Summary of CIGI Q1 2026 Earnings Call

1Key Financial Results and Metrics

Consolidated Revenues: Up 12% year-over-year to $1.15 billion.

Net Revenues: Increased by 12%.

Adjusted EBITDA: Rose 8% to $125 million.

Adjusted EPS: Increased 5% to $0.91, impacted by a higher-than-expected tax rate in Europe.

Commercial Real Estate (CRE) Segment: Net revenue up 13%, with capital markets revenues soaring 43%.

Engineering Segment: Net revenue also up 13%, but net margin slightly decreased to 9.5%.

Investment Management: Net revenues grew 8%, with assets under management reaching nearly $1.9 billion.

2Strategic Updates and Business Highlights

Colliers is focused on three growth engines: Commercial Real Estate, Engineering and Project Management, and Investment Management.

Strengthened leadership in Engineering with the appointment of a new CEO.

Increased financial flexibility through a $400 million long-term debt financing and an extended revolving credit facility, facilitating the upcoming acquisition of Ayesa Engineering.

Notable growth in transaction services and improved investor sentiment in the CRE sector.

The company is investing in talent acquisition and IT infrastructure, particularly in AI, to enhance operational efficiency.

3Forward Guidance and Outlook

Colliers maintains a full-year outlook for mid-teens growth in revenue, EBITDA, and EPS.

Confidence in growth driven by robust pipelines in CRE transactions and resilient business segments.

Anticipates a gradual recovery in the Engineering sector, particularly in infrastructure and telecommunications.

Investment Management fundraising target remains at $6 billion to $9 billion for 2026, with expectations of increasing momentum.

4Bad News, Challenges, or Points of Concern

Geopolitical Risks: Acknowledged increased geopolitical risks and macroeconomic volatility, particularly affecting Europe and APAC markets.

Utilization Rates: Engineering segment experienced lower workforce utilization in residential development and telecommunications, though expected to improve.

Outsourcing Growth: Slower than anticipated growth in the outsourcing segment, with no significant tough comparables noted.

Margin Pressures: Investment Management margins expected to decline temporarily due to integration costs associated with recent acquisitions.

5Notable Q&A Insights

Capital Markets: Continued strong growth attributed to improving market conditions and increased producer workforce. However, some caution was noted regarding rate volatility.

Investment Management: Fundraising is ahead of last year, with confidence stemming from new investment strategies and strong investor interest, particularly in infrastructure.

Geographic Diversification: The company emphasized the importance of geographic diversification in mitigating risks from regional downturns.

AI Investments: Significant investments in AI and IT are underway to enhance operational capabilities and streamline processes.

Synergies Between Segments: Ongoing collaboration between Engineering and CRE is expected to yield additional value for clients, particularly in land acquisition and project management. Overall, Colliers reported strong financial results and a positive outlook for 2026, while acknowledging challenges in certain markets and segments. The company remains focused on leveraging its diversified business model to navigate potential headwinds.