Colliers Quarterly Earnings Jump with Strong Revenue Growth

Dow Jones
Jul 30
 
 

Colliers International Group saw a jump in earnings for the latest quarter on the back of double-digit revenue growth across each of its three business segments.

The Canadian professional services and investment management company recorded net earnings of $28.5 million, or 56 cents a share, against $4 million, or 8 cents a share, a year earlier.

On an adjusted basis, second-quarter earnings came in at $1.83 a share, ahead of the $1.78 mean forecast of analysts polled by FactSet.

Revenue for the three months increased 17% to $1.57 billion, beating the $1.49 billion analysts were expecting.

Collier's commercial real estate revenue rose 12% on a year prior to $997.3 million, while engineering revenue climbed 30% to $427.8 million.

Colliers, which was founded in British Columbia in 1898, also notched a 17% rise in investment management revenue to $147.2 million though the arm's adjusted earnings before interest, taxes, depreciation and amortization dipped slightly due to what the company said was continued investments in strengthening the global platform under the Harrison Street Asset Management brand.

For the full year, Colliers said it expects to generate mid-teens percentage growth in revenue, adjusted Ebitda and adjusted per-share earnings.

 
 

At the request of the copyright holder, you need to log in to view this content

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10