Results are in line with prior year with no catalyst for re-rating. Monitor H2 organic growth trends at FirstService Brands and management's ability to sustain margins. The $248M buyback signals capital return but does not offset the sluggish organic performance. Next catalyst is Q3 earnings in October.
Price Chart
Executive Summary
FirstService reported Q2 2026 results with modest growth: revenue +2% YoY to $1.45B, Adjusted EBITDA +3% to $161.7M, and Adjusted EPS +2% to $1.75. GAAP diluted EPS declined slightly to $1.00 from $1.01. The FirstService Brands division saw organic revenue decline 3%, partially offset by Residential growth. Management guided for similar or modestly better H2 growth, citing persistent macroeconomic headwinds. The company also repurchased $248.4M of common shares during the quarter.
Key Facts
- Q2 2026 revenue $1.45B, +2% YoY
- Adjusted EBITDA $161.7M, +3% YoY
- Adjusted EPS $1.75, +2% YoY
- GAAP diluted EPS $1.00, -1% YoY
- FirstService Brands organic revenue -3% YoY
- FirstService Residential organic revenue +5% YoY
- Share repurchases of $248.4M in Q2 2026
- Management expects H2 growth similar or modestly better than H1
Financial Impact
Low single-digit revenue and adjusted earnings growth; GAAP EPS slightly down. No material change to financial trajectory.
Risk Factors
- Macroeconomic headwinds continuing to pressure organic growth, especially at FirstService Brands
- Organic revenue decline at Brands division (-3%) may persist if roofing activity remains weak
- GAAP EPS decline despite revenue growth suggests margin compression or higher non-cash charges
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-004850 |
| Document: f6k_072326.htm | 0001171843-26-004850 |
| Document: 0001171843-26-004850-index-headers.html | 0001171843-26-004850 |
| Document: 0001171843-26-004850-index.html | 0001171843-26-004850 |
| Document: 0001171843-26-004850.txt | 0001171843-26-004850 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 6-K | $147.22 | awaiting T+60 | — | $144.16 (−2.08%) |
Oct 22, 2026 4d ago | Press Release | $147.22 | awaiting T+60 | — | $144.16 (−2.08%) |
Oct 21, 2026 5d ago | SC 13G | $136.59 | awaiting T+60 | — | $144.16 (+5.54%) |
Oct 19, 2026 7d ago | Press Release | $138.51 | awaiting T+60 | — | $144.16 (+4.08%) |
Sep 17, 2026 5w ago | 6-K | $132.55 | awaiting T+60 | — | $144.16 (+8.76%) |
Sep 17, 2026 5w ago | Press Release | $132.24 | awaiting T+60 | — | $144.16 (+9.02%) |
Aug 20, 2026 9w ago | 6-K / PRESS-RELEASE | $144.49 | awaiting T+60 | — | $144.16 (−0.23%) |
Jul 31, 2026 12w ago | 6-K | $140.89 $144.16 | ▲ +2.32% | ▼ −0.13% | $144.16 (+2.32%) |
Jul 23, 2026 13w ago | 6-K | $131.14 $135.07 | ▲ +3.00% | ▼ −1.56% | $144.16 (+9.93%) |
Jun 11, 2026 19w ago | Institutional Cluster | $141.46 $144.11 | ▲ +1.87% | ▼ −2.52% | $144.16 (+1.91%) |
US Market Status
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