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ServiceMaster hurt by TruGreen

Industry News

In the parent company's first-quarter financial statement, ServiceMaster's interim CEO attributed disappointing results to the lawn care giant's problems.

The Memphis Daily News | May 16, 2013

The ServiceMaster Co. saw operating revenue and operating income decline during the first three months of 2013.

The Memphis-based commercial and residential service provider and franchiser reported a 7.1 percent drop in operating revenue compared to the first quarter of 2012 and an 83.2 percent operating income decrease from a year ago.

The earnings call with analysts from the company’s Memphis headquarters Tuesday, May 14, was the first for interim CEO John Krenicki Jr.

Krenicki termed the first quarter results “disappointing” and attributed much of the performance to the TruGreen lawn care division of ServiceMaster. He called the problems “self-inflicted wounds.”

ServiceMaster reported operating revenue of $608 million for the first quarter of 2013 and operating income of $20 million for the same period.

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