ServiceMaster Global Holdings (SERV) Tops Q4 EPS by 1c; New Stock Buyback Program Approved

ServiceMaster Global Holdings (NYSE: SERV) reported Q4 EPS of $0.33, $0.01 better than the analyst estimate of $0.32. Revenue for the quarter came in at $601 million versus the consensus estimate of $603.99 million.

On February 23, 2016, the company’s Board of Directors authorized a three-year share repurchase program, under which it may repurchase up to $300 million of outstanding common stock. The company expects to fund the share repurchases from operating cash flow. The share repurchase program is part of the company’s capital allocation strategy that focuses on sustainable growth and maximizing shareholder value. As part of the strategy, the company has set a target Net Debt(5) to Adjusted EBITDA ratio range of 2.5x to 3.0x.

For earnings history and earnings-related data on ServiceMaster Global Holdings (SERV) click here.

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