FSV - FirstService Q2 revenue rises 34%Y/Y

FirstService ([[FSV]] +0.5%) Q2 revenues rose 34% Y/Y to $831.6M.Residential revenues were $406.22M for Q2, up 20% compared to the prior year period. The company said the revenue performance in the quarter reflected an increase in labour-driven services, including its amenity management offering which benefited from the reopening of client facilities in the aftermath of the pandemic.Q2 Brands revenues rose 50% Y/Y to $425.41M.The company noted that growth was driven by robust home improvement performance. Strong growth was seen in restoration operations, which benefited from increased weather-related activity and large loss claims relative to last year.Adjusted EBITDA increased 26% Y/Y to $89.9M.Adjusted EPS rose 41% Y/Y to $1.21 in Q2.For full year 2021, consensus EPS estimate is $3.87, while consensus revenue estimate is $3.06B.Source: Press Release

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FirstService Q2 revenue rises 34%Y/Y