Why Rentokil Initial Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Rentokil Initial plc (NYSE:RTO) shares fell 19% after revising its FY24 guidance, projecting lower North America organic revenue growth and increased costs impacting operating profit. The company is taking steps to control costs post-peak season.
September 11, 2024 | 1:46 pm
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Rentokil Initial revised its FY24 guidance, projecting lower North America organic revenue growth and increased costs, leading to a 19% drop in share price. The company is implementing cost control measures.
Rentokil's revised guidance indicates lower-than-expected growth and increased costs, leading to a significant drop in share price. The company's proactive cost control measures may mitigate some negative impacts, but the immediate market reaction is negative.
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IMPORTANCE 90
RELEVANCE 100