Rentokil’s Q3 FY2021 trading update came in behind our and consensus estimates. The positive impact of organic revenue growth in the core businesses and bolt-on acquisitions was partially mitigated by the unwinding of disinfection revenue. While management maintained FY2021 guidance for the core businesses to generate mid-single-digit organic revenue growth, the share price dropped c.2% today on the back of an underwhelming Q3 update. We will tweak our estimates and target price, and are likely ....
21 Oct 2021
Q3 update falls short of expectations
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q3 update falls short of expectations
Rentokil Initial plc (RTO:LON) | 420 0 0.0% | Mkt Cap: 10,608m
- Published:
21 Oct 2021 -
Author:
Vansh Mehta -
Pages:
3
Rentokil’s Q3 FY2021 trading update came in behind our and consensus estimates. The positive impact of organic revenue growth in the core businesses and bolt-on acquisitions was partially mitigated by the unwinding of disinfection revenue. While management maintained FY2021 guidance for the core businesses to generate mid-single-digit organic revenue growth, the share price dropped c.2% today on the back of an underwhelming Q3 update. We will tweak our estimates and target price, and are likely ....