FirstService Reports Q2 2026 Results: Full Earnings Call Transcript

FirstService (TSX: FSV ) held its second-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary FirstService Corporation reported a 2% increase in total revenues for Q2, with EBITDA up 3% and earnings per share rising 2% over the prior year.

FirstService Residential saw a 4% revenue increase, with 5% organic growth, driven by solid performance in its core property management business.

FirstService Brands' revenue increased 1%, with Century Fire showing strong growth, while the roofing segment experienced a 6% decline due to market weakness and project delays.

The company completed acquisitions, such as Scheffer's Roofing, Titan Fire Protection, and GSC Fire and Security, to strengthen market presence.

Future guidance includes mid-single-digit revenue growth, with a focus on restoration backlog and potential weather-related boosts.

Operational highlights include a shift in focus to commercial pool maintenance and a cross-selling initiative through the Resilience First program.

Management expressed confidence in long-term growth, emphasizing strategic acquisitions and share buybacks under its normal course issuer bid.

The company maintains conservative leverage with a net debt to EBITDA ratio of 1.8 times, ensuring financial flexibility for further acquisitions and share repurchases.

Full Transcript Lisa, Operator Good day and welcome to the second quarter Investors Conference Call.

Today's call is being recorded.

Legal counsel requires us to advise that the discussion scheduled to take place today may contain forward-looking statements and involve known and unknown risks and uncertainties.

Actual results may be materially different from any future results, performance, or achievements contemplated in the forward-looking statements.

Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's Annual Information Form as filed with the Canadian Securities Administrators and in the Company's Annual Report on Form 40-F as filed with the U.S.

Securities and Exchange Commission.

As a reminder, today's call is being recorded.

Today is July 23, 2026.

As a reminder, if you would like to ask a question, please press star 11 on your telephone.

You will then hear an automated message advising that your hand is raised.

If you would like to remove yourself from the queue, please press star 11 again.

I would now like to turn the call over to Chief Executive Officer Mr.

Scott Patterson.

Please go ahead, sir.

Scott Patterson, Chief Executive Officer Thank you, Lisa.

Good morning, everyone.

Thank you for joining our Q2 conference call.

I'm on today with our CFO, Jeremy Rakusin.

I'll kick us off with some high-level comments.

Jeremy will follow with more detail.

Let me start by saying that we're generally pleased with our Q2 results in an economic environment that continues to be quite challenging.

We're also pleased with the progress we made during the quarter on a few fronts that we believe puts us in position to achieve a stronger second half of the year and gain momentum into 2027.

Total revenues for the second quarter were up 2% over the prior year.

EBITDA for the quarter was up 3%, reflecting a consolidated margin of 11.2%, up 10 basis points over the prior year and better than expectation, primarily within our Brands division.

Jeremy will walk through the detail in his prepared comments.