Secret Site Map
Tuesday, July 29, 2014

Home News ServiceMaster Reports Q1 Financial Results

ServiceMaster Reports Q1 Financial Results

News Coverage

The parent company of Terminix reported first-quarter 2014 revenue and Adjusted EBITDA growth versus prior year.

| May 12, 2014

MEMPHIS, Tenn. - The ServiceMaster Company announced preliminary unaudited first-quarter 2014 results. The company reported first-quarter 2014 revenue of $533 million, an increase of approximately 4 percent compared to the same period in 2013.

The company reported a first-quarter 2014 loss from continuing operations of $18 million, versus income from continuing operations of $6 million for the first quarter of 2013. Adjusted income from continuing operations for the first quarter of 2014 was $11 million, excluding a $48 million ($29 million net of tax), non-cash asset impairment charge related to the decision to abandon the deployment of a new operating system for American Home Shield.

The company reported first-quarter 2014 Adjusted EBITDA of $115 million, an increase of $12 million compared to the same period in 2013. The increase was primarily driven by the impact of higher revenue and the transition of certain costs in the first quarter of 2014 to TruGreen, which the company spun-off on January 14, 2014. A reconciliation of net loss to Adjusted EBITDA is set forth below in this press release.

"We're pleased that Terminix, American Home Shield and the Franchise Services Group all reported first-quarter 2014 revenue and Adjusted EBITDA growth versus prior year," said Rob Gillette, ServiceMaster's chief executive officer.

Top news

Cook’s Open House Showcases State-of-the-Art Training Facilities

Residential and commercial training centers provide hands-on educational opportunities in a “real-world” setting for technicians and sales personnel.

Arrow Exterminators Acquires Alchemy Pest Control

Alchemy is based in Raleigh, N.C., and serves the greater Raleigh-Durham area and surrounding communities.

Canada's Bed Bug Problem Worsening, Experts Say

Bed bugs are multiplying in record numbers in cities and smaller communities across Canada, CTN News reports.

'Super Ants' Discovered in London

An invasion of super ants that are attracted to electricity is feared to be spreading across the south of the country after a large nest was discovered in a house in London, metro.co.uk reports.

Bed Bugs Turn Up in Senate Office Building

The pests were found on the sixth floor of the Dirksen building last week, causing officials to take emergency measures such as closing off a restroom for a couple of days with yellow police tape, the Daily Caller reports.