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.
For the rest of the article, click here.
Latest from Lawn & Landscape
- Hilltip adds extended auger models
- What 1,000 techs taught us
- Giving Tuesday: Project EverGreen extends Bourbon Raffle deadline
- Atlantic-Oase names Ward as CEO of Oase North America
- JohnDow Industries promotes Tim Beltitus to new role
- WAC Landscape Lighting hosts webinar on fixture adjustability
- Unity Partners forms platform under Yardmaster brand
- Fort Lauderdale landscaper hospitalized after electrocution
