FirstService reported fourth quarter adjusted earnings of $1.37 per share, surpassing consensus estimates of $1.32 and up from $1.34 a year ago. Consolidated Q4 revenues rose 1% to $1.383 billion versus $1.365 billion in the prior year. Adjusted EBITDA for the quarter was $137.6 million, in line with the year-ago period, while GAAP operating earnings of $85.9 million were slightly below the prior year’s $89.6 million. For the full year, revenues grew 5% to $5.498 billion, driven by recent tuck-under acquisitions. Adjusted EBITDA climbed 10% to $562.8 million, and adjusted EPS increased 15% to $5.75, marking the strongest annual earnings growth in three years. GAAP operating earnings held steady at $338.1 million, and diluted EPS advanced to $3.17 from $2.97 in 2024.

FirstService Residential delivered Q4 revenues of $563.1 million, an 8% increase with 5% organic growth fueled by contract wins across key markets. Adjusted EBITDA rose 12% to $51.5 million, and operating earnings increased to $36.3 million. In contrast, FirstService Brands posted Q4 revenues of $820.3 million, down 3% year-over-year and 7% on an organic basis, reflecting reduced weather-related restoration work and softer roofing demand. Adjusted EBITDA fell 12% to $88.5 million, and operating earnings declined to $59.2 million. Corporate costs in adjusted EBITDA decreased to $2.4 million from $8.9 million a year ago, driven by non-cash foreign exchange adjustments.

FirstService’s board declared a quarterly cash dividend of $0.305 per share, up 11% from $0.275, payable on April 7, 2026. This marks the company’s twelfth consecutive year of at least 10% annual dividend growth, supported by robust free cash flow and disciplined capital allocation. The dividend raise underscores management’s confidence in the balance sheet and the firm’s capacity to fund strategic acquisitions while returning capital to shareholders.