Rollins Reports Q3 Revenues Up 15 Percent YOY

ATLANTA - Rollins reported third-quarter revenues of $840 million, marking a 15.2 percent increase over the third quarter of 2022. The company's operating income for the quarter was $177 million, a 21.8 percent increase over the same period in the previous year. The operating margin was 21.1 percent of revenue, an increase of 120 basis points over Q3 2022.

 

Jerry Gahlhoff, Jr., president and CEO of Rollins, said, "The team delivered a strong third quarter with record revenue and an improving margin profile. As we look to close out 2023, we are well positioned for continued growth, both organically, as well as through acquisitions, and remain focused on continuous improvement initiatives to enhance profitability across our business."

 

Kenneth Krause, executive vice president, CFO and treasurer of Rollins, added, "It was encouraging to see the strong growth in revenue and profitability in the quarter, as the team delivered double-digit revenue growth and 150 basis points of improvement in adjusted EBITDA margins. Additionally, we continued to execute a very balanced capital allocation program with a focus on investing for growth while returning cash to shareholders through a growing dividend and a share repurchase program."