MEMPHIS, TENN.— According to an article from the Memphis Commercial Appeal, ServiceMaster “reported a third-quarter operating loss of $724 million, as the weak performance of its TruGreen subsidiary continued to drag on results.”
If TruGreen is excluded from ServiceMaster’s numbers for its other six businesses, however, the company’s revenue actually rose 4.2 percent and operating performance was up nearly 7 percent, according to a ServiceMaster press release.
In the press release, Hank Mullany, CEO of ServiceMaster and interim president of TruGreen in the wake of the departure of TruGreen President Tom Brackett in October, points out that “We will get TruGreen on track, and we’re putting the people, processes and technology in place to help make that happen. We believe TruGreen has the right fundamentals and is positioned for success in the marketplace. We’re No. 1 in the professional lawn care service category and four times larger than our nearest competitor based on revenue. We have the size and scale to invest in new technology and provide new, improved services. We’re already making changes to help drive sustainable, profitable growth at TruGreen.”
