SERVICEMASTER CO, LLC (SERV) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

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Exhibit 99

 

 

 

 Picture 2

News Release

 

 For further information contact:

 

Investor Relations:

James Shields

901.597.6839

James.Shields@servicemaster.com

 

Media:

Peter Tosches

901.597.8449

Peter.Tosches@servicemaster.com

 

ServiceMaster Global Holdings, Inc. Reports Preliminary

Fourth-Quarter and Full-Year 2014 Financial Results

 

Fourth-quarter 2014

·

Revenue increased 8 percent to $577 million with growth in all segments

·

Net income of $20 million or $0.15 per share versus net loss of $18 million or $0.20 per share a year ago

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Adjusted net income(1) of $32 million or $0.23 per share versus $9 million or $0.09 per share

·

Adjusted EBITDA(2) increased 28 percent to $114 million

 

MEMPHIS, TENN, — February 26, 2015  —ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential residential and commercial services, today announced preliminary unaudited fourth-quarter and full-year 2014 results. The company reported fourth-quarter 2014 revenue of $577 million, an increase of 8 percent compared to the same period in 2013.  The company reported full-year 2014 revenue of $2.5 billion, an increase of 7 percent compared to the previous year. Both the full-year and fourth-quarter increases in revenue were driven by the acquisition of Home Security of America, Inc. (“HSA”), an increase in sales of new services at Terminix, and accelerated organic growth at American Home Shield.          

 

The company reported fourth-quarter 2014 net income of $20 million or $0.15 per share versus a net loss of $18 million or $0.20 per share in the same period in 2013.

 

Including a  $100 million loss from discontinued operations associated with goodwill and trade name impairment charges at TruGreen, a subsidiary which the company spun-off on January 14, 2014, the company reported a full-year 2014 net loss of $57 million, or $0.50 per share. The net loss in 2014 also includes a loss on extinguishment of debt of $65 million and consulting agreement termination fees of $21 million in conjunction with the company’s initial public offering. This compares to a net loss of $507 million, or $5.49 per share for the full-year 2013, which included a loss of $549 million from discontinued operations associated with TruGreen.

 

The company reported fourth-quarter 2014 adjusted net income of $32 million, or $0.23 per share versus $9 million, or $0.09 per share, in the same period in 2013.  Full-year 2014 adjusted net income was $167 million or $1.47 per share compared to $82 million or $0.89 per share for the full-year 2013.  Earnings per share and other share data for the fourth-quarter and full-year 2014 ended December 31, 2014 contained in this release reflect the 41.3 million shares issued by the company on July 1, 2014, in conjunction with its initial public offering.

 

The company reported fourth-quarter 2014 Adjusted EBITDA of $114 million, an increase of $25 million or 28 percent compared to the same period in 2013.  The increase was primarily driven by the impact of higher revenue and operating cost savings, partially offset by higher marketing spend at AHS during the quarter.  Full-year Adjusted EBITDA was $557 million compared to $450 million for the full-year 2013.   

 

Rob Gillette, ServiceMaster’s chief executive officer, noted an increase in sales of new services at Terminix,  combined with direct-to-consumer sales growth at American Home Shield, and improved operating efficiencies, drove revenue and Adjusted EBITDA growth in the fourth-quarter versus the prior year. Our results reflect the strides we’ve made in bringing solutions and services to our customers that add value, and protect and maintain their homes and businesses.” Gillette said, Our vision is to be the leading provider of

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The following information was filed by SERVICEMASTER CO, LLC on Thursday, February 26, 2015 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Exhibit 10.70 - MATERIAL CONTRACT

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Exhibit 10.71 - MATERIAL CONTRACT

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Exhibit 12 - STATEMENT REGARDING CALCULATION OF RATIOS

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Exhibit 23.1 - CONSENTS OF EXPERTS AND COUNSEL

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Exhibit 32.1 - SECTION 1350 CERTIFICATION

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  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0001428875-15-000015
  • Submitted to the SEC: Monday, March 2, 2015
  • Accepted by the SEC: Monday, March 2, 2015
  • Period Ending: December 2014
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