Colliers International Group, Inc. (NASDAQ:CIGI) Q4 2022 Earnings Conference Call February 9, 2023 11:00 AM ET
Company Participants
Jay Hennick - Chairman & CEO
Christian Mayer - CFO
Conference Call Participants
Michael Doumet - Scotia Capital
Stephen Sheldon - William Blair and Company
Stephen MacLeod - BMO Capital
Daryl Young - TD Securities
Chandni Luthra - Goldman Sachs
Frederic Bastien - Raymond James
Operator
Welcome to the Colliers International Fourth Quarter Investors Conference Call. Today's call is being recorded.
Legal counsel requires us to advise that the discussion scheduled to take place today may contain forward-looking statements that involve known and unknown risk and uncertainties. Actual results may be materially different from any future results, performance or achievements contemplated in the forward-looking statements.
Additional information concerning factors that could cause actual results to materially differ from those in forward-looking statements is contained in the company's annual information form as filed with the Canadian Securities Administrators and in the company's Annual Report on Form 40-F as filed with the U.S. Securities and Exchange Commission. As a reminder, today's call is being recorded. Today is February 9, 2023.
And at this time, for opening remarks and introductions, I would like to turn the call over to Global Chairman and Chief Executive Officer, Mr. Jay Hennick. Please go ahead, sir.
Jay Hennick
Thank you, Operator. Good morning, and thanks for joining us for this fourth quarter and year-end conference call. I'm Jay Hennick, the Chairman and Chief Executive Officer. And with me today is Christian Mayer, Chief Financial Officer. As always, this call is being webcast and is available in the Investor Relations section of our website. A presentation slide deck is also available there to accompany today's call.
During the fourth quarter, investment management and outsourcing and advisory delivered strong revenue growth, while leasing matched the record results from the prior year period. As expected interest rate volatility and challenging debt markets impacted capital markets in our seasonally strongest quarter. We expect this to continue through the first half of 2023.
However, transactions are still being completed and there's significant pent-up demand for real estate assets, which should translate into additional volumes in future quarters, especially as conditions stabilize.
Aside from capital markets, momentum from the balance of our business is better than expected as you'll hear from Christian.
Strong full-year performance was driven by high value recurring service lines, which continues to validate our strategy of transforming Colliers into a different kind of diversified services company.