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  "documentTitle": "Rollins Inc. (ROL)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-10-04 00:00:00",
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  "notes": "Uses red highlights and annotations to point out the contradiction between management's initial confidence and later admission of pushback.",
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      "kind": "callout",
      "text": "Note: Not realizing full 4% indicates resistance",
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      "kind": "paragraph",
      "text": "Spruce Point believes that Rollins aggressive price increases are starting to meet resistance from customers. Historical pricing power is 1%-2% but Rollins has now pulled forward two annual 4% increases. Based on commentary from management, the tone has changed from acceptance by customers to resistance.",
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      "kind": "quote",
      "text": "I would say we've had a little more pushback than we've had in prior years, but nothing that's insurmountable. — CEO Gahlhoff, Q2 2023 Call",
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      "text": "Source: Q1 2022 Call, Q2 2022 Call, Q4 2022 Call, Q2 2023 Call",
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      "text": "Chronological list of management quotes regarding pricing and inflation.",
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      "kind": "title",
      "text": "Evidence That Consumers Are Resisting Rollins' Accelerated And Aggressive Price Increases",
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