Rollins Shares Fall After Co. Calls 3Q Results Disappointing

Dow Jones10-22

Shares of Rollins, the owner of Orkin and other pest control brands, were trading lower in the after-hours market, after the chief executive officer said the company was disappointed by third-quarter results.

After the bell, shares of Rollins fell 7.4%, to $30.98. The stock finished the day's regular session with an increase of under 1%, closing at $33.45.

Jerry Gahlhoff, Jr., the company's president and chief executive officer, said Rollins was disappointed with its third quarter performance, and working to address the challenges impacting results.

In July, Gahlhoff said the company's second-quarter results fell short of expectations.

For the third quarter, Rollins reported earnings per share of 33 cents on revenue of $1.1 billion. In the year-ago period, the company reported EPS of 34 cents on revenue of $1 billion.

Residential customer acquisition remained under pressure in the third quarter, Gahlhoff said. He added with a clearer understanding of changes in the customer acquisition landscape, Rollins is taking steps to optimize its approach.

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