Rentokil Initial Plc. ADR (RTO)

Rentokil Initial Plc Stock (RTO) dropped by 14.81% from $35.71 to $30.42 in the trading on Thursday October 19, 2023. The reason why RTO stock down today is due to softer demand in North America. Rentokil said tougher economic conditions had hit demand in the US for its pest control and hygiene services. Winning new North American customers had proved more difficult as people moving house less frequently because of soaring borrowing costs. Rentokil now expects its annual adjusted operating margin for North America to be in the range of 18.5%-19%, compared with its previous guidance of about 19.5%.