Rollins Reports Q3 Revenues Up 11.4% Over Prior Year's Third Quarter Revenues

 

The company recorded third quarter revenues of $650.2 million, an increase of 11.4% over the prior year's third quarter revenue of $583.7 million. Rollins' reported net income was $93.9 million or $0.19 per diluted share for the third quarter ended September 30, 2021, compared to $79.6 million or $0.16 per diluted share for the same period in 2020.

 

Rollins' revenues rose 12.2% for the first nine months of 2021 to $1.824 billion compared to $1.625 billion for the prior year. Net income for the first nine months of 2021 was $285.4 million or $0.58 per diluted share compared to $198.2 million or $0.40 per diluted share for the same period last year. Adjusted net income* and adjusted earnings per diluted share* for the nine months ended September 30, 2021 were $262.1 million or $0.53, respectively, compared to $204.9 million or $0.42 per diluted share for the same period last year.

 

The company, as planned and previously disclosed, disposed of the majority of the properties received through the 2019 acquisition of Clark Pest Control of Stockton, Inc. The gain related to the disposition of these properties in the nine months ended September 30, 2021 was $31.5 million pre-tax. The third quarter and nine months ended September 30, 2020 included a one-time non-cash expense of $6.7 million for the accelerated restricted stock vesting for our late Chairman, R. Randall Rollins.