Pest Index Up 8 Percent Year Over Year in March

The total U.S. William Blair/PCO Bookkeepers & M&A Specialists Pest Index increased 8 percent year-over-year in March 2024, down from 14 percent growth in February. For the first quarter, the total pest index increased 11 percent year-over-year, similar to the result observed in the fourth quarter of 2023. The long-term historical growth rate of the total pest index is 11 percent.

“March’s results were softer than expected, particularly following a strong reading in February,” says William Blair Equity Researcher Tim Mulrooney. “Based on Rentokil’s first-quarter results and management commentary, we believe the Easter holiday (which typically falls during early April versus late March) may have been a contributing factor to the softer index reading. Rentokil noted encouraging lead volumes through the first two weeks of April.”

Dan Gordon, managing member of PCO Bookkeepers & M&A Specialists, adds, “While the growth seems to be down off of prior months, it still far exceeds the growth in the overall U.S. economy. That said, we usually look to see how sales look after the spring and summer selling season.”

The February results by segment include:  

• The Residential Pest Index increased 11 percent year-over-year.
• The Commercial Pest Index increased 11 percent year-over-year.
• The Termite Index was flat year-over-year.
• The Bed Bug Index decreased 7 percent year-over-year.
• The Mosquito Index decreased 28 percent year-over-year.

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