Rollins (ROL) Misses Q1 EPS by 1c, Revenues Miss; 'U.S. Weather Conditions Dampened Q1 Results'

Rollins (NYSE: ROL) reported Q1 EPS of $0.14, $0.01 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $429.1 million versus the consensus estimate of $437.27 million.

• U.S. Weather conditions dampened first quarter results
• Tax rate higher due to impact of certain non-deductible expenses
• International results affected by currency headwinds
• Enhanced employee benefits had residual cost increases

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, "We had a successful quarter even while feeling the effects of arctic weather and torrential rains in the country causing termites and other pests to remain dormant for the first quarter, however the company had improvements in both customer and employee retention. We look forward to warm weather and the spring pest season."

"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, Inc.

For earnings history and earnings-related data on Rollins (ROL) click here.

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