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Terminix Global Holdings and Rentokil Initial have announced a definitive agreement for Rentokil to acquire Terminix, valued at $6.7 billion. The deal combines two leading pest control companies, creating a global leader in pest management with a significant footprint in North America. Shareholders will receive $55 per Terminix share—a 47% premium. The transaction aims to generate $150 million in annual pre-tax synergies and enhance long-term growth potential. Following completion, Terminix shareholders will own approximately 26% of the combined entity.
Terminix Global Holdings, Inc. (NYSE: TMX) reported third-quarter 2021 results showing 4% revenue growth to $530 million, bolstered by 2% from acquisitions. The company's net income rose to $38 million with a margin of 7.2%, and adjusted EBITDA reached $102 million, maintaining a margin of 19.2%. Strong performance in termite renewals and eight completed acquisitions contributed significantly to growth. However, increased medical expenses and challenges from staffing shortages noted.
Terminix Global Holdings (NYSE: TMX) will release its unaudited third-quarter 2021 financial results on November 2, 2021, at 6 a.m. CT. A conference call with CEO Brett Ponton, CFO Bob Riesbeck, and Treasurer Jesse Jenkins will follow at 8 a.m. CT to discuss the company's operational performance and financial outcomes for the quarter ending September 30, 2021. Additionally, the call will be available for replay until December 2, 2021.
Terminix Global Holdings (NYSE: TMX) has released its annual list of the top 50 most rodent-infested cities in America, with Los Angeles taking the top spot. Other cities in the top five include New York City, Philadelphia, San Francisco, and Dallas-Ft. Worth. The rankings were based on the number of rodent-related service requests received over the past year. As colder weather approaches, the risk of rodent infestations increases, prompting Terminix to emphasize the importance of pest control services.
Terminix Global Holdings (NYSE: TMX) has been ranked #4 in
Terminix Global Holdings (NYSE: TMX) announced the resignation of Chief Operating Officer Kim Scott, who has accepted another job opportunity. As part of a strategy to streamline operations, sales, marketing, and field operations will now report directly to CEO Brett Ponton. Scott joined the company in December 2019, and her leadership was noted for enhancing customer retention and operational improvements during a challenging period.
The company will report Q3 earnings in early November and has reaffirmed its full-year 2021 guidance.
Terminix Global Holdings (NYSE: TMX) launches Terminix Cares Week 2021, a community service initiative involving thousands of employees volunteering across the U.S. and Canada. The week supports 15 national and 11 local partners addressing critical issues such as health, hunger, and social justice. Utilizing a mobile app, employees track their steps to generate donations for 26 charities. This program continues from Terminix Caring Steps, established during the COVID-19 pandemic, and encourages both employees and customers to give back.
Terminix Global Holdings (TMX) reported second-quarter 2021 results, achieving a 5% year-over-year revenue increase to $560 million. Income from continuing operations rose 35% to $54 million, with adjusted net income of $66 million, or $0.51 per share. Strong performance in commercial pest management and improvements in residential service were noted. Terminix maintains its 2021 outlook with an expected revenue growth of 3-4% and adjusted EBITDA between $380 million and $390 million, despite anticipated pressure from the labor market.
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