Rollins Inc Reports Third Quarter 2024 Financial Results
Rollins, Inc. Reports Third Quarter 2024 Financial Results
Rollins, Inc. (NYSE: ROL), a leading global consumer and commercial services company, announced its unaudited financial results for the third quarter of 2024.
Key Financial Metrics:
Metric | Q3 2024 | Q3 2023 | YoY Change | Consensus Estimate | QoQ Change |
---|---|---|---|---|---|
Total Revenue | $916M | $840.4M | +9.0% | $911.15M | N/A |
Net Income | $137M | $127.8M | +7.1% | N/A | N/A |
Earnings Per Share (EPS) | $0.28 | $0.26 | +7.7% | $0.30 | N/A |
Adjusted EPS | $0.29 | $0.28 | +3.6% | N/A | N/A |
Rollins reported a robust 9.0% increase in total revenue year-over-year, surpassing analyst expectations. However, the EPS of $0.28 fell short of the consensus estimate of $0.30, despite a 7.7% increase from the previous year.
Segment Revenue Performance:
Segment | Q3 2024 Revenue | YoY Change | Previous Guidance |
---|---|---|---|
Residential Services | $428.3M | +6.4% | N/A |
Commercial Services | $299.6M | +9.4% | N/A |
Termite and Ancillary | $177.7M | +14.5% | N/A |
The company experienced strong growth across all major segments, with termite and ancillary services leading at a 14.5% increase. This performance aligns with Rollins' strategic focus on expanding its service offerings.
Management Commentary:
Jerry Gahlhoff, Jr., President and CEO, highlighted the company's strong organic revenue growth of 7.7%, despite operational disruptions from Hurricane Helene. Kenneth Krause, Executive Vice President and CFO, emphasized ongoing investments in growth, which are expected to support long-term objectives despite short-term margin pressures.
Dividends and Share Repurchase Program:
Rollins announced a 10% increase in its quarterly dividend to $0.165 per share, payable on December 10, 2024, to shareholders of record on November 12, 2024.
Forward Guidance:
The company did not provide specific forward guidance but indicated confidence in achieving healthy margin improvement and double-digit earnings growth for the year.
Stock Price Movement:
Following the earnings release, Rollins' stock experienced a decline of approximately 5.2%, closing at $47.15, reflecting investor concerns over the EPS miss and margin pressures.
Overall, Rollins, Inc. continues to demonstrate resilience and strategic growth in a challenging market environment, positioning itself for future success.
Impressive Revenue Growth in Third Quarter 2024 51Talk Q3 2024 Earnings Report51Talk Online Educat
Costco Wholesale Corporation Reports First Quarter Financial Results
Quanex Building Products Corporation Reports Q4 and Fiscal 2024 Financial Results
Share