ROL - Earnings call transcript Q2 2020

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Operator

Greetings, and welcome to the Rollins Second Quarter 2020 Earnings Conference Call. [Operator Instructions]. It is now my pleasure to introduce your host, Marilynn Meek. Please go ahead.

Marilynn Meek

Thank you. have a should press of you release. now, all copy received the By

code is and and a receive if company's make missing However, anyone on are copy you release contact the office can of with list. call X for sure and replay you send one, which be by our begin would at X-XXX-XXX-XXXX the XXXXXXXX. replay dialing accessed will pass will There a XXX-XXX-XXXX, X we distribution will a a run and week. call, please be hour the The to like after

is at available Additionally, being the will replay and be call XX days. webcast www.viavid.com, a for

Chief today line like President, make Vice the Chief we'll Wilson, some and Executive Financial with me Gary and Eddie open then the are John Officer questions. will to would Chairman begin? Officer; Senior Northen, your and Operating On Chief Treasurer. and Vice and opening Rollins' Rollins, Management you Officer; and Gary, line President for remarks, presenting Rollins'

Gary Rollins

Yes, Eddie Marilynn. our conference then good XXXX begin. all appreciate forward-looking quarter second us We Call. you we'll morning. joining read and of disclaimer, for our statement and Thank will you, and

Paul Northen

cause to risk more to today. ended and the XX-K discusses statements today's year and the been our call, refer from for forward-looking release factors and contains Form for outlook that business These particular uncertainties actual results make facts, Factors are information that XX, filings, we materially statements. historical excluding risks our differ. Risk differ Please number forward-looking release and risks XXXX, December statement of made a any earnings and Our of including statements our press other this may actual SEC section all could certain have on to and subject the

Gary Rollins

Thank you, Eddie.

of in safe. communities, expansion I are hope express and the to virus you and many We regarding we focused are are results, concerned your doing the of about you experiencing remain talking how the and and your COVID-XX. family our spread know Before want of we well

second $XXX.X per million compared for of Now $X.XX XXXX. quarter per diluted quarter income period of the million X% $XX.X increase. $XX quarter an million months or shares X for to for to Revenues first for increase $XXX Revenues were per to the to income in last grew compared million our Net the for or XX.X% back diluted Net X.X% quarter. first rose to million for shares billion, per same $XXX.X the approximately months last or compared compared X the $XXX comparable $X.XX the diluted same share year. X.X% share to of year, to to $X.XX last year million $X.XX for period $X.XX a X.X% year. the increased the diluted second

an in results lines grew X.X%. control business our quarter. to XX.X%. Turning Residential Commercial, fumigation, the outstanding however, excluding pest down was

some which greater offset those have ancillary with around X.X%. revenue commercial detail shortfalls and these of will provide was We numbers. up Eddie termite service,

regard. our company's valuable most We they've efforts in exceptional of them contributions truly couldn't and During been consider challenging asset. every time we more most the our proud have history, in They our what and are be grateful in done. employees' what

and home our and avoiding provided be to remotely, spacing servicing continue involved would ensure safety technicians of office health. our that they as are working aware about into issues branch center coming needed offices. good and customers. and The go our are exist also working to their We personal their They are call as employees majority with of our protection Most remotely.

Our practices our commitment customers valued well. safe involves to as

unwanted their pests. they been and at their residential are cases, protect in need our XX/X, more home of and most even home, the side, property some conscious to plus the becoming have from and On customers of family

are Additionally, their control. recognizing more need families the in self-quarantine, as spending mosquito many yards, for time

brands, from regard, customers in high and We are our fast-growing new rates. have in at in that our our revenue trust record-setting customers, part, confidence is, pest all responsible which gain control the and benefiting for our

I call Before our the pleased of to note, face to the we with over want go turning to while were with that the the John, and quarter, for it. we challenges pandemic the continue results unknowns

and of to routinely and As address COVID-XX. a impact adjust policies result, we the us better review activities help our

the related by I control economic has As more pest mentioned, its circumstances. been commercial unfortunately virus impacted and

narrowing we've March. down period without businesses to since for they Anecdotally, shut been consequences. commercial many been growing these pest of extended brands A VitalClean. we our worthwhile pest at control seeing can't service, control shortfall services our time challenges introduction month the infestation each disinfectant and However, that an offset realization has having gap other are revenue a of

traction, As more and be to ability a the to we roll our it and had result expect service commercial prior forward. the development gaining to is would of significant service VitalClean revenue related this to we pandemic, protocols quickly. new going contributor out sales

these details turn business. Let the provide aspects who to John, me now John? call our on of will over more

