Latest news with #Terminix
Yahoo
7 days ago
- General
- Yahoo
Opossum rescued from Mackinac Bridge after being spotted by driver
The Mackinac Bridge connects the upper and lower peninsulas of Michigan, carrying commuters, tourists and, on occasion, furry animals such as an opossum crossing the bridge on May 29, the Mackinac County Sheriff's office confirmed. The opossum wandered onto the bridge Thursday evening and was spotted by a passing motorist, the post on social media said. "Thanks to the Mackinac Bridge Authority (MBA) staff and Deputy Davis from the Mackinac County Sheriff's Department, he was safely relocated to the south end of the bridge," the post on Facebook reads. According to Terminix, an opossum, often confused with a possum, does not have a furry tail and is found in North America. The latter, also marsupials, have furry tails and are found in Australia. They are shorter and have less pointed noses than their counterparts. More: That time a reader painted a picture of an opossum | Opinion Possums and opossums do have similarities however including: They're nocturnal. They're arboreal, tree-dwelling creatures. They're omnivorous. According to a report from the Port Huron Times Herald, opossums have expanded north throughout the state since the 20th century, establishing a presence in the lower Upper Peninsula and more recently moving into Ontario. Current bridge conditions can be found on the Mackinac Bridge Authorities website. Additionally when traveling in the in the Mackinac Straits area, motorist can listen to 530 AM or 1610 AM for updates. Travelers can check the Mackinac Bridge Cam online for updates. The images from multiple cameras are configured to automatically update every 60 seconds. Cameras capture the administration building looking south, the dock in St. Ignace, looking south; Bridge View Park in St. Ignace, looking south; from Mackinaw City, looking north; and St. Ignace, along Interstate 75. Passenger car, van, motorcycle, station wagon, SUV, pickup, and school buses cost $2 per axle or $4 per vehicle, the Authority said. (A van is a two-axle, four-tire vehicle not primarily intended for carrying cargo or commercial goods.) Other vehicles are $5 per axle. Vehicles not meeting passenger vehicle characteristics include, but are not limited to, tractor-trailers, buses, motor homes and step or cube vans, the Authority said. All vehicles will be classified by the lead vehicle. Anything being towed will be charged the per axle rate of the lead vehicle with the exception of the motor home towing an auto; the towed auto will be charged at the auto rate. The Mackinac Bridge accepts cash, credit/debit cards, Apple Pay, or Google Pay. Frequent travelers can sign up for MacPass and obtain a transponder for their windshield. The Authority said 239,000 vehicles passed over the bridge in March 2024. In January 2025, 214,000 vehicles crossed the bridge. Bridge traffic in August 2024 topped 640,000 — the most vehicles since at least 2014. Jalen Williams is a trending reporter at the Detroit Free Press. Contact him at jawilliams1@ This article originally appeared on Detroit Free Press: Opossum rescued on Mackinac Bridge after being spotted by motorist
Reuters
28-05-2025
- Business
- Reuters
UK's Rentokil to sell French workwear business in $464 million deal
May 28 (Reuters) - British pest control company Rentokil Initial (RTO.L), opens new tab said on Wednesday it would sell its workwear, flat linen and clean room business in France to H.I.G. Capital in a deal that values the business at about 410 million euros ($463.8 million). The sale positions the company "more clearly as a streamlined pest and hygiene & wellbeing business", it said in a statement. Rentokil's $6.7 billion acquisition of Terminix in 2021 made it the largest player in the U.S. pest control market. Rentokil said it expects net cash proceeds of about 370 million euros from the sale, which it will use to pay down debt and invest in bolt-on mergers and acquisitions. The French workwear business made up about 6% of the company's total revenue last year. ($1 = 0.8840 euros)
Yahoo
09-05-2025
- Business
- Yahoo
Rentokil Initial plc (RTO): A Bull Case Theory
We came across a bullish thesis on Rentokil Initial plc (RTO) on Substack by Mike MaxDividends Team. In this article, we will summarize the bulls' thesis on RTO. Rentokil Initial plc (RTO)'s share was trading at $23.89 as of May 5th. RTO's trailing and forward P/E were 29.65 and 17.24 respectively according to Yahoo Finance. A pest control service technician spraying insecticide in a residential property. Rentokil's stock has fallen by 19% since March 2024, largely due to challenges in integrating Terminix, which the company acquired in late 2022. Despite these short-term setbacks, Rentokil maintains its position as the global leader in pest control, a resilient industry characterized by recurring revenues and long-term growth opportunities, especially in the context of continued industry consolidation. The company had originally targeted $200 million in synergies by 2026 through its integration plan, aimed at improving operational efficiency and expanding margins. However, these goals have been disrupted, particularly in North America, which accounts for 60% of Rentokil's revenue. Weaknesses in lead generation and sales execution led to several guidance downgrades and disappointing fiscal year 2024 results, including a modest 