Shares of FirstService Corporation (FSV) plummeted 5.29% intraday, following the release of its second-quarter 2026 financial results. While the company reported profitability that was in line with expectations, the market reacted negatively to management’s commentary on the growth outlook.

For the second quarter, FirstService announced consolidated revenues of $1.45 billion, a 2% increase from the prior year, and Adjusted EBITDA of $161.7 million, up 3%. Adjusted earnings per share came in at $1.75, a 2% improvement year-over-year. Despite these gains, CEO Scott Patterson cited “continued macroeconomic headwinds that tempered organic growth” and noted that top-line growth for the remainder of the year is expected to be “similar or modestly better” than the year-to-date performance. This subdued outlook appears to have disappointed investors and triggered the sell-off.

Operationally, the FirstService Brands division saw organic revenues decline 3%, driven by reduced activity at its Roofing Corp. of America unit, which offset solid growth in its fire protection business. This performance underscored the challenging market conditions highlighted by the CEO.