ATLANTA, Oct. 25, 2017 /PRNewswire/ -- Rollins, Inc. (NYSE: ROL), a premier global consumer and commercial services company, reported unaudited financial results for its third quarter and nine months ended September 30, 2017.

The Company recorded third quarter revenues of $450.4 million, an increase of 6.2% over the prior year's third quarter revenue of $424.0 million.  Rollins' net income increased 3.6% to $51.4 million or $0.24 per diluted share for the third quarter ended September 30, 2017, compared to $49.7 million or $0.23 per diluted share for the same period in 2016. 

Rollins' revenues rose 6.0% for the first nine months of 2017 to $1.259 billion compared to $1.188 billion for the prior year.  Net income for the first nine months of 2017 was $145.4 million, an increase of 12.4%, or $0.67 per diluted share compared to $129.4 million or $0.59 per diluted share for the same period last year. 

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, "We are pleased with the overall revenue results our Company reported for the third quarter and first nine months of this year.  For the quarter revenue increased 6.2% and 6.0% year-to-date.

We were disappointed however with the impact to profitability that Hurricane Harvey had on several of the Company's regions:  Southwest and North Texas, South Central Commercial, Oklahoma, Louisiana, and Mississippi. These areas were negatively impacted by pre-hurricane preparation, flood conditions, closed branches, and our inability to service many of our customers. 

Fortunately our people were unharmed, and where appropriate we compensated them even when they were unable to work. Our Employee Relief Fund has also been beneficial to many impacted employees.  Hurricane Irma followed at the end of August with a similar effect in Florida, Georgia, Alabama, Mississippi, and Louisiana.

Some good news, on August 1, 2017, we completed the acquisition of Northwest Exterminating.  Northwest was established in 1951 and services approximately 120,000 customers in Georgia, Tennessee, Alabama, North Carolina and South Carolina.  The purchase of this outstanding company will expand our presence in the Southeast.  This acquisition provides significant opportunity for both Rollins and Northwest to grow and learn from each other.  We see many benefits from this combination."

Rollins, Inc. is a premier global consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Orkin Canada, Western Pest Services, Northwest Exterminating, Critter Control, Inc., The Industrial Fumigant Company, Trutech LLC., Rollins Australia, Waltham Services LLC., PermaTreat, Rollins UK, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, Mexico, and Australia from more than 700 locations. You can learn more about Rollins and its subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.orkincanada.ca, www.westernpest.com, www.callnorthwest.com, www.crittercontrol.com, www.indfumco.com, www.trutechinc.com, www.allpest.com.au, www.walthamservices.com, www.permatreat.com, www.cranepestcontrol.com, www.murraypestcontrol.com.au, www.statewidepestcontrol.com.au,, www.safeguardpestcontrol.co.uk, and www.rollins.com. You can also find this and other news releases at www.rollins.com by accessing the news releases button.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements include statements about the Company's expanded presence in the Southeast and the expectation of talent and benefits from the Northwest Exterminating acquisition. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including without limitation, economic and competitive conditions which may adversely affect the Company's business; the degree of success of the Company's pest and termite process, and pest control selling and treatment methods; the Company's ability to identify and integrate potential acquisitions; climate and weather trends; competitive factors and pricing practices; the Company's ability to attract and retain skilled workers, and potential increases in labor costs; uncertainties of litigation; and changes in various government laws and regulations, including environmental regulations.  All of the foregoing risks and uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements.  A more detailed discussion of potential risks facing the Company can be found in the Company's Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2016.

 

 

 

 

 

Rollins, Inc.
(NYSE: ROL)

Management will hold a conference call to discuss
Third Quarter 2017 results on

Wednesday, October 25, 2017 at:
10:00 a.m. Eastern
 9:00 a.m. Central
8:00 a.m. Mountain
7:00 a.m. Pacific

TO PARTICIPATE:
Please dial 877-830-2636 domestic;
785-424-1802 international
at least 5 minutes before start time.

REPLAY: available through November 1, 2017
Please dial 888-203-1112/719-457-0820, Passcode: 4560105
THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT
www.viavid.com

Questions?
Contact Samantha Alphonso at Financial Relations Board at 212-827-3746
Or email to salphonso@mww.com

 

For Further Information Contact
Eddie Northen (404) 888-2242

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SOURCE Rollins, Inc.