Colliers International (CIGI) Misses Q1 EPS by 11c, Revenues Beat

Colliers International (NASDAQ: CIGI) reported Q1 EPS of $0.51, $0.11 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $635.1 million versus the consensus estimate of $628.75 million.

“Colliers delivered a solid start to 2019. We remain confident in our outlook for 2019 and are pleased with the impact Harrison Street is having on the growth and diversification of our business,” said Jay S. Hennick, Chairman and CEO of Colliers International. “Following a record year of acquisitions last year, we have completed three acquisitions so far this year, adding the market leader in Virginia with 340 professionals, our former affiliate and one of the top players in the vibrant growth market of Charlotte, North Carolina as well as our former affiliate in Sweden, further strengthening our European platform. Finally, earlier this month, we extended our $1 billion revolving credit facility to 2024 and established a structured accounts receivable facility, diversifying our capital structure and reducing borrowing costs. With a strong balance sheet, disciplined growth strategy, proven track record and greater diversification, Colliers is well positioned to deliver another strong year of growth in 2019,” he concluded.

For earnings history and earnings-related data on Colliers International (CIGI) click here.

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