SERV - Why Servicemaster Stock Rose 10.6% Today
Shares of Servicemaster Global Holdings (NYSE: SERV) closed Thursday's trading 10.6% higher thanks to a bullish update of the company's second-quarter guidance targets.
The company behind household-name service brands such as Terminix pest control, Merry Maids cleaning services, and AmeriSpec home inspections now sees second-quarter sales from continuing operations landing near $518 million. Adjusted EBITDA profits should stop in the neighborhood of $110 million. The analyst consensus had been pointing to sales in the vicinity of $476 million.
Management had declined to offer any firm guidance targets in May's first-quarter report, and Servicemaster also withdrew its full-year targets at that point.