ServiceTitan Data: Impact of COVID-19 on Service Industry
In response to the Covid-19 pandemic, and to measure its impact on contractors, ServiceTitan has analyzed its user data and aggregated from the more than 4,000 contractors across the US and Canada using ServiceTitan. The interactive data module below updates daily — and our analysis is updated weekly. The weekly views are based on weeks starting Thursday and ending Wednesday.
July 9 Update
Key takeaway: ServiceTitan data shows that revenue had a very strong week in year-over-year numbers. Due to the implications of the holiday week, we are waiting to see if this is a trend.
In aggregate, revenue was up +15% YoY for the week of July 2-8, compared with up +6.5% for the week of June 25-July 1. There is reason to be cautious of this data, since July 4th fell on a Thursday in 2019 and on a Saturday this year. This means that 2020 had one more high-job weekday than 2019, which skews the YoY data.
Calls were up +18% this week and although a similar holiday-weekend caveat applies, there were still good numbers after the weekend with calls up +15% YoY from Monday to Wednesday. There are reports of a nationwide heat wave settling in for July, so we will monitor call demand closely.
July 2 Summary
Key takeaway: ServiceTitan data shows that revenue is still stronger than 2019, but some regions are seeing a downward trend with Covid-19 outbreaks being a potential factor.
In aggregate, revenue was up 3.5% year over year for the week of June 25-July 1. This is the ninth consecutive week where aggregate revenue has been higher than 2019. This was a slight drop from the previous week, when revenue was up +7.5% YoY. Calls were down -3% this past week, which is down considerably from the past five weeks. This week was more in line with call volume before the Covid crisis, which was also tracking slightly below 2019.
Two of the hardest-hit states, New York and New Jersey, had been trending in a positive direction for the past three weeks. New York remained very strong this past week, posting a YoY revenue increase of 14%, which is the highest since the crisis and second-highest this year. New Jersey saw a YoY decrease of -11.5%, which may be a one week anomaly, since it has been tracking with New York. We will keep an eye on these dynamics.
Several states have been struggling with Covid outbreaks over the past few weeks. Some of these states are holding up well with their key metrics, even with this influx of cases. Florida, for example, was +5% in revenue this past week and had a +24% increase in calls, which is the state’s best number for calls this year.
States such as Texas, Oklahoma, and Oregon were sharply down from 2019 with a combined revenue decrease of -8.5%. These states, however, were +6% in calls last week. Other Covid-impacted states like California, Arizona, and Utah were essentially flat in revenue and down -8% in calls. This is a highly fluid situation and we will continue to monitor these trends.
As we continue to navigate these changing times, ServiceTitan has assembled key features to assist contractors as you plan for the short and long-term:
The COVID-19 Playbook for Contractors has actionable recommendations and examples from contractors from around the country who are thriving in the current environment.
The data module below includes calls, future jobs and cancellations, in addition to revenue — and the data is sortable by state wherever our data allows. (Some states must be omitted in order to ensure that our clients’ data remains anonymous.)
Note: Some states were omitted from the drop-down menu to ensure that clients' data remains anonymous.
JUNE 25 SUMMARY
ServiceTitan data shows that revenue and calls are still higher than 2019 in aggregate — but that regional differences are surfacing, with some areas still very strong and others at or below 2019 levels.
For the week of June 18-25, revenue remained positive, up +6% year-over-year, compared with +12% the previous two weeks. This is similar to the average week before the Covid-19 pandemic began, and is the eighth consecutive week that revenue has been higher than 2019. Similar to last week, there were large differences between regions of the country.
New York and New Jersey continue to be above 2019 revenue levels for the third consecutive week, at +6% year-over-year. Calls remain quite high — with New York up +62% YoY and New Jersey up +22% this week, showing that demand continues to be high in this region, which has apparently beaten the Covid-19 curve.
The Midwest and Great Lakes region continues to be strong in revenue. In aggregate, revenue was up +24.5% in the states of Illinois, Iowa, Minnesota, Ohio, Pennsylvania, and Wisconsin for the week of June 18-25. This was the first time since April 2-8 that revenue hadn’t improved upon the previous week, but was the fourth straight week it was up more than 23% year-over-year.
