By Adriano Marchese

FirstService's third quarter profit fell despite a rise in revenue.

The Toronto-based residential property management company on Thursday posted lower net earnings of $70.9 million, or $1.24 a share, down from $77.8 million, or $1.34 a share, in the comparable quarter a year ago.

Adjusted earnings were $1.76 a share, just above analyst expectations of $1.75 a share, according to FactSet.

Revenues rose to $1.45 billion from $1.4 billion, in line with expectations. The company noted that revenue at its Brands segment, which provides essential property services such as home improvement and restoration, rose 1% to $842.1 million, but fell 4% on an organic basis due to softer restoration and roofing activity.

Its Residential segment revenue rose 8% to $605.4 million, and 5% on an organic basis thanks to new contract wins.

Chief Executive Scott Patterson said weather-related and broader commercial macroeconomic headwinds tempered the organic top-line within its Brands division. He noted that these continue to persist.

"While we see these market challenges continuing to impact our performance in the fourth quarter, our businesses will collectively deliver a solid year of growth and profitability," Patterson said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

October 23, 2025 08:08 ET (12:08 GMT)

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