Exhibit 99.1

For Further Information Contact

Eddie Northen (404) 888-2242

FOR IMMEDIATE RELEASE

ROLLINS, INC. REPORTS THIRD QUARTER AND NINE MONTHS
 2019 FINANCIAL RESULTS

· Record revenue increase of 14.1% for the quarter

· Strong organic revenue growth of 6.4% for the quarter

· Earnings Per Share of $0.13 for third quarter 2019 impacted by $0.09 from non-cash pension settlement

· Adjusted Earnings Per Share* of $0.22 for third quarter 2019 and $0.20 for third quarter 2018

ATLANTA, GEORGIA, October 23, 2019: Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, reported unaudited financial results for its third quarter and nine months ended September 30, 2019.

The Company recorded third quarter record revenues of $556.5 million, an increase of 14.1% over the prior year’s third quarter revenue of $487.7 million. Rollins’ reported net income of $44.1 million or $0.13 per diluted share for the third quarter ended September 30, 2019. Adjusted net income* for the third quarter ended September 30, 2019 was $70.6 million or $0.22 per diluted share, compared to $66.6 million or $0.20 per diluted share for the same quarter in 2018.

Rollins’ revenues rose 9.6% for the first nine months of 2019 to $1.509 billion compared to $1.377 billion for the prior year. Net income for the first nine months of 2019 was $152.6 million or $0.47 per diluted share. Adjusted net income* for the nine months ended September 30, 2019 was $179.2 million or $0.55 per diluted share, compared to $180.7 million or $0.55 per diluted share for the same period last year.

The Company, as planned, terminated its fully-funded pension plan in September 2019 with the completion of the transfer of $198.3 million of U.S. pension obligations. The non-cash pension expense was $49.9 million pre-tax.

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins, Inc. stated, “We remain confident in our strategy and action plans, and are working hard to grow the business both organically and through strategic acquisition.”

*“Adjusted” amounts presented in this release are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial metrics, including a reconciliation to the most closely correlated GAAP measure.

Rollins, Inc. is a premier global consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Clark Pest Control, Orkin Canada, Western Pest Services, Northwest Exterminating, Critter Control, Inc., The Industrial Fumigant Company, Trutech LLC., Orkin Australia, Waltham Services LLC., OPC Pest Services, PermaTreat, Rollins UK, Aardwolf Pestkare, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, Mexico, and Australia from more than 700 locations. You can learn more about Rollins and its subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.clarkpest.com, www.orkincanada.ca, www.westernpest.com, www.callnorthwest.com, www.crittercontrol.com, www.indfumco.com, www.trutechinc.com, www.orkinau.com, www.allpest.com.au, www.murraypestcontrol.com.au, www.statewidepc.com.au, www.walthamservices.com, www.opcpest.com, www.permatreat.com, www.safeguardpestcontrol.co.uk, www.aardwolfpestkare.com, www.cranepestcontrol.com and www.rollins.com. You can also find this and other news releases at www.rollins.com by accessing the news releases button.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about the Company’s confidence in its strategies and action plans. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including without limitation, economic and competitive conditions which may adversely affect the Company’s business; the degree of success of the Company’s pest and termite process, and pest control selling and treatment methods; the Company’s ability to identify and integrate potential acquisitions; climate and weather trends; competitive factors and pricing practices; the Company’s ability to attract and retain skilled workers, and potential increases in labor costs; uncertainties of litigation; changes in various government laws and regulations, including environmental regulations; and the impact of the U. S. Government shutdown. All of the foregoing risks and uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. A more detailed discussion of potential risks facing the Company can be found in the Company’s Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2018.

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in thousands)

