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Mar 31, 2021
Rollins Q1 2021 Earnings Report
Reported strong financial results with revenue increase and significant net income growth.
Key Takeaways
Rollins, Inc. reported a robust first quarter in 2021, marked by a 9.8% increase in revenue to $535.6 million compared to the previous year. Net income significantly rose to $92.6 million, or $0.19 per diluted share, up from $43.3 million, or $0.09 per diluted share, in the same period of 2020. The company also disposed of properties from the Clark Pest Control acquisition, contributing a pre-tax gain of $31.1 million.
Revenue increased by 9.8% compared to the first quarter of the previous year, reaching $535.6 million.
Net income increased to $92.6 million, or $0.19 per diluted share, compared to $43.3 million, or $0.09 per diluted share, for the same period in 2020.
Adjusted net income for the first quarter was $69.8 million, or $0.14 per diluted share.
The disposition of properties related to the Clark Pest Control acquisition resulted in a pre-tax gain of $31.1 million.
Rollins
Rollins
Forward Guidance
Rollins, Inc. is confident in its continued strategic growth and profitability moving forward.
Positive Outlook
- Company is well positioned for 2021.
- Employees have displayed a strong level of commitment and drive towards taking care of customers.
- Customers have shown their trust in Rollins' services throughout the pandemic.
- Confident in continued strategic growth.
- Confident in continued profitability.
Challenges Ahead
- Extent and duration of the coronavirus (COVID-19) pandemic and its potential impact on the financial health of the Company’s business partners, customers, supply chains and suppliers.
- Global economic conditions and capital and financial markets.
- Changes in consumer behavior and demand.
- Potential unavailability of personnel or key facilities.
- Modifications to the Company’s operations, and the potential implementation of regulatory actions.