London, May 14, 2026, 15:28 BST
- At 15:03 BST, Rentokil Initial was up 0.63% at 476.90p in London, clawing back some ground after declines on Tuesday and Wednesday.
- The pest-control firm reported first-quarter revenue rising 4.3% to $1.68 billion, with organic growth in North America coming in at 3.9%.
- Rollins, a U.S. rival, posted 6.6% organic revenue growth for its first quarter, piling on the pressure for Rentokil to prove that its U.S. rebound has staying power.
Rentokil Initial plc shares ticked up in London Thursday, recovering a slice of this week’s drop as some investors latched onto hints of a North America rebound—even as the U.S. pest-control market remains tough. The stock was last up 0.63% at 476.90p as of 15:03 BST. The FTSE All-Share, for its part, gained 0.21%, according to Fidelity data.
This shift is key: Rentokil’s narrative has tightened. The debate isn’t about pest control’s staying power anymore. It’s about whether the new leadership team can get things right in North America—a region that’s shouldered the bulk of the pressure ever since the Terminix acquisition changed Rentokil’s shape.
Market data showed the shares finished 2.06% lower Tuesday, slipping another 0.23% Wednesday, after reaching 506.80p in mid-April. Despite the retreat, they’re still trading comfortably above last year’s depths. The latest drop, though, points to investors picking over every sign of progress.
Rentokil reported a 4.3% rise in group revenue for the first quarter at constant currency, reaching $1.68 billion. Strip out currency swings and recent deals, and organic revenue was up 3.4%. In North America, revenue came in at $995 million, a 4.5% jump, with organic growth at 3.9%.
Chief Executive Mike Duffy described the quarter as “a good start,” despite it being a typically slow period, and pointed to “continued momentum in North America.” Geopolitical events, he noted, continue to bring uncertainty. Still, Duffy said the recent progress leaves the company confident it can deliver on full-year market expectations. Investegate
Duffy stepped into the CEO role on March 16, operating out of North America, according to the company’s announcement. That matters—Rentokil’s U.S. operations now serve as the key test for the stock.
On the Q1 call, Chief Financial Officer Paul Edgecliffe-Johnson flagged a 2.8% organic revenue rise for Pest Control Services, pointing to “steady quarter by quarter improvements” as marketing, sharper sales, and higher prices gave the segment a lift. Customer retention landed at 80.4%, about flat, but colleague retention edged higher—up to 82.6%.
Competition remains intense. Rollins, which trades in the U.S. and operates in pest control, posted first-quarter revenue of $906 million—that’s a 10.2% jump. Organic revenue climbed 6.6%. CFO Kenneth Krause told investors the company wrapped up March logging “over 8 percent organic growth,” a sign of building momentum right as peak season was getting underway. PR Newswire
Rentokil’s balance sheet has drawn attention after a regulatory filing revealed its finance arm put out $500 million in 4.625% senior unsecured notes set to mature in 2031 on April 23. The company said proceeds are earmarked for general corporate needs, which may include paying down debt.
The recovery’s patchy. Rentokil pointed to the Pacific region and Middle East, North Africa and Turkey as a combined 60-basis-point drag—0.6 percentage points—on international growth in the first quarter. North America Hygiene & Wellbeing saw organic revenue slide 2.7%. For 2025, results included a $201 million provision set aside for termite damage claims, and the company warned that cash outflows in 2026 could end up matching those for 2025.
Next up: the half-year test. Fidelity’s key-dates page pins Rentokil’s half-year results for July 2026, so Duffy and his team still have a reporting window left to prove if North America’s early momentum is more than just a blip.
