ROLLINS, INC. REPORTS FOURTH QUARTER 2022 FINANCIAL RESULTS

Rhea-AI Summary

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.

Positive

• Q4 revenues increased by 10.2% to $661.4 million.
• Q4 organic revenue growth of 6.9%.
• Operating income rose by 28.5% to $119.9 million.
• Net income surged 26.1% to $84.3 million with an EPS increase to $0.17.
• Full-year revenues grew by 11.2% to $2,695.8 million.

Negative

• Operating margin decreased by 20 basis points to 18.3% for the full year.
• Adjusted EBITDA as a percentage of sales decreased by 50 basis points year-over-year.

Strong revenue growth drives 26.1% increase in quarterly net income

ATLANTA, Feb. 15, 2023 /PRNewswire/ -- Rollins, Inc. (NYSE:ROL) ("Rollins" or the "Company"), a premier global consumer and commercial services company, reported unaudited financial results for its fourth quarter and twelve months ended December 31, 2022.

Quarterly Highlights

• Fourth quarter revenues were $661.4 million, an increase of 10.2% over the fourth quarter 2021 with organic revenues* increasing 6.9%. The stronger dollar versus foreign currencies in countries where we operate reduced revenues by 70 basis points during the quarter.
• Quarterly operating income was $119.9 million, an increase of 28.5% over the fourth quarter of 2021. Quarterly operating margin was 18.1% of revenue, an increase of approximately 260 basis points compared to the fourth quarter of 2021. Adjusted EBITDA* was $145.9 million for the quarter, an increase of 19.5%. Adjusted EBITDA was 22.1% of sales, an increase of approximately 180 basis points compared to the fourth quarter of 2021.
• Quarterly net income was $84.3 million, an increase of 26.1% over the prior year GAAP net income and 17.4% over prior year adjusted net income*. Quarterly EPS was $0.17 per diluted share, an increase over the prior year GAAP EPS of $0.14 and prior year adjusted EPS* of $0.15.
• Operating cash flow was $123.4 million, increasing 19.9% compared to the same quarter a year ago.

Full Year Highlights

• Full year revenues were $2,695.8 million, an increase of 11.2% over 2021 with organic revenues* increasing 7.8%. The stronger dollar versus foreign currencies in countries where we operate reduced revenues by 40 basis points during the year.
• Operating income was $493.4 million, an increase of 10.2% over 2021. Operating margin was 18.3% of revenue, a decrease of 20 basis points compared to 2021. Adjusted EBITDA* was $592.9 million for the year, an increase of 8.5%. Adjusted EBITDA was 22.0% of sales, a decrease of 50 basis points compared to 2021.
• Full year net income was $368.6 million, an increase of 3.4% over the prior year GAAP net income and 8.0% over the prior year adjusted net income*. Full year EPS was $0.75 per diluted share, an increase from GAAP EPS of $0.72 and adjusted EPS* of $0.69 in the prior year.
• Operating cash flow was $465.9 million, increasing 16% compared to 2021.
• The Company invested $30.6 million in capital expenditures, $119.2 million in acquisitions and paid dividends totaling $211.6 million for the year. In 2021, the Company invested $27.2 million in capital expenditures, $146.1 million in acquisitions and paid dividends totaling $208.7 million.

Comments from Management

"Our fourth quarter results reflect the continued focus on execution by our team across our business", said Gary Rollins, Chairman. As we closed out 2022, we continued to see favorable demand for our services with very healthy growth across all major service lines. The team did an excellent job delivering a strong finish to the year. We have consistently grown revenue and 2022 represented another strong year for growth," Mr. Rollins said.

"Cash flow generation was strong, and our balance sheet positions us well to continue to drive growth through acquisitions while maintaining our balanced approach to capital allocation," Mr. Rollins said.

"As we start 2023, I warmly welcome Jerry Gahlhoff as our new CEO. With his deep industry and technical knowledge, outstanding leadership and steadfast focus on operations and service excellence, I have the utmost confidence in Jerry's abilities to grow our company and create value for all our stakeholders. I look forward to watching Jerry position Rollins for continued success in the future," said Mr. Rollins.

"I am honored and humbled to serve our company in the role of CEO. I have enormous gratitude for the winning tradition and legacy set forth by Gary Rollins and I plan to follow his precedent. I am very excited about opportunities to build on our stable foundation and accelerate our growth," said Mr. Gahlhoff.

