Business
ServiceMaster Updates Business Trends and Provides Second-Quarter 2020 Outlook
Revenue from continuing operations expected between $510 and $525 million Adjusted EBITDA from continuing operations expected between $105 and $115 million
About this update from Serve Robotics Inc.
[{"type":"text","content":"\n\nRevenue from continuing operations expected between $510 and $525 million \n\n\nAdjusted EBITDA from continuing operations expected between $105 and $115 million \n\n\n$267 million in cash on hand and over $635 million in total liquidity as of May 31, 2020\n\n\n MEMPHIS, TENN.--(BUSINESS WIRE)--\nServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today provided an outlook for the second quarter of 2020.\n\n\nSecond-Quarter 2020 Outlook\n\n\nIn order to update the market on recent trends in the business, second-quarter 2020 Revenue and Adjusted EBITDA guidance is provided below for Continuing Operations, and the ServiceMaster Brands Divesture Group.\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\nContinuing Operations\n\n\n\n \n\n\n\nSMB Divestiture Group\n\n\n\n\n\n(In millions)\n\n\n\n \n\n\n\nLow\n\n\n\n \n\n\n\nHigh\n\n\n\n \n\n\n\nLow\n\n\n\n \n\n\n\nHigh\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$\n\n\n\n510\n\n\n\n \n\n\n\n$\n\n\n\n525\n\n\n\n \n\n\n\n$\n\n\n\n57\n\n\n\n \n\n\n\n$\n\n\n\n62\n\n\n\n\n\nGrowth Rate\n\n\n\n \n\n\n\n \n\n\n\n3%\n\n\n\n \n\n\n\n \n\n\n\n6%\n\n\n\n \n\n\n\n \n\n\n\n(12) %\n\n\n\n \n\n\n\n \n\n\n\n(5) %\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n \n\n\n\n$\n\n\n\n105\n\n\n\n \n\n\n\n$\n\n\n\n115\n\n\n\n \n\n\n\n$\n\n\n\n20\n\n\n\n \n\n\n\n$\n\n\n\n23\n\n\n\n\n\nMargin\n\n\n\n \n\n\n\n \n\n\n\n21%\n\n\n\n \n\n\n\n \n\n\n\n22%\n\n\n\n \n\n\n\n \n\n\n\n35%\n\n\n\n \n\n\n\n \n\n\n\n37%\n\n\n\n\n\nResidential Pest Control\n\n\nResidential Pest Control organic revenue growth is expected to be flat to slightly down versus prior year. Continuing improvement in service levels and customer retention in the second quarter are expected to be offset by the COVID-19 related suspension of the door-to-door summer sales program in most markets and lower one-time sales, primarily related to bedbug services. The impact of COVID-19 related service postponements have continued to moderate and improve from late first quarter peaks but remain higher than prior year.\n\n\nCommercial Pest Control \n\n\nCommercial pest control organic revenue growth is expected to...