Colliers International Group (CIGI.TO) fell 3.4% in pre-market Nasdaq trading on Thursday after its fourth-quarter profit missed estimates.
The professional services and wealth-management company said it earned US$75.12 million, or US$1.47 per share, in the period, up from US$67.43 million, or US$1.42, in the year-prior quarter.
Adjusted earnings per share, excluding most one-time items, rose to US$2.26 from US$2.00, but lagged the FactSet consensus estimate for adjusted earnings of US$2.38 per share.
Revenue rose 22% to US$1.5 billion from US$$1.24 billion.
"Engineering revenues recorded the highest percentage increase driven by recent acquisitions in Canada, the US and Australia. Real Estate Services performed strongly in both Capital Markets and Leasing, while Investment Management experienced modest growth compared to the previous year," Chief Executive Jay Hennick said in a release.
The company expects growth to continue in 2025, with capital markets operations benefitting from stable interest rates and its engineering business working on a robust contract backlog.
Colliers shares were last seen down US$4.95 to US$140.97 pre-market. They closed up $3.15 to $208.51 Wednesday on the Toronto Stock Exchange.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.