Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, reported strong unaudited financial results for its fourth quarter and year ended December 31, 2020.
The Company recorded fourth quarter revenues of $536.3 million, an increase of 6.0% over the prior year's fourth quarter revenue of $506.0 million. Rollins' reported net income of $62.6 million or $0.13 per diluted share for the fourth quarter ended December 31, 2020, compared to $50.8 million or $0.10 per diluted share for the same period in 2019.
All shares and per share data have been adjusted to reflect the 3-for-2 stock split effective December 10, 2020.
For the full year ended December 31, 2020, Rollins' revenues rose 7.2% to $2.161 billion compared to $2.015 billion for the prior year. The Company reported net income of $260.8 million or $0.53 per diluted share compared to $203.3 million or $0.41 per diluted share for the same period last year. Net income for the full year 2020 was negatively impacted by the one-time non-cash accelerated stock vesting of $6.7 million. Adjusted net income* for the full year 2020 was $267.5 million or $0.54 per diluted share, compared to adjusted net income* of $229.9 million or $0.47 per diluted share for the same period last year.
Gary W. Rollins, Chairman and Chief Executive Officer of Rollins, Inc. stated, "We are very proud of our results, and our employees and their commitment to customer service. Although 2020 brought many difficult circumstances related to COVID, we benefitted from our residential pest control demand and our previous technology investments."
Rollins, Inc. is a premier global consumer and commercial services company. Through its family of leading brands, Orkin, HomeTeam Pest Defense, Clark Pest Control, Orkin Canada, Western Pest Services, Northwest Exterminating, Critter Control, The Industrial Fumigant Company, Trutech, Orkin Australia, Waltham Services, OPC Services, PermaTreat, Rollins UK, Aardwolf Pestkare, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in North America, South America, Europe, Asia, Africa, and Australia from more than 700 locations. You can learn more about Rollins and its subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.clarkpest.com, www.orkincanada.ca, www.westernpest.com, www.callnorthwest.com, www.crittercontrol.com, www.indfumco.com, www.trutechinc.com, www.orkinau.com, www.walthamservices.com, www.opcpest.com, www.permatreat.com, www.safeguardpestcontrol.co.uk, www.aardwolfpestkare.com, www.cranepestcontrol.com and www.rollins.com. You can also find this and other news releases at www.rollins.com by accessing the news releases button.