John Wilson

to event. Thank their made their customers about Gary response pandemic this worldwide and team throughout earlier to the morning. you, to this good our Gary, members. commitment unbelievable A theme and was I echo would like common commentary their

the reputable trust professionals. and As have our in that brands our highly started, we firsthand, pandemic the service saw customers

that response our much very rodent to many we from all our threats. pest responsibly. you health would our their the received outfit Additionally, moved team you give keep as Thank what unprotected do. from our and for members, service outstanding as left our field caused safe, customers Without we have ability teams insect customers confidence well with needs personal quickly help them to in protective gear been

quarter, serious eliminates offering a imperative free. many Orkin keeping sterile service, and to our possible and as an other we thoroughly noted last is which now variety are Comprehensive As disinfection brands quickly disinfection of pathogens. as wide disease establishment and of a

first-responder commercial especially pleased movement hundreds were we service to wide-ranging locations: service receiving a delighted see and of very customers. the from this was quarter, police reception from to our second the stations, this provide firehouses I positive [indiscernible] hospitals. at field teams During our to is

opens As indoor the or for go and businesses shopping for guests employees to services grow. dining, back various and their workplaces, VitalClean economy welcoming as begin as their commercial the -- our expect to demand back hotels, more and in their to slowly continue the we patrons

this pleased are progress for We with and about potential far the excited very thus the opportunity.

X, top second sales in what performance experiencing, wildlife The all the of Australian effort our in was are Kingdom, From call currently founded telephone quarter presence we history. inbound busy established were the during areas. replaced centers and as book in rewritten control aspects Control. X our are sales. we is pest in increased optimistic the sales for John X Environmental reflected record X companies. Adams our pest of July had we our independent Our residential Melbourne as very and our days top XX expertise control Central of Adelaide the and in completely in XX having the and company and these Adams quarter Essex. replaced. performance that XXXX, Pest, Rollins' in days Pest by results Australia, subsidiaries quarter friendly bring that remaining all second and United one certainly and These the announced the continue has July the On Australia. the will acquisitions third we continue U.S. the Last, Services to covering Services the been in This Vynck in our market also London largest In national globally, Albany have in solidifies environmentally U.K. Adams acquired acquisitions as general we latest sales U.K. as acquired in based Australia Van coverage Greater to leader Environmental company's made companies acquisition expand both into reflects presence X

these call are companies to We welcome their the best now Rollins to over turn and I very of very Eddie. teams to the pleased businesses. will portfolio fine

Paul Northen

John. Thank you,

X you and what release knew press some Today, share QX of future. the on insight our results time details at to that on know some we business. actual will July COVID-XX I'll some that to as the additional to what insight impact we Our today our related impact gave on

navigated the of with the dealt virus. a impacts have the of entirety operations all our we, During to health second have remarkably and that society, the economic related as quarter,

not Additionally, our to remote model did a and with work switched beat a their group miss successfully nonfield operation support.

As you been normalized see have X, collective efforts reporting results future. for the also keep their results financial and acquisition can lapped From please more on see we that and foreseeable mind our and the the initial will outstanding. we a much perspective, from outcome, in May quarter Clark

to drive commercial pest of set equipment, which our debt. services For improvements and keys higher up and included protective year-over-year residential materials and control bad potential the purchase included of the containment to growth, successful customer cost implemented showed lines for personal termite and costs, supplies quarter the provision margin quarter,

an million taxes $XXX.X over numbers, Looking income at million, before to was the was year's $XXX second year. million increase $XXX.X income XX.X% the revenue $XX.X of up second X.X% XX% the compared Income or quarter last revenue XXXX. was Net million. of quarter above prior of

per EBITDA XXXX. rose per to XX.X% Our earnings GAAP compared $XXX.X diluted share were share. $X.XX was and million

initial to begun normalize lapped we as numbers QX Clark in Our the the again have quarter. acquisition

million, was last billion Net first revenue $X.XXX an million. year. $XXX.X XX.X% X.X% or compared first Income $XXX.X X.X% of income months increase X year's the over $XXX prior up above XXXX. months taxes The of income was revenue was X of before to million

million rose per Our compared EBITDA XX.X% to share GAAP XXXX. were $X.XX diluted share. was and earnings per $XXX.X

