|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.22 - 5.22|
|52 Week Range||4.63 - 8.81|
|Beta (5Y Monthly)||0.51|
|PE Ratio (TTM)||34.80|
|Forward Dividend & Yield||0.10 (1.89%)|
|Ex-Dividend Date||Aug 03, 2023|
|1y Target Est||N/A|
Rollins on Wednesday beat Wall Street expectations for third-quarter revenue, helped by strong demand for its pest control services. With global temperatures rising, pest control services are expected to benefit from greater demand from both households as well as commercial establishments. "As we look to close out 2023, we are well positioned for continued growth, both organically, as well as through acquisitions," CEO Jerry Gahlhoff said.
The British company that owns Terminix pest control warned of softening demand in North America, and investors are worried things could get worse from here. Shares of Rentokil Initial (NYSE: RTO) fell as much as 20% on Thursday morning due to what the company called "challenging" macroeconomic conditions. Rentokil is a global bug buster, operating in 90 countries offering not just pest control but also cleaning and sanitizing services as well.
Citing "near-term market uncertainty", it now expects an annual adjusted operating margin for North America of 18.5%-19%, down from its previous guidance of about 19.5%, reflecting the impact on revenue. Rentokil, which caters to hotels, restaurants, commercial businesses and households, completed a $6.7 billion deal to buy Terminix last year, making it the largest pest control provider in North America. "While customer retention rates remained resilient, new residential customer acquisition was challenged by the macroeconomic backdrop," the company said in a statement referring to North America.