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  "documentTitle": "Rollins Inc. (ROL)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-10-04 00:00:00",
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  "notes": "Uses direct quotes from CFO Ingall-Tombs to demonstrate performance divergence.",
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      "kind": "callout",
      "text": "While Rollins has recently referenced customer pushback from price increases, Rentokil has talked about increasing, and now stable customer retention despite price increases.",
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      "text": "customer retention: 86.7%",
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      "text": "“Despite price increases, customer retention at 86.5% is now actually above pre pandemic levels.” — CFO Ingall-Tombs, Interim 2022, Sept 28, 2022; “Despite price increases, customer retention is up over 1 percentage point year-on-year at 86.6%.” — CFO Ingall-Tombs, 2022 Preliminary, March 16, 2023; “Despite price increases, customer retention was stable at 86.7%.” — CFO Ingall-Tombs, H1 2023, July 27, 2023",
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      "text": "Source: 2022 Preliminary Call, Interim 2022 Call H1 2023 Call",
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      "text": "RTO Comments On Pricing And Retention",
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      "text": "While Rollins Is Experiencing Pressure, Rentokil’s Customer Retention Has Improved",
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