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Rollins Q1 Profit Declines; Results Miss Estimates - Quick Facts

Rollins Inc. (ROL) on Wednesday reported a decline in profit for the first quarter from last year despite higher revenues. Both revenue and earnings per share missed analysts' expectations.

The company reported net income of $44.2 million or $0.14 per share for the first quarter ended March 31, 2019, down from $48.5 million or $0.15 per diluted share for the same period in 2018.

First-quarter revenues rose 5 percent to $429.1 million from $408.7 million in the year-ago period.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.15 per share for the quarter on revenues of $437.27 million. Analysts' estimates typically exclude special items.

"Our operations were well prepared and ready for a spring that has been delayed in many parts of the United States. Additionally, several items negatively impacted our EPS for the quarter by 1.5 cents. Mainly a higher tax rate, the strengthening U.S. dollar against foreign currency, professional services expenses related to acquisitions and enhanced employee benefit participation, affected the quarter by an average of $1M each," stated Eddie Northen, Senior VP, CFO, and Treasurer of Rollins.

The company said it continues to expect to close the acquisition of Clark Pest Control of Stockton, Inc. located in Lodi, California during the second quarter of 2019.

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