Rollins Q1 Revenue $906M, Exceeds Expectations
Reports Q1 revenue $906M, consensus $894.78M. "Our results for the first quarter reflect our resilient business model and the ongoing focus of our teammates on operational excellence," said CEO Jerry Gahlhoff, Jr. "We continue to invest in our business by focusing on organic demand generation activities, while also strengthening our Rollins family of brands through strategic M&A like the Romex acquisition we made in April. Our peak season is off to a strong start, and we are well-positioned from a staffing and service perspective to deliver for our customers". "We are encouraged by the sequential improvement in growth as we moved through the quarter, particularly as we exited the quarter with approximately 12 percent total growth and over 8 percent organic growth in March," said CFO Kenneth Krause. "While margin performance was muted by pressures from insurance and claims, as well as deleverage from people costs and selling investments on lower volume early in the quarter, we anticipate improving profitability in our underlying operations as we enter peak season. We continue to execute a balanced capital allocation program enabled by compounding cash flow and a strong balance sheet".