This, vendors As business and QX impacted $X a PP&E call, purchasing for between and $X stated in and in million April. costs more million the manner with will our remainder we the new, similar the the year. aggressively began impact and QX to in transition we materials diversified of on in supplies our March along

look second lines a revenue Rollins for the take Let's the by quarter. service through

revenue, which pest from which XX.X%; As growth. which and revenue fumigation services revenue X.X% and from revenue, acquisitions approximately up the grew total, up our Again, residential control, ancillary services, our X.X% up other Gary control this XX% pricing fumigation, of our were digits our of ancillary organic down again XX% X.X%; Clark residential ex ex and remaining X.X% up by X.X%. yet quarter. made included was revenue, of X.X%. X.X%, XX.X%, reviewed, was and acquisitions increase from was made up our total decreased In was X.X%. up commercial up less XX% was pest and and total and of of strong termite that, wildlife note, And was made termite Also commercial up double

and the Gary As residential and his John working I made recognize quarter. customers which John to to call remotely our remarks, that our set records Both to our went revenue numerous growth. centers transition during trust of and the discussed on then helped but sales mentioned in want also drive the

customers our well-known the brands. full customer salesperson trust show PP&E helped also had in to of also that mind. Our in a PP&E technicians investment safety or in gave top Seeing comfort their our we

our X.X quarter. Google lower to reviews insights. margin routing Facebook positively increased feedback fuel score new from in initiatives. as ops supported improvements year's supported Our residential and NPS our better scheduling continued COVID-XX Marketing gain higher in by our and reductions points was The our quarter by from In salary on layoffs was a impacted percentage than which well for product gross XX.X% very and of as company XX.X% salary data shared significantly expense included the these areas showed last from This furloughs, total, has well year, expense our the further lower prior category. and recommendations. customers to

primarily and amortization amortization quarter of to million several contracts the materials $X discretionary customers the to with $XXX.X set $X.X for increased general million while as acquisitions, Clark. offset $XX.X due for Sales, up, from higher X.X% benefits, XX.X% or savings, $XXX,XXX our was to bad acquisitions, The second $X.X amortization anticipated commercial administrative purchases, reserve million, lower was Additionally, customer in savings supplies of quarter due and Depreciation produced or COVID-XX. which million of expenses our of from and but earlier. fuel, last quarter expenses equipment for discussed increase to debt, revenues, due year. million Depreciation including flat X.X%. intangible increased to acquired assets increased a and and an vehicles were the increased to salaries

Our is the mirror to general around the a commercial economy world. business

have Based are rate feel paying. a know at pest While for normal, our we those are this not adequately other in control than may commercial that at we time, still the customers be paying of they of slower on pandemic. reserved what we business the on that side many customers

plans. have we be to this capital our time, Our cash strong, flow and continues no at to allocation changes

we've priority, top continued the our globe. with our As M&A around activity

several more in quarter future. John have completed As for the plans the we mentioned, acquisitions in and

have paid on aggressively in more track we debt now late and are retired quarter, to XXXX. down our the During this

XXXX, compared had cash for period spent which million million last same for and the As CapEx, subsidiaries. the we were $XX.X to year, $XX.X million our position period our Clark. million million by June of included $XXX.X XX, which lower $XX compared the ended dividends in $XX.X We on held acquisitions cash, of in to XXXX. with foreign million period ended We on slightly which $XXX.X is paid

as to I our close, to and XXXX. through on that $X.XX paid to turn our beyond. reduction regular social cash We've in been to on released opportunity Gary, Before XXXX the we we and call XX, building areas we the on of highlight to the on look Directors we and close of the September have at I'll approved as you. environment, share forward on governance. for be share of going temporary that of business a the some dividend over I report August to The record Yesterday, posted back that XXXX. website, the the move the XX, sustainability want have a has taken report these XXXX first-ever of of things areas company will Board per stockholders

Gary Rollins

take We're Eddie. happy your to at you, this time. Thank questions

Operator

[Operator Instructions].

comes Tim question first with Our from William Mulrooney Blair.

Timothy Mulrooney

quarter in times. nice a difficult on Congrats these

Paul Northen

Thank you, for that.

