Rollins said revenue rose to $3.1 billion in 2023, up $377.5 million (14.0%) from 2022. The company said organic revenue growth was 8.2% and acquisitions contributed 5.9%.

1. 01

   Rollins said revenue rose to $3.1 billion in 2023, up $377.5 million (14.0%) from 2022. The company said organic revenue growth was 8.2% and acquisitions contributed 5.9%.

2. 02

   The company said gross margin in 2023 was 52.2%, improving 70 basis points from 51.5% in 2022. It said operating margin rose to 19.0% from 18.3% in 2022. SG&A as a share of revenue was unchanged at 29.8% in 2023 and 2022.

3. 03

   Rollins acquired Fox Pest Control on $339.5 million, and the company said cash paid for acquisitions in 2023 totaled $366.9 million. Borrowings under the Credit Facility as of year-end 2023 were $493.0 million, with an effective interest rate of 6.5%.

4. 04

   The company said net cash provided by operating activities was $528.4 million in 2023 (2022: $465.9 million). It paid $264.3 million in dividends ($0.54 per share). It also said it repurchased 8,724,100 shares from LOR, Inc. for $300.0 million.

Key figures

Fiscal year ended December 31, 2023

Revenue

$3.1B

Operating income

$583M

Net income

$435M

EPS

$0.89

Operating cash flow

$528M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.