Rollins' 2024 Second Quarters Revenues up 8.7 Percent YOY

ATLANTA -  Rollins announced second quarter revenues were $892 million, an increase of 8.7% over the second quarter of 2023 with organic revenues* increasing 7.7%.

Other highlights included:

• Quarterly operating income was $182 million, an increase of 17.8% over the second quarter of 2023. Quarterly operating margin was 20.4%, an increase of 150 basis points over the second quarter of 2023. Adjusted operating income* was $187 million, an increase of 16.6% over the prior year. Adjusted operating income margin* was 20.9%, an increase of 140 basis points over the prior year.
  
• Adjusted EBITDA* was $210 million, an increase of 15.3% over the prior year. Adjusted EBITDA margin* was 23.6%, an increase of 140 basis points over the second quarter of 2023.
• Quarterly net income was $129 million, an increase of 17.5% over the prior year. Adjusted net income* was $132 million, an increase of 16.7% over the prior year.
• Quarterly EPS was $0.27 per diluted share, a 22.7% increase over the prior year EPS of $0.22. Adjusted EPS* was $0.27 per diluted share, an increase of 17.4% over the prior year.
• Operating cash flow was $145 million for the quarter. The Company invested $35 million in acquisitions, $9 million in capital expenditures, and paid dividends totaling $73 million.
  

"Our team delivered a strong second quarter with organic growth of 7.7 percent and an improving margin profile," said Jerry Gahlhoff, Jr., president and CEO, Rollins. "Demand for our services remains strong and our pipeline for acquisitions is robust. Our results through the first six months of the year position us to deliver another year of healthy growth in 2024 and we are focused on continuous improvement to enhance profitability across our business. I would like to thank our team for their ongoing commitment to our customers."

"It was encouraging to see solid performance in revenue and profitability in the quarter," said Kenneth Krause, executive vice president and CFO, Rollins. "In addition to the growth Jerry mentioned, our team delivered strong improvement in margins, with a 140 basis point improvement in EBITDA margins and a strong incremental EBITDA margin performance. We continue to invest in our team and other resources aimed at capitalizing on a healthy market environment to drive further growth in our business." Source: Rollins Earnings Report