The total William Blair/PCO M&A Specialists Pest Index increased 7 percent year-over-year in August 2024, decelerating from a strong 14 percent result in July. The August results represent a decelerating from a 14 percent result in July and are below the long-term average index growth rate of 10 percent.
“The deceleration in August was driven primarily by the indices with consumer-based exposure, namely the residential index and the termite index,” said William Blair Equity Researcher Tim Mulrooney. “The commercial index continues to show strong performance year-to-date.“
The month of August had one less working day in 2024 relative to last year, he notes. Excluding this, Mulrooney estimates August results would have been in line with the long-term historical average.
“It’s been an interesting year. It appears the consumer is getting defensive on discretionary items, but the need for essential services is still intact. I think when the year shakes out after December, we’ll look back on 2024 as a year of average growth,” said Dan Gordon, CPA, Pest Management Professional’s financial columnist and a partner in PCO Bookkeepers & M&A Specialists.
The month’s results by segment include:
- Residential Pest Index increased 15 percent year-over-year.
- Commercial Pest Index increased 13 percent year-over-year.
- Termite Index increased 2 percent year-over year.
- Bed Bug Index increased 4 percent year-over-year.
- Mosquito Index increased 10 percent year-over-year.
About the William Blair/PCO Bookkeepers & M&A Specialists Pest Index
The William Blair/PCO Bookkeepers & M&A Specialists Pest Index tracks the monthly performance of 146 privately held pest control companies across 38 states with combined annual 2023 revenue of $515 million. The purpose of the report is to track the monthly performance of several different U.S. pest markets. It does not include residential door-to-door companies.
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