ATLANTA - Rollins, Inc. (NYSE: NYSE:ROL), a leading global services company, announced the appointment of Clay Scherer, Ph.D. as Group Vice President, Technical Services, effective today. Scherer brings over 30 years of experience in the pest management industry, including a strong background in urban entomology and leadership roles in global markets.
In his new role at Rollins, Scherer will oversee the Technical Services, Quality Assurance, and Regulatory operations. President and CEO Jerry Gahlhoff expressed confidence in Scherer's ability to contribute to the company's leadership team, citing his track record in developing customer-focused solutions and service protocols that have become industry standards.
Scherer, who has spent much of his career in the pest management field, expressed his enthusiasm about joining Rollins. He aims to leverage his expertise in innovation and research to lead the Technical Services and related teams, and to partner with Rollins' leadership in maintaining the company's focus on its people and customers.
Before joining Rollins, Scherer served as the Global Research and Development Lead for the Professional Solutions Business at Syngenta AG (OTC:SYENF) in Switzerland, where he managed research, product development, and technical support. He has also held various roles at Syngenta and DuPont (NYSE:DD) in the United States and other key pest management markets around the world. Scherer's Ph.D. in Entomology was fully funded by the U.S. EPA and earned from the University of Florida.
Rollins, Inc., the parent company to Orkin and other well-known pest control brands, provides essential services to over 2.8 million customers globally. The company operates more than 800 locations with over 20,000 employees, offering pest control services and protection against termite damage, rodents, and insects in multiple continents.
This announcement is based on a press release statement from Rollins, Inc.
In other recent news, Rollins Inc . reported a 9% increase in Q3 revenue to $916 million and a 7.7% rise in GAAP net income, despite challenges posed by Hurricane Helene. The company's earnings growth was supported by strategic acquisitions and a focus on organic growth, resulting in improved gross margins of 54% and an adjusted EBITDA of $219 million. Additionally, a 10% dividend increase was announced, backed by free cash flow growth.
In terms of company developments, Rollins completed 32 tuck-in acquisitions, anticipating at least 2% growth from M&A activities for the year. A leadership transition was also announced, with Gary Rollins moving to Executive Chairman Emeritus and John Wilson stepping in as Executive Chairman.
Barclays (LON:BARC) initiated coverage on Rollins, assigning an Equal Weight rating with a $50 price target, indicating a neutral perspective on the stock's near-term performance. Similarly, Jefferies reaffirmed their Hold rating on Rollins, maintaining a $46.00 price target for the company's shares. These recent developments underscore Rollins' commitment to strategic growth and operational efficiency.
InvestingPro Insights
Rollins, Inc.'s appointment of Clay Scherer as Group Vice President of Technical Services aligns well with the company's strong market position and financial performance. According to InvestingPro data, Rollins boasts a market capitalization of $23.03 billion, reflecting its significant presence in the pest control industry.
The company's focus on innovation and customer-centric solutions, as highlighted by Scherer's appointment, is reflected in its impressive financial metrics. Rollins has maintained a robust gross profit margin of 52.64% over the last twelve months, demonstrating its ability to effectively manage costs while delivering quality services.
InvestingPro Tips reveal that Rollins has raised its dividend for 22 consecutive years, showcasing a commitment to shareholder returns. This is further supported by a dividend yield of 1.39% and a remarkable dividend growth of 26.92% over the last twelve months. These figures underscore the company's financial stability and growth potential, which could be further enhanced by Scherer's expertise in developing industry-standard service protocols.
While Rollins trades at a relatively high P/E ratio of 49.02, its strong market position and consistent performance may justify this valuation. The company's revenue growth of 11.07% over the last twelve months indicates a healthy expansion trajectory, which could be bolstered by Scherer's global experience and focus on innovation.
For investors seeking more comprehensive insights, InvestingPro offers an additional 14 tips for Rollins, Inc., providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.