |
Jul 23, 2026 13w ago | 6-K | $131.14 $135.07 | ▲ +3.00% | ▼ −1.56% | $140.41 (+7.07%) |
Jun 11, 2026 19w ago | Institutional Cluster | $141.46 $144.11 | ▲ +1.87% | ▼ −2.52% | $140.41 (−0.74%) |
US Market Status
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