TMX - TMX STOCK NEWS

Terminix Global Holdings, Inc. (NYSE: TMX) has divested its pest management businesses in the U.K. and Norway to Norvestor VIII SCSp, a private equity fund. The sale is expected to result in a loss for Terminix in the quarter ending June 30, 2022. These businesses were projected to generate around $60 million in revenue and under $10 million in Adjusted EBITDA for 2022. The divestment fulfills conditions for the ongoing merger with Rentokil Initial plc, which remains on track for completion in the latter half of 2022.

Terminix Global Holdings, Inc. (NYSE: TMX) has announced the divestment of its pest management businesses in the U.K. and Norway, a prerequisite for its merger with Rentokil Initial plc. The divestment is anticipated to close within 30 to 60 days, with Terminix expecting a loss from the sale by June 30, 2022. Together, these businesses were projected to generate around $60 million in revenue and less than $10 million in Adjusted EBITDA for the full year 2022. The merger remains on schedule for completion in the second half of 2022, pending shareholder approvals.

Terminix Global Holdings, Inc. (TMX) reported a 5% revenue growth in Q1 2022, reaching $496 million. Organic revenue growth was 4%, with termite and home services showing a robust 6% growth. Despite a $8 million decrease in net income to $19 million, adjusted net income rose 3% to $42 million. Key investments in staff and labor are driving growth, while the acquisition by Rentokil remains on track for the second half of 2022. The company does not plan to offer full-year guidance due to the pending merger.

Terminix Global Holdings (NYSE: TMX) will release its unaudited first-quarter 2022 financial results on May 5, 2022 at 6 a.m. CT (7 a.m. ET). A conference call will follow at 8 a.m. CT (9 a.m. ET) with CEO Brett Ponton and CFO Bob Riesbeck discussing operational performance. Participants can join via phone or webcast. The call will be available for replay until June 4, 2022. Terminix provides pest control services, serving over 2.9 million customers globally.

Rentokil Initial plc announced the expiration of the Hart-Scott-Rodino waiting period as of March 14, 2022, paving the way for its acquisition of Terminix Global Holdings (NYSE:TMX). This is a key regulatory step in the agreement first reported on December 14, 2021. The transaction aims to form a leading pest control entity, enhancing Rentokil's market presence in North America, which represents the largest pest control market globally. The combined revenue for the anticipated group is projected at approximately US$6.0 billion, with EBITDA of US$1.3 billion.

Terminix Global Holdings (TMX) reported a 5% increase in fourth-quarter revenue to $484 million, driven by 3% organic growth. The company faced a net income decline to $7 million from $484 million in the same quarter last year, largely due to a prior asset sale's impact. Adjusted EBITDA rose by $4 million to $73 million. Full-year revenue increased by 4% to $2.045 billion. The planned merger with Rentokil is set to enhance commercial capabilities, although it limits 2022 guidance disclosure.

Terminix Global Holdings (NYSE: TMX) will release its unaudited fourth-quarter and full-year 2021 financial results on March 1, 2022, at 6 a.m. CT. The company will hold a conference call, featuring CEO Brett Ponton and CFO Bob Riesbeck, at 8 a.m. CT to discuss the results. Individuals can join the call by dialing 800.908.8951. The call will also be available via webcast on the company’s investor relations page. Terminix operates with over 11,500 employees and serves 2.9 million customers across 24 locations, emphasizing its role in pest management.

Terminix Global Holdings (NYSE: TMX) has appointed Dr. Cassie Krejci as the new director of Technical Services. Dr. Krejci, who holds a Ph.D. in Entomology, brings valuable field experience and research expertise to the team. Her role will focus on enhancing technician efficiency and optimizing materials for pest management services. The CEO, Brett Ponton, expressed confidence that Dr. Krejci's extensive background will benefit Terminix's service quality and customer relationships.

Terminix Global Holdings (NYSE: TMX) has launched a new, state-of-the-art website aimed at enhancing the digital experience for customers. This redesign allows users to explore pest control options and purchase services online, utilizing content contributed by on-staff entomologists. The site features improved SEO, interactive elements, and a responsive mobile design, aimed at increasing sales efficiency. The CEO and CMO emphasize the commitment to exceptional customer experiences and tracking customer interests for better service.