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Sep 30, 2020
Rollins Q3 2020 Earnings Report
Reported strong financial results driven by residential revenue growth and cost containment efforts.
Key Takeaways
Rollins, Inc. reported a revenue increase of 4.9% to $583.7 million in Q3 2020. Net income increased to $79.6 million, or $0.24 per diluted share, compared to $44.1 million, or $0.13 per diluted share, for the same period in 2019. Adjusted net income for the third quarter was $86.3 million, or $0.26 per diluted share, compared to $70.6 million, or $0.22 per diluted share, for the same quarter in 2019.
Third quarter revenues increased by 4.9% to $583.7 million year-over-year.
Net income for the third quarter was $79.6 million, or $0.24 per diluted share.
Adjusted net income for the third quarter reached $86.3 million, or $0.26 per diluted share.
Strong residential revenue growth helped offset the negative impact of the pandemic on commercial customers.
Rollins
Rollins
Forward Guidance
This release contains statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Positive Outlook
- Company’s continued strong residential revenue growth
- Success of the Company’s new VitalClean sanitation services
- The impact such services have on the ability of the Company’s customers to reopen
- The impact such services have on the ability of the Company’s customers to protect their own employees and customers.
- Company’s ability to identify and integrate potential acquisitions
Challenges Ahead
- The 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
- The potential unavailability of personnel or key facilities
- Modifications to the Company's operations, and the potential implementation of regulatory actions