12
THE DAVEY BULLETIN
|
May/June 2026
LEADERSHIP
making a one-time adjustment of $34.5 million in 2025 to
address insurance claim expenses accumulated over the
past number of years that are anticipated to be completed
in 2026.
Despite these challenges, Paul noted that healthy earnings
and a continued strong demand for many of the company's
core services contributed to a positive stock valuation at the
end of 2025, with share prices valued at $27.60 per share,
or a 14.5% increase over the 2024 year-end share price.
"Finishing the year on a positive note, with a significant
increase to the share price, is always motivational to our
employee owners and helps to energize our teams moving
into 2026," Paul said.
LOOKING AHEAD TO 2026
Covey reflected on significant accomplishments in 2025,
strategic partnerships, leadership transitions, and strong
operations performances by several key segments of the
company before turning to look ahead to 2026.
Some of these highlights included: three market
expansions in R/C services; feedback from the 2025
2026 DAVEY ANNUAL SHAREHOLDERS' MEETING
REFLECTS ON STRONG 2025 DESPITE CHALLENGES
The 2026 Davey Annual Shareholders' Meeting was held in
May at the Davey SEED (Science, Employee Education and
Development) Campus, where Davey Chairman, President
and CEO Pat Covey and Executive Vice President, Chief
Financial Officer and Assistant Secretary Joe Paul presented
to shareholders on the successes and challenges the
company experienced in 2025.
A RECORD REVENUE YEAR IN 2025
The Davey Company reached $1.947 billion in total annual
revenue in 2025. That represented an increase of 5.8 percent
over the total annual revenue of $1.841 billion in 2024.
Paul noted that the 5.8 percent revenue increase came in
below the average annual increase of 9.1 percent the
company had experienced during the past 10 years and
attributed that difference to several factors, including the
loss of a significant utility services contract on the West
Coast, softening consumer demand in the homeowner
market, and a lack of any significant storm response
work last fall.
Paul also discussed the details behind the company
Davey Chairman, President and CEO Pat Covey speaks
to the audience at the 2026 Davey Annual Shareholders'
Meeting held May 19, 2026, at the SEED Campus.
