MEMPHIS, Tenn. — ServiceMaster, parent company of Terminix, reported Q3 revenue of $930.9 million, up from $919 million in Q3 2010.
In an article in The Daily Times, ServiceMaster CEO Hank Mullany said the company is focusing on three strategies. "No. 1, growth. We want to be a rapidly growing, best-in-class service provider. Our second strategy involves talent evaluation and development. Third, we’re developing what I like to call a culture of executional excellence. As I’ve said before, underlying all of our efforts is our mission – to simplify and improve our customers’ lives.”
ServiceMaster serves 8.2 million customers a year in 22 countries, via 6,900 facilities and 24,000 associates, plus another 31,000 employed by ServiceMaster franchises.
Among its other Q3 results, the company reported its cost of services rendered and products sold at $517.8 million for Q3, compared to $505.3 million for the same period in 2010. Those costs increased as a percentage of revenue partly because of increased contract claims costs at American Home Shield, the impact of higher fertilizer prices at TruGreen and the $3 million impact of increased fuel prices.
Selling and administrative expenses were $245.9 million for Q3, down from $260.5 million for Q3 2010. That drop is partly the result of reduced sales and marketing spending at TruGreen, a $3.5 million drop in legal-related expenses at American Home Shield, reduced spending in the company’s headquarters functions, a $3.3 million drop in certain executive transition charges, a $2.1 million drop in provisions for incentive compensation and a $2.3 million drop in other compensation charges.
Source: The Daily Times