"We are well positioned to continue to deliver strong results in 2023 and beyond. The demand environment remains healthy, and the team is focused on driving organic and inorganic growth while improving profitability through disciplined service delivery," Mr. Gahlhoff concluded.

About Rollins, Inc.:

Rollins, Inc. (ROL) is a premier global consumer and commercial services company.  Through its family of leading brands, the Company and its franchises provide essential pest control services and protection against termite damage, rodents, and insects to more than 2.8 million customers in North America, South America, Europe, Asia, Africa, and Australia, with more than 17,000 employees from more than 800 locations. Rollins is parent to Orkin, HomeTeam Pest Defense, Clark Pest Control, Northwest Exterminating, McCall Service, Trutech, Critter Control, Western Pest Services, Waltham Services, OPC Pest Services, The Industrial Fumigant Company, PermaTreat, Crane Pest Control, Missquito, Orkin Canada, Orkin Australia, Safeguard (UK), Aardwolf Pestkare (Singapore), and more. You can learn more about Rollins and its subsidiaries by visiting www.rollins.com.

*Amounts are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial metrics including a reconciliation of the most closely correlated GAAP measure.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Statements made in this press release and on our earnings call, may contain forward- looking statements that involve risks and uncertainties concerning the business and financial results of Rollins, Inc. We have based these forward-looking statements largely on our current opinions, expectations, beliefs, plans, objectives, assumptions and projections about future events and financial trends affecting the operating results and financial condition of our business. Such forward looking statements include, but are not limited to, statements regarding the Company's belief that its balance sheet positions the Company well to continue to drive growth through acquisitions while maintaining a balanced approach to capital allocation, management's confidence in the CEO's abilities to grow the Company, create value for all the stakeholders and position the Company for continued success in the future, opportunities to build on the Company's stable foundation and accelerate its growth, that the Company is well positioned to continue to deliver strong results in 2023 and beyond, and the Company's focus on driving organic and inorganic growth while improving profitability through disciplined service delivery.

Our actual results could differ materially from those indicated by the forward-looking statements because of various risks, timing and uncertainties including, without limitation, the failure to maintain and enhance our brands and develop a positive client reputation; our ability to protect our intellectual property and other proprietary rights that are material to our business and our brand recognition; actions taken by our franchisees, subcontractors or vendors that may harm our business; general economic conditions; the effects of a pandemic,  such as the COVID- 19 pandemic, or other major public health concern on the Company's business, results of operations, accounting assumptions and estimates and financial condition; adverse economic conditions, including, without limitation, market downturns, inflation and restrictions in customer discretionary expenditures, increases in interest rates or other disruptions in credit or financial markets, increases in fuel prices, raw material costs or other operating costs; potential increases in labor costs; labor shortages and/or our inability to attract and retain skilled workers; competitive factors and pricing practices; changes in industry practices or technologies; the degree of success of our termite process reforms and pest control selling and treatment methods; our ability to identify, complete and successfully integrate potential acquisitions; unsuccessful expansion into international markets; climate change and unfavorable weather conditions; a breach of data security resulting in the unauthorized access of personal, financial, proprietary, confidential or other personal data or information about our customers, employees, third parties, or of our proprietary confidential information; damage to our brands or reputation; new or proposed regulations regarding climate change; any noncompliance with, changes to, or increased enforcement of various government laws and regulations, including environmental regulations; possibility of an adverse ruling against us in pending litigation, regulatory action or investigation;; the adequacy of our insurance coverage to cover all significant risk exposures; the effectiveness of our risk management and safety program; general market risk; management's substantial ownership interest and its impact on public stockholders and the availability of the Company's common stock to the investing public; and the existence of certain anti-takeover provisions in our governance documents, which could make a tender offer, change in control or takeover attempt that is opposed by the Company's Board of Directors more difficult or expensive. All of the foregoing risks and uncertainties are beyond our ability to control, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. The Company does not undertake to update its forward-looking statements.

