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ServiceMaster Global Q1 profit climbs YOY

ServiceMaster Global Holdings Inc. said its first-quarter normalized net income was 28 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS increased 55.5% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $37.5 million, an increase from $16.3 million in the year-earlier period.

The normalized profit margin increased to 6.5% from 3.0% in the year-earlier period.

Total revenue increased 7.1% on an annual basis to $571.0 million from $533.0 million, and total operating expenses rose on an annual basis to $466.0 million from $452.0 million.

Reported net income totaled $28.6 million, or 21 cents per share, compared to a loss of $18.3 million, or a loss of 20 cents per share, in the prior-year period.