Rentokil Initial PLC

NYSE:RTOUnited States

Yesterday

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• DJ Rentokil Initial's 1H Was Positive Despite Slightly Weak North America -- Market Talk, from 4:48AM ET on Thursday Jul 25, 2024 by Dow Jones

  4:48AM ET on Thursday Jul 25, 2024 by Dow Jones
  Companies Mentioned: RTO
  
  0845 GMT - Rentokil Initial reported a positive 1H, but the market is focusing on the slightly weak print in North America, particularly given the recent bounce in the shares, RBC Capital Markets analysts Andrew Brooke and Karl Green say in a note after shares slid 6%. The U.K. pest-control, hygiene and workwear services provider's 1H adjusted pretax profit of GBP383 million beat RBC's estimate of GBP375 million and market consensus of GBP378 million, they say. North America's pest services organic revenue growth came in at 1.3%, missing market expectations of 1.8%, mainly due to the pest distribution business, the analysts add. "We continue to believe the medium-term story remains intact, back management to deliver on the integration and continue to see value in the shares," they add. Shares are up 1% since the start of the year. (michael.susin@wsj.com)
  

• DJ Rentokil Initial's 1H Seen as a Mixed Bag -- Market Talk, from 4:19AM ET on Thursday Jul 25, 2024 by Dow Jones

  4:19AM ET on Thursday Jul 25, 2024 by Dow Jones
  Companies Mentioned: RTO
  
  0819 GMT - Rentokil Initial reported a mixed 1H performance with slightly weak organic growth, while the U.S. pest business showed signals of sequential improvement, Jefferies analysts say in a note. The U.K. pest-control, hygiene and workwear services provider reported 1H adjusted pretax profit 1% ahead of expectations, and adjusted Ebitda margins at 16.5% compared with expectations of 16.3%, they say. The North American pest control business's growth improved to 1.5% in 2Q compared with 1.0% the previous quarter, they say, noting that 2024 growth is now expected to become at the lower end of the company's 2%-4% guidance range. The target adjustment, along with additional investments and other costs, is expected to cause a 1.3% reduction in 2024 adjusted Ebitda, the analysts add. Shares are down 5.7%, but up 1.4% since the start of the year. (michael.susin@wsj.com)
  

• *DJ Rentokil Initial 1H Rev GBP2.71B, from 2:02AM ET on Thursday Jul 25, 2024 by Dow Jones

  2:02AM ET on Thursday Jul 25, 2024 by Dow Jones
  Companies Mentioned: RTO
  
  By Ian Walker
  
  Rentokil Initial said it expects organic revenue growth in North America to be at the bottom end of its guided range despite seeing positive momentum in its U.S. pest business over the first half-year.