Rollins - ROL STOCK NEWS

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.

According to Orkin's latest report, Miami has taken the top spot on the Top 50 Termite Cities List, surpassing Los Angeles. The ranking is based on termite treatment data from February 1, 2022, to January 31, 2023. Following Miami and Los Angeles, Tampa, Washington, D.C., and Raleigh round out the top five cities. Notably, termites cause over $5 billion in property damage annually in the U.S., often not covered by insurance. The press release highlights the importance of inspecting homes for termites, especially during the homebuying season, to prevent costly damage.

Rollins, Inc. (NYSE:ROL) has announced a new $1.0 billion senior unsecured revolving credit facility, replacing its previous facility due to mature in April 2024. This five-year agreement matures in February 2028 and allows for sustainability-linked targets, enhancing financial flexibility. CFO Kenneth Krause emphasized its role in modernizing capital structure and supporting growth strategies. The facility aims to strengthen cash flow and supports the company's Environmental, Social, and Governance (ESG) initiatives, which the company believes will deliver long-term stakeholder value.

Rollins, Inc. (NYSE:ROL) reported robust financial results for Q4 and the full year ended December 31, 2022. Q4 revenues reached $661.4 million, a 10.2% increase year-over-year, with organic revenue growth of 6.9%. Operating income surged 28.5% to $119.9 million, leading to an operating margin of 18.1%.

Net income rose 26.1% to $84.3 million, translating to EPS of $0.17. For the full year, revenues totaled $2,695.8 million, an 11.2% increase, while operating income grew 10.2%. The company continues to focus on strong cash flow generation and strategic growth through acquisitions.

Rollins, Inc. (NYSE: ROL) has declared a quarterly cash dividend of $0.13 per share, payable on March 10, 2023. This dividend reflects a significant increase of 30% compared to the same quarter last year. Shareholders must be on record by the close of business on February 10, 2023. Rollins operates a variety of pest control brands, serving over 2.8 million customers globally across 800 locations. The increase in dividend showcases the company's commitment to returning value to its investors while maintaining its status as a leader in consumer and commercial pest control services.