The Western states of California and Arizona were down -5.5% YoY for the week of June 18-25, roughly matching the decrease of -5% the previous week. This is the third straight week of declines, after seven straight weeks of recovery. Calls nearly matched 2019 levels this week, a solid improvement from the previous two weeks. We will monitor these states closely to see if revenue starts to show improvement in the next week.
Lastly, two other states that have seen an influx of Covid-19 cases are Texas and Florida. Combined, their revenue was down -1.5% YoY this week, compared to up +15% the previous week. Calls were also down -7% year-over-year for the two states. As Texas paused its reopening this week, and Florida continued to show record numbers of coronavirus cases, we’ll be monitoring these states closely in the weeks to come.
JUNE 18 SUMMARY
ServiceTitan data shows that revenue remains strong in aggregate. Leading indicators, however, suggest that the recovery may be tapering off in specific regions.
For the week of June 11-17, revenue was up +11% year-over-year, compared with 12% the week of June 4-10. This is now the seventh consecutive week with positive YoY numbers for revenue. There were, however, stark regional differences this past week.
In New York and New Jersey, two of the earliest hard-hit states, revenue has been trending high for two weeks in a row: +6% YoY for the week of June 11-17 and +9% for June 4-10. Calls have been extremely high in this region — up 48% this current week, down from an astounding 60% the week before. This shows that revenue still has room to grow in the coming weeks.
In the Midwest and Great Lakes region, which includes Illinois, Iowa, Minnesota, Ohio, Pennsylvania, and Wisconsin revenue has been over +30% YoY for two weeks in a row, and up +38% YoY for the past week. Calls, while not as high as they had been the previous three weeks, were still very encouraging, up +35% YoY.
In the Western states Arizona and California, where Covid cases have been increasing, revenue has decreased. Starting in May, these states combined averaged over +15% YoY for five weeks straight. This dropped to +6% YoY the week of June 4-10 and was down -8% YoY last week. Calls have also been much lower in the past two weeks. It was -15% YoY this week, which was up from -28% YoY the previous week.
JUNE 11 SUMMARY
ServiceTitan data shows that this past week, revenue reached its highest year-over-year mark since before the crisis began. Other indicators suggest that demand is heating up for the summer.
Revenue for the week of June 4-10 was up +11% year-over-year, compared with 8.7% the week of May 28-June 3. This was the sixth consecutive week of positive year-over-year growth. Revenue had been around +8% before the crisis, so this is a good sign of where the industry is trending.
Call volume had another positive jump at +23.5% YoY for the week of June 4-10, compared to +16% in the previous week. This is much higher than where calls were before the crisis, which was around -5% YoY. Our data shows that revenue increases generally follow call increases, so if these trends remain true, we should see the revenue recovery continue.
Regionally, there were continued strengths:
New York had its second straight week in positive territory, up +7% YoY
New Jersey saw its first week above 2019 numbers since March, with an increase in revenue of 9.4% YoY
Calls in both New York and New Jersey were above +60% YoY, which shows that demand should be high going into this week.
Pennsylvania had its second straight strong week at +20% in revenue YoY, after 9 straight weeks in negative territory
Michigan, one of the hardest-hit midwest states, was up +31% in YoY revenue last week
This week, however, the number of new Covid cases shot up by more than 50% in Arizona, Florida, New Mexico and Oregon. In Arizona, Oregon and California, there were drops of more than 10% for call demand, year-over-year, last week. We’ll be monitoring each of those states closely in the week ahead.
JUNE 4 SUMMARY
ServiceTitan data shows that the recovery in revenue has continued. This is the fifth consecutive week with revenue above 2019 numbers — and this past week is the highest since the crisis began in mid-March.
Revenue for the week of May 28-June 3 was up +7% year-over-year, compared with +5% the week of May 21-27. This is less than 1 percentage point away from the average YoY numbers from before the crisis — and 23 percentage points better than the low point of April 9-15, when revenue was down -16% YoY.
Calls continue to be a very encouraging metric with an increase of +17% this past week, on top of an increase of +14% the week of May 21-27. The two very positive weeks are the first with year-over-year growth since Feb. 13-19, and are significantly higher than where calls were before the crisis, when they had actually been weaker than 2019.
