Exhibit 99.1

 

  For Further Information Contact
  Eddie Northen (404) 888-2242

 

 

FOR IMMEDIATE RELEASE

 

 

ROLLINS, INC. REPORTS THIRD QUARTER AND NINE MONTHS 2018 FINANCIAL RESULTS

Company posts 50th consecutive quarter of improved revenues and earnings

ATLANTA, GEORGIA, October 24, 2018:

Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, reported unaudited financial results for its third quarter and nine months ended September 30, 2018.

 

The Company recorded third quarter revenues of $487.7 million, an increase of 8.3% over the prior year’s third quarter revenue of $450.4 million. Rollins’ net income increased 29.6% to $66.6 million or $0.31 per diluted share for the third quarter ended September 30, 2018, compared to $51.4 million or $0.24 per diluted share for the same period in 2017.

 

Rollins’ revenues rose 9.3% for the first nine months of 2018 to $1.377 billion compared to $1.259 billion for the prior year. Net income for the first nine months of 2018 was $180.7 million or $0.83 per diluted share, an increase of 24.3%, or $0.16 per diluted share compared to $145.4 million or $0.67 per diluted share for the same period last year.

 

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, “We are pleased to have completed our 50th consecutive quarter of improved revenue and earnings. The weather in some of the eastern U.S. was very challenging; however, our people took extreme measures to provide services to most of those customers impacted. We are so proud of our team and their willingness to go the extra mile.

 

On August 10, we celebrated our company's 50th year on the New York Stock Exchange. This was an especially historic occasion since our Chairman, R. Randall Rollins, and Lead Director, Henry B. Tippie were on hand at the initial listing, and for this anniversary. I want to thank them, our employees and shareholders for their support and contribution to our success during those past 50 years.

 

Rollins, Inc. is a premier global consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Orkin Canada, Western Pest Services, Northwest Exterminating, Critter Control, Inc., The Industrial Fumigant Company, Trutech LLC., Orkin Australia, Waltham Services LLC., OPC Pest Services, PermaTreat, Rollins UK, Aardwolf Pestkare, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, Mexico, and Australia from more than 700 locations. You can learn more about Rollins and its subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.orkincanada.ca, www.westernpest.com, www.callnorthwest.com, www.crittercontrol.com, www.indfumco.com, www.trutechinc.com, www.orkinau.com, www.allpest.com.au, www.walthamservices.com, www.opcpest.com, www.permatreat.com, www.cranepestcontrol.com, www.murraypestcontrol.com.au, www.statewidepestcontrol.com.au, www.safeguardpestcontrol.co.uk, www.aardwolfpestkare.com and www.rollins.com. You can also find this and other news releases at www.rollins.com by accessing the news releases button.

 

 

   

 

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including without limitation, economic and competitive conditions which may adversely affect the Company’s business; the degree of success of the Company’s pest and termite process, and pest control selling and treatment methods; the Company’s ability to identify and integrate potential acquisitions; climate and weather trends; competitive factors and pricing practices; the Company’s ability to attract and retain skilled workers, and potential increases in labor costs; uncertainties of litigation; and changes in various government laws and regulations, including environmental regulations. All of the foregoing risks and uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. A more detailed discussion of potential risks facing the Company can be found in the Company’s Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2017.

 

ROL-Fin

 

 

 

   

 

ROLLINS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in thousands)
       

At September 30, (unaudited)  2018  2017
ASSETS          
Cash and cash equivalents  $118,652   $113,396 
Trade accounts receivables, net   122,375    110,325 
Financed receivables, net   20,384    17,208 
Materials and supplies   16,093    15,380 
Other current assets   25,576    26,617 
Total Current Assets   303,080    282,926 
Equipment and property, net   136,857    132,865 
Goodwill   365,480    372,924 
Customer contracts   185,477    141,385 
Trademarks & Tradenames   53,850    35,196 
Other intangible assets, net   11,587    10,777 
Financed receivables, long-term, net   26,882    18,995 
Deferred income taxes, net   5,863    32,491 
Prepaid pension   19,522    —   
Other assets   20,975    18,968 
    Total Assets  $1,129,573   $1,046,527 
LIABILITIES          
Accounts payable  $29,991   $36,195 
Accrued insurance, current   27,722    27,830 
Accrued compensation and related liabilities   73,829    75,087 
Unearned revenue   123,916    118,950 
Other current liabilities   53,923    50,724 
Total Current Liabilities   309,381    308,786 
Accrued insurance, less current portion   33,883    34,014 
Accrued pension   58    1,759 
Long-term accrued liabilities   51,493    51,529 
Total Liabilities   394,815    396,088 
STOCKHOLDERS’ EQUITY          
Common stock   218,212    217,975 
Retained earnings and other equity   516,546    432,464 
Total stockholders’ equity   734,758    650,439 
Total Liabilities and Stockholders’ Equity  $1,129,573   $1,046,527 

 

 

 

   

 

ROLLINS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands except per share data)
(unaudited)
               

   Three Months Ended  Nine Months Ended
   September 30,  September 30,
   2018  2017  2018  2017
REVENUES            
Customer services  $487,739   $450,442   $1,376,942   $1,259,244 
COSTS AND EXPENSES                    
Cost of services provided   236,287    218,781    673,202    612,424 
Depreciation and amortization   16,867    14,313    50,149    41,630 
Sales, general and administrative   145,072    134,932    414,938    379,753 
Gain on sale of assets, net   (314)   (66)   (678)   (179)
Interest expense / (income), net   (63)   (79)   70    (342)
    397,849    367,881    1,137,681    1,033,286 
INCOME BEFORE INCOME TAXES   89,890    82,561    239,261    225,958 
PROVISION FOR INCOME TAXES   23,262    31,131    58,566    80,569 
NET INCOME  $66,628   $51,430   $180,695   $145,389 
NET INCOME PER SHARE - BASIC AND DILUTED  $0.31   $0.24   $0.83   $0.67 
Weighted average shares outstanding - basic and diluted   218,214    217,988    218,188    217,987 

 

 

 

 

 

   

 

(( CONFERENCE CALL ANNOUNCEMENT ((

Rollins, Inc.

(NYSE: ROL)

 

Management will hold a conference call to discuss

Third Quarter 2018 results on

 

Wednesday, October 24, 2018 at:

10:00 a.m. Eastern

9:00 a.m. Central

8:00 a.m. Mountain

7:00 a.m. Pacific

 

TO PARTICIPATE:

Please dial 855-719-5012 domestic;

334-323-0522 international
at least 5 minutes before start time.

 

REPLAY: available through October 31, 2018

Please dial 888-203-1112/719-457-0820, Passcode 2143746

THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT

www.viavid.com

 

Questions?

Contact Samantha Alphonso at Financial Relations Board at 212-827-3746

Or email to salphonso@mww.com

 

 

 

   


The following information was filed by Rollins Inc (ROL) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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