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THE DAVEY BULLETIN
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May/June 2022
2021 RECORD REVENUE, UPDATES TO CORPORATE OFFICE
AND DAVEY SEED CAMPUS HIGHLIGHTS OF
DAVEY ANNUAL SHAREHOLDERS' MEETING
Davey employees, retirees and executive leadership
celebrated growth at Davey with an in-person gathering
for the Annual Shareholders' Meeting in Kent in May.
While in-person attendance was an option, the shareholders'
meeting also featured a live broadcast accessible
to employees.
Davey Chairman, President and CEO Pat Covey, along with
Davey Executive Vice President and Chief Financial Officer
Joe Paul, gave an overview of operations and financial
performance for 2021 and touched on a number of other
company developments under way in 2022.
A RECORD REVENUE YEAR IN 2021
The Davey Company reached $1.379 billion in total annual
revenue in 2021. That represented an increase of 6.8 percent
over the total annual revenue of $1.291 billion recorded
in 2020.
Covey pointed to strong sales in the Residential/Commercial
services segment of the company and U.S. Utility services,
on both the East and West coasts, as reasons for the strong
year in 2021.
"Sales were up 14 percent on the U.S. tree care side,"
Covey said. "We had great demand and great productivity.
Everything we worked for to get the right people in the right
spots really panned out."
Covey said Eastern Utility services faced challenges related
to high labor and fuel costs but sales were up 3.8 percent
from 2020, while western utility operations under the Davey
Tree Surgery Company were able to pick up additional work
in the scond half of the year, Covey said.
"Larry Evans (executive vice president and general manager,
Davey Surgery), Kevin Peters (vice president, operations,
Davey Surgery) and the team out West continue to do an
amazing job," Covey said.
BUILDING FOR OUR FUTURE
The meeting also included updates on the third-wing
addition under construction at the corporate office and the
specialized training and research facility being planned and
developed across the street from the corporate office.
Covey said the 38,400-square-foot addition to the corporate
office is on schedule to be completed by the end of the
third quarter of this year. At that time, employees currently
working in the existing two wings will temporarily relocate
to the third wing so the rest of the building can receive
needed updates to windows, HVAC and other systems.
"We will have a completely either new or refurbished
corporate facility by spring or summer of 2023," he said.
Covey also announced the official name for the Davey
Tree SEED (Science, Employee Education and Develop-
ment) Campus currently under design on the 170-plus
acre property across from the corporate office. Design
planning continues for the property, which will include a
25,000-square-foot
training center and associated offices, a 10,700-square-foot
indoor climbing center, 18 spans of non-energized utility
LEADERSHIP