 

ROLLINS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (in thousands) (unaudited)
		December 31,			December 31,
		2022			2021
ASSETS
Cash and cash equivalents		$	95,346		$	105,301
Trade receivables, net			155,759			139,579
Financed receivables, short-term, net			33,618			26,152
Materials and supplies			29,745			28,926
Other current assets			34,151			52,422
Total current assets			348,619			352,380
Equipment and property, net			128,046			133,257
Goodwill			846,704			786,504
Customer contracts, net			298,559			301,914
Trademarks and tradenames, net			111,646			108,976
Other intangible assets, net			8,543			11,679
Operating lease right-of-use assets			277,355			244,784
Financed receivables, long-term, net			63,523			47,097
Other assets			39,033			34,949
Total assets		$	2,122,028		$	2,021,540
LIABILITIES
Accounts payable			42,796			44,568
Accrued insurance - current			39,534			36,414
Accrued compensation and related liabilities			99,251			97,862
Unearned revenues			158,092			145,122
Operating lease liabilities - current			84,543			75,240
Current portion of long-term debt			15,000			18,750
Other current liabilities			54,568			73,206
Total current liabilities			493,784			491,162
Accrued insurance, less current portion			38,350			31,545
Operating lease liabilities, less current portion			196,888			172,520
Long-term debt			39,898			136,250
Other long-term accrued liabilities			85,911			78,846
Total liabilities			854,831			910,323
STOCKHOLDERS' EQUITY
Common stock			492,448			491,911
Retained earnings and other equity			774,749			619,306
Total stockholders' equity			1,267,197			1,111,217
Total liabilities and stockholders' equity		$	2,122,028		$	2,021,540

 

Certain consolidated financial statement amounts relative to prior periods have been revised, the effects of which are immaterial. See the appendix to this release for a discussion of this revision including a reconciliation to the previous reported amounts.

 

ROLLINS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands except per share data) (unaudited)
		Three Months Ended						Year Ended
		December 31,						December 31,
		2022			2021			2022			2021
REVENUES
Customer services		$	661,390		$	600,343		$	2,695,823		$	2,424,300
COSTS AND EXPENSES
Cost of services provided (exclusive of depreciation and amortization below)			327,613			297,729			1,308,399			1,162,617
Sales, general and administrative			190,828			187,538			802,710			727,489
Depreciation and amortization			23,033			21,774			91,326			86,558
Total operating expenses			541,474			507,041			2,202,435			1,976,664
OPERATING INCOME			119,916			93,302			493,388			447,636
Interest expense (income), net			344			(504)			2,638			830
Other income, net			(2,997)			(2,081)			(8,167)			(35,679)
CONSOLIDATED INCOME BEFORE INCOME TAXES			122,569			95,887			498,917			482,485
PROVISION FOR INCOME TAXES			38,300			29,080			130,318			125,920
NET INCOME		$	84,269		$	66,807		$	368,599		$	356,565
NET INCOME PER SHARE - BASIC AND DILUTED		$	0.17		$	0.14		$	0.75		$	0.72
Weighted average shares outstanding - basic			492,344			492,041			492,300			492,054
Weighted average shares outstanding - diluted			492,457			492,041			492,413			492,054

 

Certain consolidated financial statement amounts relative to prior periods have been revised, the effects of which are immaterial. See the appendix to this release for a discussion of this revision including a reconciliation to the previous reported amounts.

 

ROLLINS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED CASH FLOW INFORMATION (in thousands) (unaudited)
		Three Months Ended						Year Ended
		December 31,						December 31,
		2022			2021			2022			2021
OPERATING ACTIVITIES
Net income		$	84,269		$	66,807		$	368,599		$	356,565
Depreciation and amortization			23,033			21,774			91,326			86,558
Change in working capital and other operating activities			16,090			14,313			6,005			(41,318)
Net cash provided by operating activities			123,392			102,894			465,930			401,805
INVESTING ACTIVITIES
Acquisitions, net of cash acquired			(8,770)			(106,406)			(119,188)			(146,098)
Capital expenditures			(7,707)			(7,163)			(30,628)			(27,194)
Other investing activities, net			5,714			3,500			15,675			74,327
Net cash used in investing activities			(10,763)			(110,069)			(134,141)			(98,965)
FINANCING ACTIVITIES
Net debt repayments			(70,000)			87,000			(100,000)			(48,000)
Payment of dividends			(63,982)			(88,979)			(211,618)			(208,656)
Other financing activities			(5,750)			(3,492)			(24,399)			(33,503)
Net cash used in financing activities			(139,732)			(5,471)			(336,017)			(290,159)
Effect of exchange rate changes on cash and cash equivalents			572			292			(5,727)			(5,857)
Net (decrease) increase in cash and cash equivalents		$	(26,531)		$	(12,354)		$	(9,955)		$	6,824

 

Certain consolidated financial statement amounts relative to prior periods have been revised, the effects of which are immaterial. See the appendix to this release for a discussion of this revision including a reconciliation to the previous reported amounts.