Future jobs had the most eye-catching change from the previous week with an increase of +13.3% YoY for May 28-June 3, compared to an increase of +3.5% the week of May 21-27. This, similar to calls, is significantly higher to the numbers before the Covid outbreak. As future jobs and calls go up, ticket size has been lower during this recovery at -1.2% YoY this past week. The dynamic seems to be more jobs but at lower ticket prices — but we will continue to monitor this trend.
Lastly, we have been tracking New York for several weeks now, since it was the area most impacted by Covid for cases, as well as revenue. New York revenue was positive year-over-year for the first time since March 12-18, with an increase of +8.3% — an astonishing recovery from the low point of being down -49% YoY April 9-16. New York call volume was also +40% YoY, so there may be room for revenue to grow in the coming weeks.
MAY 29 UPDATE
ServiceTitan data shows that for the first time since this crisis began, revenue has risen above 2019 levels, after three weeks of it being roughly equal to 2019. There was also a dramatic increase in calls, year-over-year — the biggest increase in all of 2020, and the first time calls have been positive year-over-year since early February.
For the past three weeks, starting with the last week in April, revenue had leveled off, nearly even with 2019. For the week of May 21-27, revenue in aggregate is up +4% over 2019. This is the best week in comparative revenue since March 19-25, which is when the lockdowns began officially in a number of states.
An extremely encouraging sign is the healthy demand shown through calls this week. Calls shot up +15% year-over-year, which is by far the highest week in 2020 — even with Memorial Day on Monday. The week of May 14-20, calls were down 3.2% year-over-year, resulting in a one-week jump of more than 18% when compared to 2019 levels. Calls had been in negative territory since the crisis began, bottoming out at down -31.6% around the start of April.
The demand surge is especially acute in the Midwest and Great Lakes region. Several states, such as Iowa, Minnesota, Michigan, Illinois, Ohio, Wisconsin and Indiana saw call volume increase 90% in aggregate year over year. Some specifics:
Michigan call volume surged +212% year-over-year
Wisconsin call volume surged +136% year-over-year
Ohio call volume was up +108% year-over-year
Some but not all of these states are also seeing gains in revenue, so we will keep tracking this region to see if this dynamic continues.
The rebound also continues in some of the hardest-hit Northeast states. New York revenue climbed for the seventh straight week, now at -6% year-over-year — and calls shot up to +50% year-over-year this week. Massachusetts revenue jumped 17% week over week, now barely topping 2019 levels, up +0.5%.
MAY 22 UPDATE
ServiceTitan data shows that revenue has been stable for three consecutive weeks and that calls and future jobs continue to trend in an upward direction.
Revenue, in aggregate, was up +0.1% year-over-year for the week of May 14-20, nearly identical to the -0.4% year-over-year decrease for the week of May 7-13 — and the +0.9% increase the week of April 30-May 6.
The positive trends of calls and future jobs continue as well:
Calls improved to -2.5% year over year, which is the best week since the crisis began.
Future jobs are also at a Covid-period high with -0.5% YoY numbers, which is up from -2% the previous week.
Regionally, it has been stable the past week with the exception of some improvement in the Southeastern region of the U.S., where revenue was looking weak relative to the rest of the country during the week of May 7-13. This past week, revenue has picked up to an increase of +.5% year-over-year, compared to a -13% decrease the week of May 7-13. Other indicators are also looking stronger in this region.
We will continue to analyze how different parts of the country recover from Covid-19, especially as states start to reopen their economies.
MAY 15 UPDATE
ServiceTitan data shows that after the major jump last week, revenue has stabilized in aggregate, while regional differences remain.
Year over year, revenue was down -1% for the week of May 7-13 compared to a very slight increase (+0.4%) the previous week. Two weeks ago (April 23-29) revenue was down 12% year over year.
The leading indicators of calls and future jobs were also quite close to last week:
Call leads were down -5.5% for May 7-13, compared to -3.5% for April 30-May 6.
Future jobs improved to down -3% for May 7-13, compared to -5% for April 30-May 6.
There were some differences regionally that we will be tracking. Western states, such as California, Arizona, Colorado, and Washington, have been tracking above +10% YoY for the past two weeks. Arizona was up 31% year-over-year last week. Washington, one of the earliest states impacted by Covid-19, jumped from down 22% for April 23-29 to up 2% year-over-year April 30-May 6.
