RTO Stock Recent News

NEW YORK CITY, NY / ACCESSWIRE / September 12, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Rentokil Initial plc ("Rentokil" or "the Company") (NYSE:RTO). Investors who purchased Rentokil securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/RTO.

NEW YORK, NY / ACCESSWIRE / September 12, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Rentokil Initial plc ("Rentokil" or the "Company") (NYSE:RTO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext.

Rentokil Initial PLC (LSE:RTO) has faced its targets being cut by Deutsche Bank analysts after warning over sluggish sales in North America. Deutsche analysts said the pest controller's pre-tax profit was now expected to sit at £691 million for the year, 11% lower than previously thought.

In the midst of integrating its substantial Terminix acquisition, Rentokil delivered a disappointing update. The company appears to be lagging far behind its leading peer's growth rates.

Rentokil Initial (RTO) shares traded in the U.S. cratered Wednesday after the pest-control company warned that slow sales in North America and negative currency impacts will drag down full-year earnings by 80 million pounds ($104.5 million).

U.S. stocks traded mostly lower midway through trading, with the S&P 500 falling around 0.5% on Wednesday.

Rentokil Initial PLC (LSE:RTO) issued what analysts called a "material profit warning" of surprising scale on Wednesday, raising more concerns about the pest controller's US acquisition of Terminix.  The FTSE 100 group said North American organic growth is now expected to be 1% in the second half, and that group profits are now expected to be £700 million for the year due to higher costs from higher spending on sales and services teams.

Activist investor Nelson Peltz's Trian Partners purchased a stake in the pest-control giant in July.

The British exterminator said slower sales in North America and negative currency impacts would see its full-year profits drop compared to last year, to sums of around £700 million

Rentokil Initial PLC (LSE:RTO) warned that sales in North America in the past two months were lower than expected, with profits likely to be hit by higher costs and currency headwinds. Organic revenue growth from the US and Canadian operations is now expected to be around 1% in the second half of the year, down from 2.8% in the first half.