Timothy Mulrooney

perspective wanted is much something I get up your of plenty questions I lately, that going the came how about quarter, on. to but on recently Given else have

A care into goes. services. they're pest provider residential getting it that announced major exterior here So lawn recently the

on pest how residential concerned? more not this thoughts you are that space? the pandemic, during well greatly control has competitive you view other service Given be would pest Are the Do have a issue Any up as encroaching held you seeing you often into providers appreciated. this threat?

Paul Northen

Yes.

what at he's a his XX-plus very a continues years hefty you say residential is in guess same it's I through fragmented what time, and years, But that time, space seen would So this I of at grow know. market, the we've over getting and of out can share Gary to very the as seen rate.

this market large share other as players very a mom-and-pop know a But share. has as market are other market that have I interaction of with John a We there have part healthy and well. had of regional healthy well. and also lot players companies very are some different

share I So what something don't know you've Gary if want the and maybe seen share to John, you past. in

John Wilson

with Thank residential of sure. their evolution Yes, you, Eddie. sort Tim, noncompete tick-and-flea now of with offering lawn an we've outdoor seen is, to only. essentially as mosquito their pest to from expired, what has offering services outdoor is sort Terminix go TruGreen to control,

cross-selling with the is relationship is the so those real struggle. customers a struggle. technician the And and And customer a

been still I would were those selling that have would they think successful if do, brands services. to easy cross-selling -- at ServiceMaster own and more both

a sled. certainly tough it it's watching, while So bears

do. they what see we'll So

Gary Rollins

know the may kind lawn in the the we decision way. country. number had company moving care And you three that other the in we of Many of were like

like the regulatory scrutiny, were would felt under And be Just more business pattern more the pressures the just and margin equaling we growth existing. care fact pattern see pest didn't control. lawn that

to has hard easier. it. in it for just apply big So they be but us, makes up nothing's comes them them. what speed have going in acquisitions welcome It's business, our to the a say for job when ramped to ramped doesn't competitor a out we the our and Eddie, we our do. we revenue. is Anytime prices, we do got of up challenge may Well, to That that the did guy just that

Timothy Mulrooney

everybody. that That's perspective, for you Thank helpful. very it. Got

that As pest. one question I'll Gary, was thought something you commercial about follow-up, ask my I mentioned interesting.

most, that the narrowing less, less, down as you're smaller said down I the May is and even down the the reading gap June. was way for quarter, interpret You is through me March. revenue since April July declines that to another Is month? was each shortfall each you down So say, June right? than month Am move was less to became

Paul Northen

say. what be economy Gary general. let of wants I'll we're going mirror obviously, and share, I in start, the I'll mean, to he Tim, the really to But

up early pockets think So as saw I decisions I began some you down. of that of people on And on tighten And get to majority the think kind better completely and think think are stimulus things kind is as flow, to things. bit But open April things better, a think you a the in I starting and shut and March want saw as side economy and else make got say I course, begin on you've some going people's when the I up see and different we commerce began hands, of little Do well. that? incrementally, again. seen into anything made was you of commercial the of as ebb that the little of into to hiring to checks that

Gary Rollins

would. I Yes,

we've as different for said the we what control. business. care been industries pest -- commercial a in there's patterns more our of pest indefinitely. they've Because the of typically than of in especially of their had accounts, coming -- think food-related lawn an minute. cannot naturally. Just before, indefinitely. they and do that's And of attention that without they've motivations We them seeing But health we're department I We can't control experience that the in And in realize is infestations large back. pest things. the that's one one got They defer control growth

-- And we they'll them back, so we we think continue back. coming come to but see really that think

Operator

next Weber Capital with Seth comes from RBC question Our Markets.

Emily McLaughlin

they question know routing that? I first for with And this Any us will that is Seth what McLaughlin cost quarter. Can strong to This much called They this actions? as clearly the how were quantify the on on frame And enhancements as you reflected very My is margins. volumes back you a benefit. morning. improve? and scheduling come temporary Emily way for out

Paul Northen

I if business the things. this would peak had that starting season. as for us the had point an had the hired just occur, organization. say time a possible for into in One, to was not from We pandemic a to occur, were -- at to standpoint, if virus of couple event that occur We it time. had best our

best well the align difficult cuts and home So to us to John able and made our and go and in here able as to be it as then office, as enabled we some go team be really could. quickly side payroll And through made prepared. decisions we through to some be

as on So if, standpoint seen in some this it's that. on like payroll what least we we standpoint. time moved in side, the come discretionary at business And than be as as and -- and worse been far, a and prepared especially fact, lot pockets from the areas we've we've so based a we've were of payroll to the a adjusted what we've feel some flourish, residential through seen back were

manage that. And monitor We'll at that. in to point the stolen I've to time. continue continue more to we we'll very unknowns saying do knowns side than So continue on are that there discretionary closely. my boss's still this

