MEMPHIS, Tenn. —ServiceMaster Global Holdings, Inc., a leading provider of essential residential and commercial services, today announced the following preliminary revenue, net income, Adjusted net income and Adjusted EBITDA for the third-quarter 2016 financial results and updates to full-year 2016 outlook. The company plans to release its full third-quarter 2016 financial results on Tuesday, October 25, 2016.
The company’s net income, Adjusted net income and Adjusted EBITDA were negatively impacted by a $5 million increase in claims costs at American Home Shield (“AHS”) associated with a higher number of HVAC work orders driven by record high temperatures experienced nationwide during the quarter. Due to the adverse impact of the record high temperatures on the company’s operating performance, the company is providing preliminary third-quarter results and updated 2016 outlook in advance of its scheduled earnings call.
The company expects to report revenue of $758 million for the quarter, or a year-over-year increase of 7 percent, driven primarily by organic growth at AHS, the impacts of acquiring Alterra Pest Control, LLC in November 2015 and OneGuard Home Warranties in June 2016 and 2 percent organic revenue growth at Terminix, primarily driven by price.
The company expects to report third-quarter 2016 net income of $70 million, or $0.51 per share, versus $49 million, or $0.36 per share, in the same period in 2015. Third-quarter 2016 Adjusted net income is expected to be $81 million, or $0.59 per share, versus $74 million, or $0.54 per share, for the same period in 2015.
The company expects to report Adjusted EBITDA of $192 million for the quarter, or an increase of 10 percent over the same period prior year. Adjusted EBITDA was negatively impacted by the previously mentioned $5 million increase in weather-related claims costs at AHS. Reconciliations of both Adjusted net income and Adjusted EBITDA to net income are set forth below in this press release.
No more results found. The company’s net income, Adjusted net income and Adjusted EBITDA were negatively impacted by a $5 million increase in claims costs at American Home Shield (“AHS”) associated with a higher number of HVAC work orders driven by record high temperatures experienced nationwide during the quarter. Due to the adverse impact of the record high temperatures on the company’s operating performance, the company is providing preliminary third-quarter results and updated 2016 outlook in advance of its scheduled earnings call.
The company expects to report revenue of $758 million for the quarter, or a year-over-year increase of 7 percent, driven primarily by organic growth at AHS, the impacts of acquiring Alterra Pest Control, LLC in November 2015 and OneGuard Home Warranties in June 2016 and 2 percent organic revenue growth at Terminix, primarily driven by price.
The company expects to report third-quarter 2016 net income of $70 million, or $0.51 per share, versus $49 million, or $0.36 per share, in the same period in 2015. Third-quarter 2016 Adjusted net income is expected to be $81 million, or $0.59 per share, versus $74 million, or $0.54 per share, for the same period in 2015.
The company expects to report Adjusted EBITDA of $192 million for the quarter, or an increase of 10 percent over the same period prior year. Adjusted EBITDA was negatively impacted by the previously mentioned $5 million increase in weather-related claims costs at AHS. Reconciliations of both Adjusted net income and Adjusted EBITDA to net income are set forth below in this press release.