Register
 (photo: )
26.02.2019, 14:05

ServiceMaster Q4 2018 Results

Company News, Americas, Service Provider News

ServiceMaster has announced revenue growth of 12 per cent, including 5 per cent organic growth at its pest control business, Terminix, in the final quarter of 2018.

 

ServiceMaster CEO, Nik Varty.
ServiceMaster CEO, Nik Varty.
The results take the group's full year 2018 revenues to 8 percent (or US $1,900 million).

 

The company also announced a net loss of US $41 million (or US $0.30 per share) from costs associated with the spin-off of Frontdoor, Inc., the parent company of its Memphis, Tennessee-based American Home Shield home warranty operation into a separate business.

 

Discussing the results, ServiceMaster CEO, Nikhil (Nik) Varty, said:

"Our primary goal in 2018 was to transform our Terminix business and unlock the potential to drive sustainable revenue growth. We are pleased to report that our focused efforts throughout 2018 and strategic initiatives resulted in record revenue at Terminix in the fourth quarter and full year 2018.

 

"Improvements in pest sales, driven by enhanced marketing initiatives, and stronger start and completion rates drove organic growth of 5 percent during the quarter, including over 7 per cent in residential pest for a second consecutive quarter.

 

"The strong second half performance in these areas led to full-year organic growth of 2 per cent, meeting the high end of expectations we set a year ago. ServiceMaster Brands grew revenue organically 5 per cent in the fourth quarter and 9 percent for the full year. We continue to create strong growth by focusing on high-value segments in the cleaning and restoration businesses, with revenue in both commercial restoration and commercial cleaning national accounts up over 20 per cent in 2018".

 

 

 

Article rating:

vote data

Leave a reply

Pictured: Compass Group PLC CEO, Dominic Blakemore. (photo: Compass Group UK & Ireland)
News Editor  - 11.01.2021

Putting the Planet First

Compass Group is among 25 companies to have confirmed support for the Terra Carta pledge launched by HRH The Prince of Wales’ Sustainable Markets Initiative.

 (photo: Meritt Thomas)
Simon Green  - 06.01.2021

Smoke Bombing or Air Sanitisation Units?

Simon Green, Head of Value Engineering, Sourcing & Quality for the Airdri Group, explains why air sanitisation units are preferable to the practice of smoke bombing in workplaces post-Covid-19.

 (photo: TUV Rheinland)
News Editor  - 06.01.2021

Hailing Building Materials Testing

A specialised testing service from TÜV Rheinland can prevent damage to buildings, cars and caravans caused by hailsontes.

 (photo: Brigton Hollingdean MRF/Veolia Environnemental Sevices)
Staff Reporter  - 17.08.2020

Backing the UK's Green Economic Recovery

Veolia’s latest Sustainability strategy, Impact 2023, aims to support innovation and new infrastructure by adding to over £2 billion the company has already invested in the UK's circular economy.

 (photo: )
FM Editor  - 18.12.2019

The Drains of Christmas Future

UK wastewater and drainage solutions provider Lanes Group has reimagined "A Christmas Carol" into a story about the importance of clean drains.

 (photo: )
FM Editor  - 18.12.2019

University of Manchester Clean Room Contract

SPIE UK has won an 18-month design, supply, install and commission contract for a clean room at The University of Manchester, as part of a new build being constructed by Balfour Beatty.