Rollins, Inc. Reports Second Quarter And Six Months 2019 Financial Results

ATLANTA, July 24, 2019 /PRNewswire/ --

• Revenue increased 9.1% for the quarter and 7.2% for the full year
• Earnings Per Share of $0.20 for second quarter 2019 and second quarter 2018
• Adjusted Earnings Per Share* of $0.21 for the second quarter 2019 and $0.20 for second quarter 2018
• Completed the acquisition of Clark Pest Control of Stockton, Inc.

Rollins, Inc. ROL, a premier global consumer and commercial services company, reported unaudited financial results for its second quarter and six months ended June 30, 2019.

The Company recorded second quarter revenues of $524.0 million, an increase of 9.1% over the prior year's second quarter revenue of $480.5 million.  Rollins' reported net income of $64.3 million or $0.20 per diluted share for the second quarter ended June 30, 2019, compared to $65.5 million or $0.20 per diluted share for the same period in 2018. 

Rollins' adjusted earnings per share (EPS)* removing several costs and expenses increased $0.01 for the quarter totaling $0.21 per diluted share.  Adjusted EPS* impacts net income for the negative impact of foreign currency exchange expenses and acquisition expense related to the Clark acquisition. 

Rollins' revenues rose 7.2% for the first six months of 2019 to $953.0 million compared to $889.2 million for the prior year.  Net income for the first six months of 2019 was $108.5 million or $0.33 per diluted share, compared to $114.1 million or $0.35 per diluted share for the same period last year. 

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, " We continue to make investments in our company and are confident that these strategies and action plans will enable us to  improve our margins and market share, and grow at a faster pace than our industry." 

On April 30, we completed the acquisition of Clark Pest Control of Stockton, Inc.  The company operates in 26 locations and offers both residential and commercial pest control throughout California and northwestern Nevada.

Rollins, Inc. is a premier global consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Clark Pest Control, 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.clarkpest.com,  www.orkincanada.ca, www.westernpest.com, www.callnorthwest.com, www.walthamservices.com, www.opcpest.com, www.permatreat.com, www.cranepestcontrol.com, www.safeguardpestcontrol.co.uk, www.aardwolfpestkare.com, 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 confidence that its investment strategies and action plans will enable it to continue to improve its margins and market share and grow at a faster pace than its industry.  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; changes in various government laws and regulations, including environmental regulations; and the impact of the U. S. Government shutdown.  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, 2018.

ROL-Fin

*"Adjusted" amounts presented in this release are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial metrics, including a reconciliation to the most closely correlated GAAP measure.

APPENDIX

Reconciliation of GAAP and non-GAAP Financial Measures

The Company has used the non-GAAP financial measure of Adjusted EPS in today's earnings release.  This measure should not be considered in isolation or as a substitute for net income or other performance measures prepared in accordance with GAAP. 

The Company uses Adjusted EPS as a measure of operating performance because it allows us to compare performance consistently over various periods without regard to fluctuations in currency valuations and the impact of the Clark acquisition on specific line item expenses enumerated in the table below.

A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.

Set forth below is a reconciliation of Adjusted EPS with net income, the most comparable GAAP measure. 

(unaudited in thousands except EPS)

CONFERENCE CALL ANNOUNCEMENT

Rollins, Inc.

ROL

Management will hold a conference call to discuss

Second Quarter 2019 results on

Wednesday, July 24, 2019 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 888-208-1711 domestic;

856-344-9299 international

at least 5 minutes before start time.

REPLAY: available through July 31, 2019

Please dial 888-203-1112/719-457-0820, Passcode 6599376

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.