The total U.S. William Blair/PCO Bookkeepers & M&A Specialists Pest Index increased 14 percent year-over-year in February 2024, up from 12 percent growth in January. The long-term historical growth rate of the total pest index is 11 percent.
“February’s results were surprisingly strong, as growth in both the residential and commercial pest indices accelerated from January,” says William Blair Equity Researcher Tim Mulrooney. “February did have a slightly easier comparison with last year, which may have contributed to the pickup. Regardless, February’s results indicate a healthy start to the year. This is in line with recent commentary from Rollins, which expects another strong year of organic growth in 2024. February’s results are in stark contrast to recent commentary from Rentokil, which expects organic growth of only 2% in the first quarter.”
Dan Gordon, managing member of PCO Bookkeepers & M&A Specialists, said “While the economy is in flux, it appears that good quality companies that provide best-in-class sales and service will excel in terms of growth and profitability.”
The February results by segment include:
- The Residential Pest Index increased 16 percent year-over-year.
- The Commercial Pest Index increased 18 percent year-over-year.
- The Termite Index increased 6 percent year-over-year.
- The Bed Bug Index increased 9 percent year-over-year.
- The Mosquito Index increased 11 percent year-over-year.