ServiceMaster Global Holdings (SERV) Tops Q1 EPS by 4c, Beats on Revenues; Boosts FY18 Revenue Outlook

ServiceMaster Global Holdings (NYSE: SERV) reported Q1 EPS of $0.44, $0.04 better than the analyst estimate of $0.40. Revenue for the quarter came in at $675 million versus the consensus estimate of $664.19 million.

First-Quarter 2018 Results

• Revenue increased five percent to $675 million
• Net income of $40 million, or $0.30 per share, in the first quarter, versus $39 million, or $0.29 per share, a year ago
• Adjusted net income(1) of $59 million, or $0.44 per share, in the first quarter, versus $46 million, or $0.34 per share, a year ago
• Adjusted EBITDA(2) increased five percent to $141 million for first quarter, versus $134 million a year ago
• Continued strong cash flow conversion for the first quarter with net cash provided from operating activities from continuing operations of $142 million and free cash flow(3) of $119 million, up 10 percent versus a year ago
• Completed Copesan Services, Inc. acquisition on March 30, 2018

Full-Year 2018 Outlook

• Due primarily to the projected impact of the Copesan acquisition, increasing revenue guidance by $70 million to between $3,085 million and $3,115 million, or growth over prior year between six percent and seven percent, and increasing Adjusted EBITDA guidance by $5 million to between $695 million and $710 million, or growth between two percent and five percent over prior year.

GUIDANCE:

ServiceMaster Global Holdings sees FY2018 revenue of $3.085-3.115 billion, versus the consensus of $3.05 billion.

For earnings history and earnings-related data on ServiceMaster Global Holdings (SERV) click here.

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