Terminix Global Q4 Net Drops; Revenue Tops, Earnings Miss

(RTTNews) - Terminix Global Holdings, Inc. (TMX), a provider of termite and pest management services, on Tuesday announced a drastic drop in its fourth-quarter net income despite the increase in revenues, primarily due to the large gain from divestment in the last quarter of 2020.

Earnings missed consensus estimates while revenue topped expectations.

Net income for the period was $7 million or $0.06 per share as compared to $490 million or $3.71 per share in the previous period which included a $491 million gain from the sale of ServiceMaster Brands.

Adjusted net income for the period was $24 million or $0.20 per share as compared to $28 million or $0.21 per share in the previous period. 8 analysts polled by Thomson Reuters were expecting the company to report earnings of $0.22 per share. Analysts typically exclude one-time items.

Revenue for the period was $484 million as compared to $460 million in the fourth quarter of the previous fiscal. 7 analysts polled by Thomson Reuters were expecting the company to report revenues of $482.57 million.

Shares of Terminix Global Holdings closed Monday's trading at $42.56, down $0.08 or 0.19 percent from the previous close.