 

APPENDIX

Reconciliation of GAAP and non-GAAP Financial Measures

The Company has used the non-GAAP financial measures of organic revenues, adjusted EBITDA, adjusted net income and adjusted earnings per share ("EPS") in this earnings release, and the non-GAAP financial measures of organic revenues by type, and free cash flow in today's conference call. Organic revenue is calculated as revenue less acquisition revenue. Acquisition revenue is based on the trailing 12-month revenue of our acquired entities. These measures should not be considered in isolation or as a substitute for revenues, net income, earnings per share or other performance measures prepared in accordance with GAAP.

Management uses adjusted net income, adjusted EPS and adjusted EBITDA as measures of operating performance because these measures allow the Company to compare performance consistently over various periods without regard to the impact of the property disposition gains from the 2019 acquisition of Clark Pest Control of Stockton, Inc., and the settlement of the SEC matter. Management also uses organic revenues, and organic revenues by type to compare revenues over various periods excluding the impact of acquisitions. Management uses free cash flow, which is calculated as net cash provided by operating activities less capital expenditures, to demonstrate the Company's ability to maintain its asset base and generate future cash flows from operations. Management believes all of these non-GAAP financial measures are useful to provide investors with information about current trends in, and period-over-period comparisons of, the Company's results of operations.

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 non-GAAP financial measures used in today's earnings release and conference call with their most comparable GAAP measures.

 

(unaudited, in thousands except EPS)
		Three Months Ended											Year Ended
		December 31,											December 31,
								Variance											Variance
		2022			2021			$			%		2022			2021			$			%
Reconciliation of Net Income to Adjusted Net Income and EPS
Net income		$	84,269		$	66,807		$	17,462		26.1		$	368,599		$	356,565		$	12,034		3.4
Property disposition gains (net of tax $23,230)			—			—			—		—			—			(31,517)			31,517		—
SEC matter1			—			5,000			(5,000)		—			—			8,000			(8,000)		—
Adjusted income taxes on excluded items			—			—			—		—			—			8,287			(8,287)		—
Adjusted net income		$	84,269		$	71,807		$	12,462		17.4		$	368,599		$	341,335		$	27,264		8.0
Adjusted earnings per share - basic and diluted		$	0.17		$	0.15		$	0.02		13.3		$	0.75		$	0.69		$	0.06		8.7
Weighted average shares outstanding - basic			492,344			492,041			303		0.1			492,300			492,054			246		0.0
Weighted average shares outstanding - diluted			492,457			492,041			416		0.1			492,413			492,054			359		0.1
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Net income		$	84,269		$	66,807		$	17,462		26.1		$	368,599		$	356,565		$	12,034		3.4
Depreciation and amortization			23,033			21,774			1,259		5.8			91,326			86,558			4,768		5.5
Interest expense, net			344			(504)			848		(168.3)			2,638			830			1,808		217.8
Provision for income taxes			38,300			29,080			9,220		31.7			130,318			125,920			4,398		3.5
EBITDA			145,946			117,157			28,789		24.6			592,881			569,873			23,008		4.0
Property disposition gains			—			—			—		—			—			(31,517)			31,517		—
SEC matter			—			5,000			(5,000)		—			—			8,000			(8,000)		—
Adjusted EBITDA		$	145,946		$	122,157		$	23,789		19.5		$	592,881		$	546,356		$	46,525		8.5
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Net cash provided by operating activities		$	123,392		$	102,894		$	20,498		19.9		$	465,930		$	401,805		$	64,125		16.0
Capital expenditures			(7,707)			(7,163)			(544)		(7.6)			(30,628)			(27,194)			(3,434)		(12.6)
Free cash flow		$	115,685		$	95,731		$	19,954		20.8		$	435,302		$	374,611		$	60,691		16.2

1These amounts were not tax deductible for state or federal purposes.

