Rollins, Inc. - ROL STOCK NEWS

Rollins, Inc. (ROL) reported a robust financial performance for Q1 2023 with $658.0 million in revenue, reflecting an 11.4% year-over-year increase. Organic revenue growth was recorded at 9.2%. Operating income also saw a significant rise, reaching $112.2 million, a 20.2% increase from last year. The company's net income climbed by 19.6% to $88.2 million, translating to earnings per share (EPS) of $0.18, a 20% increase from $0.15 in Q1 2022. Operational cash flow improved by 15.1% to $100.8 million, while free cash flow surged to $93.1 million, a 17.1% increase. The Company recently acquired FPC Holdings, LLC for $318 million.

Rollins, Inc. (NYSE:ROL), a leading global consumer and commercial services company, announced a regular quarterly cash dividend of $0.13 per share. This dividend is payable on June 9, 2023, to stockholders of record as of May 10, 2023. The declared dividend reflects a significant increase of 30% compared to the same quarter of the previous year. Rollins serves over 2.8 million customers worldwide through its various brands, providing pest control and related services across multiple continents.

Orkin has established the Orkin Professorship in Urban Entomology at the University of Georgia (UGA) with a $500,000 endowment. This initiative aims to bolster the UGA entomology program within the College of Agricultural and Environmental Sciences (CAES) and enhance research partnerships that benefit the pest control industry. The new professorship will be held by Dr. Daniel Suiter, who is recognized internationally for his contributions to urban entomology. This partnership is expected to advance research efforts and create new opportunities in the field, ultimately benefiting the economy and addressing pest management challenges. UGA’s entomology program ranks 8th globally, reflecting its strong faculty and research capabilities.

Rollins, Inc. (NYSE: ROL) announced its first quarter financial results will be released on April 26, 2023, after market close. A conference call will follow on April 27, 2023, at 8:30 a.m. Eastern Time to discuss the financial and operating results. Interested participants can join via phone or listen online through the company's website. Rollins provides pest control services globally, serving over 2.8 million customers with a workforce exceeding 17,500 employees across more than 800 locations.

Orkin Pest Control has announced its inaugural Pest Season Prediction Day along with forecasts for the 2023 pest season, based on predictions delivered by entomologist Dr. Ron Harrison. With varying weather conditions across the country, residents can expect a surge in pest populations. In regions like the Southeast, increased moisture will lead to a rise in flying pests, mosquitoes, and termites. The Northeast may see earlier appearances of carpenter bees, ladybugs, and ticks. The Midwest expects enhanced populations of mosquitoes and ants, while the Southwest faces challenges with scorpions and fire ants. The information coincides with the launch of Bug Week, a five-day social media event celebrating insects.

Rollins, Inc. (NYSE: ROL) announced the acquisition of FPC Holdings, also known as Fox Pest Control, for $350 million, which includes $32 million in contingent payments. This strategic move is set to enhance Rollins' presence in new geographical markets across the U.S. and is projected to be accretive to earnings and cash flow within the first year. Fox Pest Control, recognized as the 13th largest pest management company, adds over 1,300 employees and generated annual revenues exceeding $120 million in 2022. The acquisition aligns with Rollins' commitment to profitable growth and is financed through existing cash and credit facilities.