Thanks, good everyone. Jerry, morning, and
Our continued execution XXXX. results me highlights team, for let few strong begin with the the quarter Rollins and for and the by a year reflect
with strong First, service each across our XX.X% delivered revenue the robust growth growth we for of of offerings. year
meaningful organic year, be a profile. see to part while our encouraging X.X% growth the growth of acquisitions for continue of to was It
pricing on investments in growth improvement while investing healthy, progress to and long-term in continue on support margin The made business. we delivering to we XXXX while improvement. also future focus Second, environment significant the remains profitability making
impact both incremental for margin of the million finally, materialized and and When Growth X weighed and is operations respectively, from operating year XX%, in year. quarter versus the the $XXX our by XX% cash And you cash range. pressure million, underlying delivered isolate XX% year. factors, the flow up flow investments on $XXX of that free last was margins of solidly and incremental auto that these the developments generated December, legacy on claims the for in we
balanced capital shareholders XXXX execute growing returning flow cash in $XXX million dividend. strong Our strategy almost deploying while capital a us for investing on a of through focus performance allocation enabled with cash to a growth to
The team our organic fourth at revenue delivered the and growth improvement our year growth in It to the to of in XX.X% quarter strongest Turning strong quarter organic was strong second see up with year. X.X%. the certainly rate a of revenue performance. encouraging the half
fourth quarter, and XX.X%. with in the the commercial of pest In increased residential, across and commercial control up growth services healthy was in and increased ancillary growth portfolio, X.X% ancillary. in residential revenue related was X.X%, termite X.X% termite Organic XX.X% and X.X%
growth portfolio. investments are our resources and efforts customer-facing stronger paying creation demand Our in organic off with in
XX.X% claims, improved to and looking with well to basis healthy at needed staffing support associated people, saw XX in in margins of the supplies and trends. strong underlying people well insurance points levels and demand costs despite costs, buckets materials quarter, X materials our and as improvements we as margin fleet, as supplies major Gross service as
Fleet was revenue points a in insurance previously basis developments were headwind that mentioned. margins by legacy increased to neutral versus year. claims a Quarterly the auto we and by SG&A driven quarter, on percentage of while XX last as claims costs
deleverage growth administrative We continue from leverage in associated initiatives. people to with and which selling expenses offset somewhat costs marketing see
of from have costs to about of reinvest basis that this XXXX, and the and initiatives. have leverage intent expenses Unpacking selling savings in back sales we points in XX have further, our we administrative consistently the employees into marketing administrative marketing And and talked expenses. seen invested end since
we to margin well as do expansion. an continue costs forward, as administrative see to drive Going opportunity to our leverage further investment
last million, year. up was was $XXX income $XXX quarter EBITDA operating was X.X% operating million XX.X%. adjusted Fourth Quarterly GAAP EBITDA was income and X.X% adjusted up $XXX versus and year-over-year, margin million,
year. by and The margins claims tax quarter in our saw respect with leverage investments, the effective gross While impacted negatively was growth profit, rate we and for XX% nice quarter. the EBITDA for XX.X% experience the to full were
tax For Quarterly rate XXXX, an effective $XXX million share. approximately per are XX%. we income was of or net $X.XX GAAP expecting
associated for For in quarter a the pretax million $X fourth these approximately from per we million $X.XX the $XXX XX% totaling fourth under Considering adjustments, quarter. year same had ago. adjusted was pretax increasing items Fox the acquisition-related adjustments just with income net share, of quarter, expense the or non-GAAP period
to us allowed in QX the a by quarter XXXX. that flow million second the flow fourth payment. million. XX% This flow Cash be an benefit of Helene increased estimated quarter the $XXX tax quarter have operations would defer in now to disaster balance cash paid relief in from Hurricane measure $XX and and occurred impacted payment sheet. with Operating will Turning granted did to cash those to
flow cash year. the generated a $XXX tax impact that XXX% percent conversion, a XX% operating $XXX of adjusting approximately flow was Cash versus deferred of quarter, was last cash We converted of million payment. for of increase for million the free positive into the earnings, income and
Jerry credit ratings to I and corporate a take highlight from assignment wanted investment-grade Fitch mentioned, S&P. As to moment of the
The for a our have has credit Board backstopped credit a a announced we billion and with existing rating. agencies Fitch $X billion commercial paper public S&P issuing that BBB our company rating also the program are approved BBB+ announcing facility. ratings Today, revolving $X by
helping in provide this coming shorter-term the We more liquidity to weeks, options. work start to flexibility in place and will put efficient
enable the has our last back access this structure considerable been most our goal capital have effort A the years. allocation. made capital We progress and balanced capital ensure key disciplined several to to and efficient over modernizing to further in office of approach to
One a ability cost-efficient using to capital. forward, of has These investment-grade our the ensuring ratings ratings. big represent to top grow step been achieve our most priorities
alongside Throughout great also through future. we continue has process. through team investment-grade helping It team. an lens, members We've ratings our have and managed our will on Brady to we Brady Treasurer. been the to so many Brady in working guide as is recently history, welcomed do the the have of Knudsen us new business and this our
a rating healthy flow under to We disciplined and Xx supported well are maintaining committed cash allocation. with by strong generation capital leverage investment-grade
definition our in updated have to better of conservative we the forward, more rating Going with which view. results align a agencies, leverage
found currently leverage would but this press reconciliation at leverage, A in stand be our release, our of using X.Xx. can stands our -- definition calculation
XXXX, we to by look remain markets strength we and by the execution our encouraged the of teams. As our
incremental focused and We M&A. are growth a approach margins, further and complemented delivering strategic year robust healthy by on disciplined another to of
growth to the from We least of continue X% additional M&A at with to X% of growth X%. organic in to expect X% range
we while flow that XXXX. focused incremental rate a will convert Additionally, We opportunities. profile XXX% above to is on at investing that continue margin growth in in are improving again anticipate cash our
I'll turn call over back to the that, Jerry. With
