Rentokil Initial Says Trading Performance In North America In July And August Was Lower Than Anticipated
Portfolio Pulse from Benzinga Newsdesk
Rentokil Initial reported lower-than-expected trading performance in North America for July and August, impacting revenue and profit margins. The company anticipates a 1% organic revenue growth in North America for H2 2024 and a reduced operating profit margin. The rest of the group is performing well, but currency headwinds are expected to affect the overall financial results.
September 11, 2024 | 10:38 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Rentokil Initial's North American operations underperformed in July and August, leading to lower revenue growth and profit margins. The company now expects a 1% organic revenue growth in H2 2024 and a reduced operating profit margin of 17.2% in North America.
The news highlights a significant underperformance in Rentokil's North American operations, which is a key market for the company. This underperformance is expected to impact revenue growth and profit margins negatively, leading to a likely short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100