Colliers International Group Inc

Latest Results (23.12.2024):

Revenue Growth

In the third quarter of 2024, Colliers International Group Inc. reported revenues of $1.18 billion, marking a 12% increase from the previous year's third quarter. This growth was driven by robust performance across all service lines, particularly in Engineering and Capital Markets. For the nine months ending September 30, 2024, revenues reached $3.32 billion, up 7% compared to the same period in 2023.

Adjusted Earnings

Colliers International Group Inc. achieved an adjusted EBITDA of $154.6 million in Q3 2024, reflecting a 7% increase from the prior year. The adjusted earnings per share (EPS) for the quarter were $1.32, up 11% from $1.19 in Q3 2023. For the nine-month period, adjusted EBITDA was $419.0 million, a 6% rise from the previous year, with adjusted EPS at $3.46 compared to $3.36 in 2023.

GAAP Earnings

The GAAP operating earnings for Colliers International Group Inc. in the third quarter of 2024 were $109.7 million, a significant increase from $70.9 million in the same quarter of the previous year. The GAAP diluted net earnings per share were $0.73, up 38% from $0.53 in Q3 2023. For the nine months ended September 30, 2024, GAAP operating earnings were $267.8 million, compared to $168.3 million in the prior year period.

Segment Performance

Colliers International Group Inc. saw notable growth in its Engineering segment, with revenues reaching $316.6 million in Q3 2024, up 22% from the previous year. The Real Estate Services segment reported revenues of $734.9 million, a 9% increase, while Investment Management revenues were $127.4 million, up 7%. The company also reported an increase in assets under management (AUM) by $2.4 billion, reaching $98.8 billion by the end of the quarter.

Strategic Outlook

Colliers International Group Inc. anticipates continued growth as it enters 2025, driven by an improving capital markets environment and expanded investment strategies. The company has been actively pursuing acquisitions, including Englobe, GWAL, Pritchard Francis, and TTM, to strengthen its operations. Colliers expects to sustain mid-to-high single-digit growth, supported by its diversified global operations and recurring revenue streams.