 

Certain consolidated financial statement amounts relative to prior periods have been revised, the effects of which are immaterial. See the appendix to this release for a discussion of this revision including a reconciliation to the previous reported amounts.

 

(unaudited, in thousands)
		Three Months Ended											Year Ended
		December 31,											December 31,
								Variance
		2022			2021			$			%		2022			2021			$			%
Reconciliation of Revenues to Organic Revenues
Revenues		$	661,390		$	600,343			61,047		10.2		$	2,695,823		$	2,424,300			271,523		11.2
Revenue growth from acquisitions			(19,743)			—			(19,743)		—			(81,491)			—			(81,491)		—
Organic revenues		$	641,647			600,343			41,304		6.9		$	2,614,332			2,424,300			190,032		7.8
Reconciliation of Residential Revenues to Organic Residential Revenues
Residential revenues		$	290,043		$	267,816			22,227		8.3		$	1,212,491		$	1,103,687			108,804		9.9
Residential revenues from acquisitions			(11,057)			—			(11,057)		—			(46,874)			—			(46,874)		—
Residential organic revenues		$	278,986		$	267,816			11,170		4.2		$	1,165,617		$	1,103,687			61,930		5.7
Reconciliation of Commercial Revenues to Organic Commercial Revenues
Commercial revenues		$	231,091		$	211,213			19,878		9.4		$	914,839		$	829,396			85,443		10.3
Commercial revenue growth from acquisitions			(3,855)			—			(3,855)		—			(13,713)			—			(13,713)		—
Commercial organic revenues		$	227,236		$	211,213			16,023		7.6		$	901,126		$	829,396			71,730		8.6
Reconciliation of Termite Revenues to Organic Termite Revenues
Termite revenues		$	130,699		$	114,262			16,437		14.4		$	536,854		$	465,053			71,801		15.4
Termite revenues from acquisitions			(4,831)			—			(4,831)		—			(20,904)			—			(20,904)		—
Termite organic revenues		$	125,868		$	114,262			11,606		10.2		$	515,950		$	465,053			50,897		10.9
		Three Months Ended											Year Ended
		December 31,											December 31,
								Variance
		2021			2020			$			%		2021			2020			$			%
Reconciliation of Revenues to Organic Revenues
Revenues		$	600,343		$	536,292			64,051		11.9		$	2,424,300		$	2,161,220			263,080		12.2
Revenue growth from acquisitions			(15,910)			—			(15,910)		—			(58,587)			—			(58,587)		—
Organic revenues		$	584,433			536,292			48,141		8.9		$	2,365,713			2,161,220			204,493		9.5
Reconciliation of Residential Revenues to Organic Residential Revenues
Residential revenues		$	267,816		$	239,311			28,505		11.9		$	1,103,687		$	977,470			126,217		12.9
Residential revenues from acquisitions			(8,429)			—			(8,429)		—			(28,130)			—			(28,130)		—
Residential organic revenues		$	259,387		$	239,311			20,076		8.4		$	1,075,557		$	977,470			98,087		10.0
Reconciliation of Commercial Revenues to Organic Commercial Revenues
Commercial revenues		$	211,213		$	189,572			21,641		11.4		$	829,396		$	752,349			77,047		10.2
Commercial revenue growth from acquisitions			(3,949)			—			(3,949)		—			(20,748)			—			(20,748)		—
Commercial organic revenues		$	207,264		$	189,572			17,692		9.3		$	808,648		$	752,349			56,299		7.4
Reconciliation of Termite Revenues to Organic Termite Revenues
Termite revenues		$	114,262		$	100,593			13,669		13.6		$	465,053		$	406,782			58,271		14.3
Termite revenues from acquisitions			(3,532)			—			(3,532)		—			(9,709)			—			(9,709)		—
Termite organic revenues		$	110,730		$	100,593			10,137		10.1		$	455,344		$	406,782			48,562		11.9

 

Certain consolidated financial statement amounts relative to prior periods have been revised, the effects of which are immaterial, to correct the Company's application of Accounting Standards Codification ("ASC") 805, "Business Combinations," with respect to certain acquisitions occurring between 2012 and 2019, which resulted in adjustments to the fair values of customer contracts and contingent consideration related to these acquisitions. The Company assessed the materiality of this correction to prior periods' consolidated financial statements in accordance with Securities and Exchange Commission Staff Accounting Bulletin ("SAB") No. 99, "Materiality," SAB 108, "Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements," and "Presentation of Financial Statements," codified in ASC 250. The Company concluded that the correction was not material to prior periods and therefore, amendments of previously filed reports are not required. In accordance with ASC 250, the Company corrected prior periods presented herein by revising the financial statement line item amounts previously issued in SEC filings. The impact of this revision on the Company's previously reported condensed consolidated financial statements is as follows:

