Rollins Reports 2023 Revenue Growth of 14 Percent

ATLANTA - On Wednesday, Rollins reported financial results for the fourth quarter and full year of 2023.

Rollins reported that for the fourth quarter of 2023 the company's revenues increased 14 percent to $754 million.

For 2023, revenues also increased by 14 percent to $3.1 billion, which included organic revenues increasing by 8 percent and acquisition-related revenues increasing by nearly 6 percent.

In forecasting 2024, Rollins noted that the underlying health of core pest control markets, as well as Rollins' ongoing commitment to operational execution, should support another year of strong organic growth, further complemented by a strategic and disciplined approach to acquisitions.

"Our team delivered a strong finish in the fourth quarter as we achieved record revenue and a healthy margin profile for the full year," said Jerry Gahlhoff, Jr., president and CEO, Rollins. "Organic growth remains strong while we continue to be active on the acquisition front. As we look to 2024, demand for our services is solid and our pipeline for acquisitions is robust. We are well positioned for continued growth and remain focused on continuous improvement initiatives to enhance profitability across our business."

Kenneth Krause, executive vice president, CFO and treasurer, added, "It was encouraging to see the strong quarterly and full year growth in revenue, cash flow and profitability. We delivered double-digit revenue and cash flow growth, as well a 70 basis point improvement in operating margins for 2023. Additionally, we continued to execute a balanced capital allocation program, deploying nearly $1 billion of capital in 2023, with a focus on investing for growth while returning cash to shareholders through a growing dividend and share repurchases." 

Source: Rollins.com