Rentokil Initial shares tanked on Thursday after announcing a reduction in margin guidance for their North American operations due to the macroeconomic impact on revenues.
Rentokil Initial operates a global pest control and hygiene & wellbeing business. The biggest business unit in terms of revenue is by far North America.
Investors dumped Rentokil Initial after the company said they now expected operating margins at their North American business to be 18.5% to 19.0%, lowered from its previous guidance of 19.5%. North American organic revenue growth was just 2.2%.
The lowered ma...
