FirstService: Q2 Results Highlight Further Growth Ahead For This Compounder

Summary

• FirstService is a real estate services company specializing in property management and maintenance.
• The company reported positive Q2'24 results, with revenues up 15.9% and adjusted EBITDA up 11.9%.
• With dominant market positions in several industries operating recognizable brands with geographical reach, the company has a scale advantage that enables it to achieve both organic and inorganic growth.
• The recent acquisition of CitiScape enhances FirstService's property management presence in the West Coast market, while the acquisition of two roofing businesses in Florida solidifies its position in the Southeastern U.S.

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Please note all $ figures in $USD, not $CAD, unless otherwise stated.

Introduction

FirstService (NASDAQ:FSV) is a relatively undiscovered compounder in Canada that's been growing for years. If you live in a strata condo or

Analyst’s Disclosure:I/we have a beneficial long position in the shares of FSV:CA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.