Abstract

Colliers will report quarterly results on May 5, 2026 Pre-Market; this preview summarizes the latest forecasts for revenue, margins and EPS, and incorporates institutional commentary since January 1, 2026 through April 28, 2026.

Market Forecast

The market anticipates Colliers’s current quarter revenue at 1.28 billion US dollars, with forecast year-over-year growth of 10.80%. The company’s EBIT is projected at 53.07 million US dollars, up 21.36% year over year, and adjusted EPS is estimated at 0.95, up 13.23% year over year. The company’s prior quarter gross profit margin stood at 40.41%, net profit margin at 3.80%; no explicit guidance for this quarter’s margins was disclosed, but consensus implies modest improvement alongside operating leverage.

Colliers’s main business is real estate services, complemented by engineering and investment management. The most promising segment is real estate services given its scale at 1.03 billion US dollars last quarter; engineering and investment management also support recurring fee growth.

Last Quarter Review

Colliers delivered revenue of 1.61 billion US dollars in the previous quarter, with a gross margin of 40.41%, GAAP net profit attributable to shareholders of 61.12 million US dollars, a net profit margin of 3.80%, and adjusted EPS of 2.34, with revenue rising 6.99% year over year and adjusted EPS rising 3.54% year over year. Net profit grew sequentially by 44.71%, reflecting seasonal and mix benefits, while operating discipline supported margin resilience. By segment, real estate services generated 1.03 billion US dollars, engineering 0.43 billion US dollars, and investment management 0.14 billion US dollars; real estate services remained the core revenue driver as the broader transaction market stabilized.

Current Quarter Outlook

Main business: Real estate services stabilization and fee mix

Revenue in the real estate services segment was 1.03 billion US dollars last quarter, anchoring the group’s top line. The current quarter’s guidance at 1.28 billion US dollars indicates continued recovery in leasing and capital markets activity relative to a soft prior year, with operating leverage expected to support earnings as volumes normalize. Any improvement in cross-border capital flows and office leasing velocity could further assist fee capture, though performance remains sensitive to transaction timing and regional demand dispersion.

Most promising business: Engineering and recurring fee streams

Engineering contributed 0.43 billion US dollars last quarter and continues to broaden Colliers’s recurring revenue base. The current EBIT forecast of 53.07 million US dollars and EPS of 0.95 suggest operating efficiency from higher-margin project management and consulting workflows. As the project pipeline converts and utilization remains healthy, the segment offers visibility that helps offset transaction-driven cyclicality in brokerage-heavy lines.

Key stock price drivers this quarter

Margin trajectory is central: with last quarter’s gross margin at 40.41% and net margin at 3.80%, investors will watch whether operating leverage and mix lift margins alongside the revenue increase. Execution in capital markets and leasing will influence the top-line outcome versus the 1.28 billion US dollars consensus, as deal delays or accelerations can sway quarterly prints. Lastly, progress on integrating acquired capabilities into the engineering platform and scaling investment management fees could shape sentiment on durability of growth and earnings quality.

Analyst Opinions

Buy-side opinions dominate recent commentary on Colliers. Multiple institutions reiterated or maintained Buy ratings with constructive stances on revenue diversification and earnings growth. Notably, Scotiabank maintained a Buy rating with a 185.00 US dollars target, BMO Capital maintained a Buy with a 188.00 US dollars target, and RBC Capital assigned a Buy with a 160.00 target, while William Blair kept an Outperform view highlighting the strategic benefits of platform expansion. The prevailing view expects mid-teens EPS growth supported by engineering and investment management, with upside if real estate transaction activity improves faster than anticipated. Overall, the majority of analysts are bullish, citing a favorable mix shift toward more recurring, resilient earnings and an improving pipeline in brokerage-related activities.