EarningsQ2 2026 Earnings Report
MX:RTON Q2 2026 EPS Results
Actual EPS$1.41
Consensus EPS$2.41
Beat/MissMissed by -$1.01
One Year Ago EPS$2.29
MX:RTON Q2 2026 Revenue Results
Actual Revenue$64.41B
Expected Revenue$64.65B
Beat/MissMissed by -$238.19M
YoY Revenue Growth+2.84%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:RTON Upcoming Earnings
Rentokil Initial's next earnings date is estimated for March 4, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented solid financial progress — revenue and operating profit growth, strong cash conversion (96%) and reduced leverage (2.4x) — and clear operational achievements (transformation savings, branch rollout, improved residential performance and regional brand momentum). However, there are meaningful near-term challenges: slower commercial performance, a late-Q2 weakness in residential (termite) leads, higher central costs, increased legacy-termite provisions and elevated one-off transformation cash costs. Management has a detailed remediation plan (sales and operational excellence, customer focus, simplification) and expects steady progress with some initiatives potentially taking up to two years. Overall, the positives on profitability, cash generation and early transformation wins outweigh the stated headwinds, but execution risk on commercial recovery and simplification remains material.Company Guidance
Revenue Growth
Half year revenue increased 4.5% to $3.589 billion with organic revenue growth of 3.6%.
Operating Profit and Margin Expansion
Adjusted operating profit rose to $556 million, up 6.6%, delivering an operating profit margin of 15.5%, up 30 basis points.
North America Outperformance on Profit
North America operating profit grew 10.2% to $393 million with margin improving 1 percentage point to 17.9%; North America revenue was $2.197 billion, up 4.2% with organic growth of 3.7%.
International Momentum
International revenue increased 5.0% to $1.392 billion with organic growth of 3.5%; International operating profit rose 4.3% to $266 million and pest control organic growth accelerated to 5.4% in Q2 (from 2.8% in Q1).
Strong Cash Generation and Conversion
Free cash flow grew 12.8% with 96% cash conversion in the half and management remains on track for >80% conversion for the full year; net debt reduced by $75 million and leverage fell to 2.4x (down 0.4x year-on-year), inside the 2.0–2.5x target range.
Earnings and Shareholder Return
Earnings per share grew 8.3% and the interim dividend was increased by 8% in line with a progressive dividend policy.
Transformation Savings Realized
North America transformation actions delivered gross savings of $45 million in the half and net savings of $28 million after reinvestment; exit run-rate is ~ $90 million annualized, with additional material efficiency opportunities identified.
Operational & Commercial Actions
Residential leads grew 6%, regional brands drove strong lead growth, 70 small local stores rollout target met, Branch 360 data hub rolled out to improve decision-making, and 14 bolt-on M&A deals were completed (prior-year revenue of $26 million) while M&A forecast was consolidated to $120 million.
MX:RTON Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed