By Robb M. Stewart
Colliers International Group is eyeing another year of solid growth for the recent quarter as capital markets show recovery, with interest rates and asset valuations stabilizing and fundraising conditions improve for its investment management business.
The Canadian professional services and investment management company recorded fourth-quarter net earnings of $75.1 million, or $1.47 a share, up from $67.4 million, or $1.42 a share, a year earlier.
On an adjusted basis, per-share earnings came in at $2.26 against the $2.38 mean forecast of analysts polled by FactSet. The company said adjusted earnings would have been about 2 cents higher for the latest quarter excluding foreign exchange impacts.
Revenue for the three months jumped 22% to $1.5 billion, beating the $1.43 billion analysts were expecting.
Collier's real estate services business logged a 12% rise in revenue to $943.5 million. Revenue from its investment management arm rose 5.8% to $136.6 million, while engineering-services revenue increased 61% to $421.4 million.
The company, which was founded in British Columbia in 1898, said it expects growth in 2025 internally and from completed acquisitions.
It forecast high single-digit to low-teens percentage growth in revenue for the year and low-teens growth in adjusted earnings per share. The outlook reflects currently prevailing foreign-exchange rates, which are closely tied to international trade uncertainty, it noted.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
February 06, 2025 07:40 ET (12:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.