Pest Index Increased Seven Percent YOY in August

The total U.S. William Blair/PCO Bookkeepers & M&A Specialists Pest Index increased 7 percent year-over-year in August 2024, decelerating from a strong 14 percent result in July. The August results are below the long-term average index growth rate of 10 percent.

“The deceleration in August was driven primarily by the indices with consumer-based exposure, namely the residential index and the termite index,” said William Blair Equity Researcher Tim Mulrooney. “The commercial index continues to show strong performance year-to-date.

The month of August had one less working day in 2024 relative to last year. Excluding this headwind, Mulrooney estimates August results would have been in line with the long-term historical average.

Dan Gordon, managing member of PCO Bookkeepers & M&A Specialists, said, “It’s been an interesting year. It appears the consumer is getting defensive on discretionary items, but the need for essential services is still intact. I think when the year shakes out after December, we’ll look back on 2024 as year of average growth.”

The month’s results by segment include:

· The Residential Pest Index increased 5 percent year-over-year.
· The Commercial Pest Index increased 13 percent year-over-year.
· The Termite Index increased 2 percent year-over year.
· The Bed Bug Index increased 4 percent year-over-year.
· The Mosquito Index increased 10 percent year-over-year