At September 30, (unaudited)	2019		2018
ASSETS
Cash and cash equivalents	$	104,362	$	118,652
Trade accounts receivables, net		132,065		122,375
Financed receivables, net		23,821		20,384
Materials and supplies		17,500		16,093
Other current assets		46,440		25,576
Total Current Assets		324,188		303,080
Equipment and property, net		197,549		136,857
Goodwill		570,759		365,480
Customer contracts, net		283,830		185,477
Trademarks and tradenames, net		102,657		53,850
Other intangible assets, net		11,008		11,587
Operating lease, right-of-use assets		196,854		—
Financed receivables, long-term, net		30,750		26,882
Benefit plan assets		25,949		—
Prepaid pension		—		19,522
Deferred income taxes, net		—		5,863
Other assets		21,249		20,975
Total Assets	$	1,764,793	$	1,129,573
LIABILITIES
Accounts payable	$	32,932	$	29,991
Accrued insurance, current		29,817		27,722
Accrued compensation and related liabilities		78,699		73,829
Unearned revenue		132,915		123,916
Operating lease liabilities, current		63,952		—
Current portion of long-term debt		12,500		—
Other current liabilities		60,065		53,923
Total Current Liabilities		410,880		309,381
Accrued insurance, less current portion		34,157		33,883
Operating lease liabilities, less current portion		133,703		—
Long-term debt		313,500		—
Long-term accrued liabilities		65,656		51,551
Total Liabilities		957,896		394,815
STOCKHOLDERS’ EQUITY
Common stock		327,442		327,318
Retained earnings and other equity		479,455		407,440
Total stockholders’ equity		806,897		734,758
Total Liabilities and Stockholders’ Equity	$	1,764,793	$	1,129,573

ROLLINS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands except per share data)

(unaudited)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2019		2018			2019			2018
REVENUES
Customer services	$	556,466	$	487,739		$	1,509,492		$	1,376,942
COSTS AND EXPENSES
Cost of services provided		268,718		236,287			739,309			673,202
Depreciation and amortization		21,690		16,867			58,505			50,149
Pension settlement loss		49,898		—			49,898			—
Sales, general and administrative		167,168		145,072			468,584			414,938
Gain on sale of assets, net		27		(314	)		(406	)		(678	)
Interest expense, net		2,826		(63	)		4,451			70
		510,327		397,849			1,320,341			1,137,681
INCOME BEFORE INCOME TAXES		46,139		89,890			189,151			239,261
PROVISION FOR INCOME TAXES		2,078		23,262			36,569			58,566
NET INCOME	$	44,061	$	66,628		$	152,582		$	180,695
NET INCOME PER SHARE - BASIC AND DILUTED	$	0.13	$	0.20		$	0.47		$	0.55
Weighted average shares outstanding - basic and diluted		327,459		327,321			327,490			327,283

APPENDIX 

Reconciliation of GAAP and non-GAAP Financial Measures

The Company has used the non-GAAP financial measures of adjusted net income and adjusted EPS in today's earnings release. This measure should not be considered in isolation or as a substitute for net income or other performance measures prepared in accordance with GAAP.

The Company uses adjusted net income and adjusted EPS as a measure of operating performance because it allows us to compare performance consistently over various periods without regard to the impact of the non-recurring pension settlement loss.

A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.

Set forth below is a reconciliation of adjusted net income and adjusted EPS with net income, the most comparable GAAP measures.

(unaudited in thousands except EPS)

	Three Months Ended											Nine Months Ended
	September 30,											September 30,
	2019			2018		Better/ (Worse)			%			2019			2018		Better/ (Worse)			%
Net Income	$	44,061		$	66,628	$	(22,564	)		(33.9	)	$	152,582		$	180,695	$	(28,113	)		(15.6	)
Pension Settlement Loss		49,898			—		49,898			—			49,898			—		49,898			—
Adjusted Income Taxes on Excluded Expenses		(23,315	)		—		(23,315	)		—			(23,315	)		—		(23,315	)		—
Adjusted Net Income	$	70,647		$	66,628	$	4,019			6.0		$	179,165		$	180,695	$	(1,530	)		(0.8	)
Adjusted Earnings Per Share - Basic and Diluted	$	0.22		$	0.20	$	0.02			10.0		$	0.55		$	0.55	$	—			—
Weighted average participating shares outstanding - basic and diluted		327,459			327,321		(138	)		—			327,490			327,283		(207	)		(0.1	)

(( CONFERENCE CALL ANNOUNCEMENT ((

Rollins, Inc.

(NYSE: ROL)

 

Management will hold a conference call to discuss

Third Quarter 2019 results on

Wednesday, October 23, 2019 at:

10:00 a.m. Eastern

9:00 a.m. Central

8:00 a.m. Mountain

7:00 a.m. Pacific

TO PARTICIPATE:

Please dial 800-367-2403 domestic;

334-777-6978 international
at least 5 minutes before start time.

REPLAY: available through October 30, 2019

Please dial 888-203-1112/719-457-0820, Passcode 2950556

THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT

www.viavid.com

Questions?

Contact Samantha Alphonso at Financial Relations Board at 212-827-3746

Or email to salphonso@mww.com