 

(unaudited, in thousands except EPS)
		At December 31, 2021
		As reported			Adjustment			As revised
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Goodwill		$	721,819		$	64,685		$	786,504
Customer contracts, net			325,929			(24,015)			301,914
Total assets			1,980,870			40,670			2,021,540
Other long-term accrued liabilities			67,345			11,501			78,846
Total liabilities			898,822			11,501			910,323
Retained earnings and other equity			590,137			29,169			619,306
Total stockholders' equity			1,082,048			29,169			1,111,217
Total liabilities and stockholders' equity			1,980,870			40,670			2,021,540
		Three Months Ended									Year Ended
		December 31, 2021									December 31, 2021
		As reported			Adjustment			As revised			As reported			Adjustment			As revised
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
COSTS AND EXPENSES
Depreciation and amortization			23,686			(1,912)			21,774			94,205			(7,647)			86,558
Total operating expenses			508,953			(1,912)			507,041			1,984,311			(7,647)			1,976,664
Operating income			91,390			1,912			93,302			439,989			7,647			447,636
Consolidated income before income taxes			93,975			1,912			95,887			474,838			7,647			482,485
Provision for income taxes			28,638			442			29,080			124,151			1,769			125,920
Net income			65,337			1,470			66,807			350,687			5,878			356,565
Net income per share - basic and diluted			0.13			0.01			0.14			0.71			0.01			0.72
		Three Months Ended									Year Ended
		December 31, 2021									December 31, 2021
		As reported			Adjustment			As revised			As reported			Adjustment			As revised
CONDENSED CONSOLIDATED CASH FLOW INFORMATION
OPERATING ACTIVITIES
Net income		$	65,337		$	1,470		$	66,807		$	350,687		$	5,878		$	356,565
Depreciation and amortization			23,686			(1,912)			21,774			94,205			(7,647)			86,558
Change in working capital and other operating activities			13,871			442			14,313			(43,087)			1,769			(41,318)
Net cash provided by operating activities			102,894			—			102,894			401,805			—			401,805

 

CONFERENCE CALL ANNOUNCEMENT

Rollins, Inc.
(NYSE: ROL)

Management will hold a conference call to discuss
Fourth Quarter 2022 results on

Thursday, February 16, 2023 at:
8:30 a.m. Eastern
7:30 a.m. Central
6:30 a.m. Mountain
5:30 a.m. Pacific

TO PARTICIPATE:
Please dial 1-877-869-3839 domestic;
1-201-689-8265 international
with conference ID of 13735127
at least 5 minutes before start time.

REPLAY: available through February 23, 2023
Please dial 1-877-660-6853 / 1-201-612-7415, Passcode 13735127
THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT

www.rollins.com

Questions?
Contact Samantha Alphonso at Financial Relations Board at 212-827-3746
Or email to salphonso@mww.com

 

For Further Information Contact
Julie Bimmerman (404) 888-2103

View original content:https://www.prnewswire.com/news-releases/rollins-inc-reports-fourth-quarter-2022-financial-results-301748098.html

SOURCE Rollins, Inc.

FAQ

What were Rollins' Q4 2022 earnings results?

In Q4 2022, Rollins reported revenues of $661.4 million, net income of $84.3 million, and EPS of $0.17.

How did Rollins perform in 2022 compared to 2021?

Rollins achieved an 11.2% increase in full-year revenues, totaling $2,695.8 million, and a net income increase of 3.4%.

What is Rollins' guidance for 2023?

Rollins indicated a strong demand environment and plans to focus on organic and inorganic growth while improving profitability.

How much did Rollins invest in acquisitions in 2022?

In 2022, Rollins invested $119.2 million in acquisitions.

What are the key financial metrics for Rollins in Q4 2022?

Key metrics include Q4 revenues of $661.4 million, operating income of $119.9 million, and adjusted EBITDA of $145.9 million.