But the commercial across side be a our And appropriately residential to operations lot termite. most very -- the a on. are cases, lot commercial, of predominantly that something that of impacted, close brands we clear to sure in And that course, will be that been brands that of John have all that. commercial. both have So we'll have done a and have the staying managing have and brands we'll team the make we're cost that on focus

John Wilson

of impacted pretty our to I going last indicator in the commercial a that business -- if business X be remain good got weeks Emily, was our heavily to March termite and residential over most add. going strong. whereas is may We

put furlough them to and people we them as And very, them as were and able And work able we then that, to and we productive business back react So various commercial the people, on benefits. laser were those in our them happened, to circumstances on to recall maintained very then right of make away. side that quickly. further and --

teams Eddie And the hiring So terrific yet gear really for quite season. on hadn't the did we field in reacting. job into our our a as said, shifted high

factors So were those at play.

Emily McLaughlin

And quick still new of Okay. that win helpful. the revenue follow-up the what any quarter? I helping VitalClean. margin is if with that on the to it's you early the just And That's days, And there rate the take customers? clients in know and think offering contribution it's reopening? a way is but about are

Paul Northen

we're John time seating. are seeing we've their a incident seen So types -- period in the good inside for for are what been pieces to we break out. and ramping they're we're procurement say positive. are We One, trained trained, open to that some But continues group as then we're place. to other being get hands direction, of a I'll to any to of move if Those and get see that that like a has much I get product And launched, great and been places of us. having a a that folks up, very seen and to product able very that. We're in the that opportunities. team, get short think the takeout other economy in things. cross-sell into forward off. hats much move technicians different need. period again, going with where to salespeople What our couple of break of we'll seeing the out it's more fully of get seat pleased the -- the in our short delivery time. don't of now fully growth we've customers at the not have of more And places sort as quickly locations, instead typically restaurants so is

with situation. off that allow and able of by for trust them having run be point to their this us them plate, their another supporting customers it's to to we whole So more just one worry deal our it business takes

Operator

from Cortellacci with Mario Jefferies. comes question next Our

Mario Cortellacci

business. guess, I I now? what into guess, of little have of right commercial drill just, customers to I that Obviously, is commercial and do term? bankruptcies know that comes love any commercial back. you a But from to there, Is new wanted you're potentially I a revenue commercial impair it? from a obviously, going lost Have you wanted of term? customers seen what there seeing business I to could business longer disinfectant hopefully the the you'll as some the expect business commercial that there. some offset to economy but And going would rebound, just the the see, partial And you part to the longer further impairment gain be get your thoughts

Paul Northen

QX, Well, moving full going I think economy anybody year. to exactly don't has the on ball what look next the for is into like crystal QX

I out We've come will those seen think this. that bankruptcies will of of there question be there's that some already. no

course, when traffic headlines you you franchise have have like that having same don't that to down, that. you're and retail with having deal gone to things foot some with have, dealing major We do everything stores chains, have and of the restaurant they're groups that with bankrupt, shutting

with. the point. So best we the staying work customers based that's Residential, to we'll this at can them at we we're predominantly to an to take whatever appropriate. prepared work is And steps this long-term needed mention also a But customers. those with to to customers really our feel We we're impact help commercial reserve time, close we with this try set as in our We're with close seeing But there. and want that. can, we did those having that my with to we've do dealing from we're for as I we're not survive large seeing them help on the and to mitigate impact going we're then what to had staying with remarks have concern aside where appropriate relationships that. customers. that

Mario Cortellacci

then I'll being guys Obviously, step-up Is had just the we're I that's dynamics. growth driven are I And I and just congratulations from of surface turn obviously deeper maybe seeing on But or not and could residential, think just trajectory -- guess residential guess, you little you there have work-from-home one Great. the that a more, great that But down seeing? causing shift in anything strength that. the the over. long-term be anything a rate? below it in