This is in contrast to the Southeastern region of the U.S., where revenue has dropped below -10% YoY this past week in several states.
Another area we’ve been monitoring closely is New York and New Jersey, both of which continue to improve as they recover from the Covid-19 pandemic. The combined revenue of these states climbed to -11.5% year-over-year for May 7-13, as compared to down -27.5% the previous week, which is up from -43% at the low.
MAY 8 UPDATE
ServiceTitan data shows that in aggregate, this was the best week for contractor revenue, year-over-year, since the crisis began.
Revenue was slightly up (+0.2%), year-over-year, for the week of April 30-May 6, as compared to -12.3% the previous week. This was the first week since March 19-25 that year-over-year revenue increased.
The rebound was most dramatic in states like Arizona and California, where both a heat wave and the initial moves toward reopening the states gave big lifts to revenue:
Revenue in Arizona was up +30% year-over-year for April 30-May 6, as compared to down -4% the previous week (a 34% swing).
Revenue in California was up +7% year-over-year for April 30-May 6, as compared to down -17% the previous week (a 24% swing). It was the first positive week, year-over-year, since March 5-11, and included a day (April 30) in which revenue increased 51% over last year.
Interestingly, it appears that the average ticket size of jobs completed were big keys to this increase as well — as both states’ ticket size improved to +10% year-over-year, compared to down -10% the previous week.
States that have borne the early brunt of Covid-19 cases also had an improved week, although not at the level of the previously mentioned states. New York had its best revenue week since March 19-25, with revenue down -25.5% year-over-year. This is a remarkable improvement from being down -50% only three weeks ago. The leading indicator of calls had a high improvement of -8% from -32%, which means we will monitor for revenue to recover even more in the coming weeks.
MAY 1 UPDATE
ServiceTitan data shows that indicators of demand — such as calls and future jobs — had their highest one-week year-over-year increase since the crisis began. Revenue, however, remains around where it was last week.
The rise in call leads was the biggest change in the past week — now at a year-over-year decrease of -10% for the week of April 23-29, compared to -20% for the week of April 16-22. For certain states the increase was especially dramatic: California went from -29% YoY to +11% YoY, while Arizona surged from -11% to +23%.
Future jobs improved to -11% YoY from -14.5% the previous week, which is the third week in a row that this metric has trended in a positive direction.
In aggregate, revenue was at -13.5% year-over-year for the week of April 23-29, roughly comparable to the week of April 16-22, where it was -11.5% YoY.
Besides call leads, California, which has had very warm weather the past week, improved in other areas. Revenue increased to -17.5% YoY from -26% and future jobs rose to -12% from -20%.
One interesting dynamic in California and some other states that had warm weather is that ticket sizes decreased compared to last year. We will be monitoring this dynamic to see whether consumers are opting for maintenance jobs at this moment and if this will push higher-ticket installation jobs later into the summer.
APRIL 24 UPDATE
ServiceTitan data shows that in aggregate, revenue has stabilized and actually improved from the previous week. Call leads continue to show signs of bouncing back as well — and future jobs increased from the previous week for the first time since the crisis began.
For the week of April 16-22, completed job revenue improved to -12% year over year, as compared to down -16.5% YoY for the week of April 9-15.
Call leads improved to -20% year-over-year, compared to -26.5% the previous week
Future jobs improved to -15% year-over-year, compared to -17% the previous week
New York, which has been the hardest-hit state in the country, saw a big jump in revenue, which coincides with positive signs in their Covid cases descending. The state improved to -32% for revenue year-over-year, compared to down -50% the previous week. Future jobs and calls also improved, which bodes well for the week ahead.
One of the strongest areas was Florida, which jumped back into positive territory on revenue this week — up +7.5% year over year, as compared to down -5% YoY last week. Similar to New York, future jobs and calls were greatly improved from last week, so we will continue to monitor this trend as the recovery continues.
APRIL 17 UPDATE
Our data shows that revenue, while still down compared to 2019, improved week-over-week. In addition, call leads increased from last week as well.
