Rollins, Inc. (NYSE:ROL) Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET
Company Participants
Lyndsey Burton - Vice President, Investor Relations
Jerry Gahlhoff - Chief Executive Officer and President
Kenneth Krause - Executive Vice President, Chief Financial Officer and Treasurer
Conference Call Participants
Tim Mulrooney - William Blair
Ashish Sabadra - RBC Capital Markets
George Tong - Goldman Sachs
Hilary Lee - Morgan Stanley
Heather Balsky - Bank of America
Joshua Chan - UBS
Aadit Shrestha - Stifel
Stephanie Moore - Jefferies
Operator
Greetings and welcome to Rollins, Inc. Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded.
And it is now my pleasure to introduce your host Lyndsey Burton, Vice President of Investor Relations. Thank you, Ms. Burton. You may begin.
Lyndsey Burton
Thank you and good morning, everyone. In addition to the earnings release that we issued yesterday, the company has also prepared a supporting slide presentation. The earnings release and presentation are available on our website at www.rollins.com.
We have included certain non-GAAP financial measures as part of our discussion this morning. The non-GAAP reconciliations are available in the appendix of today's presentation as well as in our earnings release. The company's earnings release discusses the business outlook and contains certain forward-looking statements. These particular forward-looking statements and all other statements that have been made on this call, excluding historical facts, are subject to a number of risks and uncertainties and actual results may differ materially from any statement we make today. Please refer to yesterday's press release and the company's SEC filings, including the Risk Factors section of our Form 10-K for the year ended December 31, 2023.
On the line with me today and speaking are Jerry Gahlhoff, President and Chief Executive Officer; and Ken Krause, Executive Vice President and Chief Financial Officer. Management will make some opening remarks and then we'll open the line for your questions.
Jerry, would you like to begin?
Jerry Gahlhoff
Thank you, Lyndsey. Good morning, everyone. I'm pleased to report that Rollins delivered another good quarter of growth and profitability, reflecting consistent execution of our operating strategies and continuous improvement in our business.
Our financial performance for the second quarter was highlighted by an increase in revenue of 8.7% to $892 million and we delivered healthy organic growth of 7.7% in the quarter. Overall, we continue to see solid revenue growth across all major service lines as total residential revenue increased 6.3%, commercial rose 9.9%, and termite and ancillary was up 11.8% this quarter.