Paul Northen

would I point point -- years X.X% the one, product. we of our continued revenue. back two X growth we mosquito roughly years ago, would X go to, it to if If go our things. was I total of back

people our lifestyle believe changed. Now they a it's good on a a we And revenue, is years It's to opportunity many know have Once has going to product that material you strong on. this necessarily grown point that folks, been now over their X.X% which they time for it, would but total this come. of think has at It's great have. yet, our ask retention rate time have add grow to not growth to our in highest the very again, period. service I X-year we if that were

one When take if on us customers think staying doubles I service to one likelihood their continue over us drive to with more that's So than of product period. than from time -- more us, thing that help market. going one they that's residential have that

on only pest they stay us. a that were we control that, time they So and customer, if mosquito their doubles now with add it average to

of the we're out us the what one we services So would folks services into from good offer from are far move from that are shift help of stereotypically need towards that homeowners homeowners, category, that's second the that turnover fall are as they less that. for continue seem sure going seeing the that we're be going into growing and paying a take standpoint, gravitate food services, as millennials make to like we're homeowners the to would are general gravitate there, things that there. that paying the out that point kind that the newest I the are newest from the customer as future. make when then And that the we have seeing that there, newest potentially And for a to we homeowners believe to -- we delivery, more out are also rate the newest

Gary Rollins

if the one the and add more in And the now been technology. in is thing. at of they they particular, I end before customer heavily We've monthly. had by And Eddie, quarterly could provide we And ways can of one those can investing previous us. customer paid quarter. they pay the pay areas, quite that

So has typically about, And call comment is think customer bundling, highly Eddie pay, as it customer a good starts concerned. that's sold. as acceptable. ways if multiple when other been they're far that can so And a and that satisfaction our there's we they made helped services, that's I lot real and

Operator

Instructions]. [Operator

Our next comes with from Stifel. Michael question Hoffman

Michael Hoffman

what your But -- I you're service That because are positions. of even -- but meant the... of commercial, the even pest comment I I they indicating? to questions getting well, what some try ask even open, VitalClean, I'd is maybe that part in turn is X XX, point. yet, not of and in your -- that about right? bit into yet, was previous part and I service the opening comment of VitalClean doing to be, though out thread clarity, part of is were going little of that if pest I'm expect somehow some to tease questions was time. Gary, say I'm appreciate a not were the be the the better I and about they're and open is to know VitalClean. it's you Not think you start Because like the trying that's

Gary Rollins

more HR right part PR back. now forth. view, more dangers. of to able VitalClean that know And what so they've dangers maintain to be the the of and the taking is -- they're are Well, more companies their place and read about coming to practices. about a is the of doing tell point employees point they health they want from And also, virus good They

continuation should So we that's will quarter, customers. I ready wonderful this as be experts this are of as seeing group then been the and mean a correct, be past are if far a beyond. of and it factor

Michael Hoffman

because And restarted again being of open your infestation pest customers some back without comment?

Paul Northen

Yes.

by we've that's think time the is that... I gone what as seen has

Michael Hoffman

better. I what was That's understand Okay. to trying

there those redistributed regards all you with trust traded with now there's XXD or or XX, shares? June be a Are to those whatever the distributions can on dissolve can trusts to with original distribution. to a on done? then and do -- restrictions allowed trust those filed shares, are and that regards And any want Okay. they individual having shares not how all smaller the they Are those

Paul Northen

times Mike, setup the there multiple years have. recent they change. has update most was that updated needed was throughout no been that just This for the and an material

Michael Hoffman

about on the but the that restrictions Okay, answer trading didn't question shares.

Paul Northen

that that that say if say I done you did was This no were an did back over material I update just there it, and read time. they've changes. that go periodically

Operator

comments. There are the to no further questions. to turn floor closing I'd Gary for over like

Gary Rollins

want to don't we We do we thank Thank that you participating. than for know you. -- know. more I still there's unfortunately,

success other of I will and weekly, our impacting you more that disease the our unknown... think there's aspects than evaluate that most components spike known and but to on defensive are weekly we're following I more agree to the quote you're know of policy. various management offensive having the in key dialogue people, meet every didn't going just monthly we or and -- in and And the different

Paul Northen

It's have so right. borrow it. good. All I

Gary Rollins

But again. for the to thank with next times copyright support challenging you you person on and during call. these here. Thank forward look speaking the your I'm you,

Operator

today's teleconference. concludes This

at participation. your for lines and this your thank disconnect may you time, You

Rollins (ROL) 29 Jul 202020 Q2 Earnings call transcript