In aggregate, completed job revenue increased +4.5% for the week of April 9-15, compared to the previous week. When compared to 2019 data, completed job revenue for the week of April 9-15 was down -17.5% year-over-year — it was down -10% YoY the week of April 2-8.
Another interesting metric is call leads, which increased +8.5% from the week of April 2-8. When compared to 2019 data, calls for April 9-15 were down -25% year-over-year — they had been down -30% YoY the previous week.
There continue to be highly divergent regional trends, since this outbreak is impacting areas on unique timelines. For example, Washington — one of the earliest impacted states — was down -10% in job revenue this week, as compared to down -25% YoY the week of April 2-8. Call leads and future jobs were also slightly higher for Washington the week of April 9-15.
In contrast, job revenue in Florida was down compared to 2019 for the first time. We will continue to monitor the later-impacted states to see if they follow a similar path to early states — in both the initial weakening relative to 2019, but also in their recovery.
APRIL 10 UPDATE
Our data shows that revenue is now impacted in all regions of the country, but is still near 2019 levels for many of these regions.
In aggregate, completed job revenue was down -11% year-over-year for the week of April 2-8. This is down from -2% the previous week.
One factor in this decline is that revenue dropped in areas of the country that had been relatively unimpacted until this week. In aggregate, these states had been up more than 10% even through the middle of March, and are now decreasing to 2019 levels. For example, Florida’s stay-at-home order went into effect at the start of this week — and the state changed from +18% year-over-year March 25-April 1, to even with 2019 this week.
New York and New Jersey continue to be one of the most COVID-impacted areas of the country. In terms of revenue, these two states were relatively flat this week compared to last week. New York and New Jersey combined went from -34.5% to -37.5% week-over-week. There is data suggesting that this current week will be the most difficult for this area, so we will be monitoring data closely over the next 7-10 days to see the impacts on revenue.
APRIL 3 UPDATE
The most critical takeaway is that our data shows that as COVID-19 continues to impact communities, revenue has only dropped a few percentage points when compared to 2019 nationwide. Many of the daily fluctuations below may be normal relative to daily fluctuations of weather, which in certain trades is a large driver of demand.
In aggregate, completed job revenue for ServiceTitan customers was down -3% year-over-year for the week of March 26-April 1. That is down from the week prior, March 19-25, which showed revenue up +6% (YoY).
At the day level, revenue has been fluctuating between good days and bad. Tuesday, March 31, was +9.5% YoY, whereas Wednesday (April 1) was -3.5% YoY.
California and Washington, which were the first two states impacted and who enacted social-distancing measures early, are doing better comparatively to New York and New Jersey on the East Coast. California and Washington are both -15% YoY on average for the week of March 26. New York and New Jersey are at -30% YoY for this same week.
Some states are still seeing positive revenue numbers. For the week of March 26-April 1, Florida, Texas, and North Carolina are all seeing around +15% increases from last year — and their overall March was appreciably higher than January or February, year-over-year.
Across the nation, we are seeing higher ticket sizes for completed jobs — a +16% YoY increase for March 19-25 and +12% increase YoY for March 26-April 1. The average ticket size before March was closer to +7% YoY, so this is a notable increase. There has been a similar increase in close rate, which was its highest of the year for the week of March 26 with an increase of +8% — compared to +5% YoY for January and February.
MARCH 27 ANALYSIS
The most critical takeaway is that our data shows that revenue continues to be relatively stable and consistent thus far.
In aggregate, completed job revenue for ServiceTitan customers — was up 6% year-over-year for the week of March 19-25. Revenue was up 8% (YoY) for the week of March 12-18, and 5% (YoY) for the week of March 5-11.
On another positive note, it appears that cancellations appear to be a phenomenon that happens once per region — possibly in conjunction with a declaration of “shelter in place” or “safer at home” — but then stabilize back to normal rates within a few days.
In some of the highly-impacted states, Washington continues to see some of the largest impacts. Year-over-year revenue was down 8% for the week of March 5-11, then recovered with a 3.5% increase March 12-18, and was down 2% year-over-year for March 19-25.
In California, completed job revenue that was up 15% year-to-date was down 5% for the week of March 12-18 and down 1.5% for March 19-25. While this may seem significant, we have seen greater fluctuations than this from weather changes alone.