2.8% organic revenue growth and a decline in the adjusted operating margin to 15.4%, both falling short of initial targets. The North American business performed particularly poorly, with organic growth of just 1.5% and a drop in margin from 18.7% to 17.1%. Despite significant investments under the 'RIGHT WAY 2' plan, returns have been underwhelming, prompting management to reallocate resources to more promising initiatives for 2025. Adding to the difficulties, leadership turnover has occurred, as Brad Paulsen, the CEO of North America, will depart in April 2025 following a brief tenure, amid speculation of activist pressure from Trian Partners. He will be replaced by interim CEO Alain Moffroid. While sequential improvement was observed in Q4 2024, with growth rising to 2.3% compared to 1.4% in Q3, Rentokil still lags behind key competitor Rollins, which posted a much stronger 10.3% growth for FY24. In response to the integration difficulties, Rentokil revised its consolidation strategy. Instead of merging 600 branches into 400, the company now focuses on a hybrid model, combining larger hubs with smaller 'satellite' branches to improve local presence and operational flexibility. Early results from this new approach have been positive, and the network is expected to expand significantly beyond 500 branches. Additionally, Rentokil has decided to preserve nine well-recognized regional brands, alongside the core Rentokil and Terminix names, thus maintaining brand equity while avoiding forced unification. Although integration remains a work in progress, significant milestones have been achieved. Over 250 branches are now operating on unified IT systems, and 58 Terminix branches were migrated in the second half of 2024. A pilot initiative that covered rebranding, routing, and compensation structures showed positive early results, with 15% of Terminix branches now fully integrated. Despite the challenges faced in North America, Rentokil's strong global leadership position and resilient international operations continue to provide a solid foundation for long-term growth. While management's margin targets now appear increasingly ambitious, the company's industry-leading position and revised integration roadmap suggest that it remains a compelling investment for the future. Rentokil's stock price stood at £3.55 on March 27, 2024, reflecting an 11% decline year-to-date. With a market capitalization of £8.9 billion, the company currently trades at an EV/EBITDA multiple of 10.6x, which is below its fair value estimate of £4.50. This suggests a 26% upside from the current price, with an expected internal rate of return (IRR) of 14.6% over the projected period. Looking ahead, Rentokil's revenue growth is projected to be modest, with a compound annual growth rate (CAGR) of 3.8%, reaching £6.6 billion by FY2029. For FY2025, revenue is expected to rise by 3%, in line with analyst consensus, with growth accelerating to 4% from FY2026 onward, slightly below the company's medium-term guidance of 4.5%-6.5%. Adjusted EBITDA margins are expected to average 23.3%, rising to 24.2% by FY2029. For FY2025, Rentokil's adjusted operating margin is forecasted to remain flat at 15.5%, with no near-term margin expansion expected. By FY2029, the adjusted operating margin is anticipated to rise to 18.5%, which is more conservative than the company's target of over 20% for North America by FY2027. Free cash flow projections indicate a terminal FCF margin of 13.3%, above the company's five-year average of 10.7%. Rentokil's discounted cash flow (DCF) valuation suggests a fair price per share of £4.48, offering an IRR of 14.6%. Sensitivity analysis shows that potential changes in terminal multiples and discount rates could lead to varying upside and downside risks. Despite recent challenges, Rentokil's strong position in the pest control industry, its robust brand portfolio, and expanding international presence provide a solid foundation for future growth. However, tangible progress in North America is necessary to regain full confidence in the company's management. Given its current valuation, Rentokil presents an attractive investment opportunity relative to its long-term fundamentals, with significant upside potential if the company successfully navigates its integration challenges. Rentokil Initial plc (RTO) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held RTO at the end of the fourth quarter which was 19 in the previous quarter. While we acknowledge the risk and potential of RTO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RTO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Times
07-05-2025
- Business
- Times
Rentokil boss retires amid struggles in US pest market
Andy Ransom is to step down as chief executive of Rentokil as the pest control specialist overhauls its executive team to improve the prospects of its US business. Ransom is retiring after sitting on the board of Rentokil for 17 years and serving as its chief executive for 12 years. The executive has overseen a substantial reorganisation of the Crawley-based group during his tenure, but the company has been struggling in more recent years following the acquisition of Terminix, an American peer, for $6.7 billion. The Terminix takeover has soured as the board struggled to smoothly integrate the business and find growth in the highly competitive market for rooting out pests in America. Rentokil has faced strong competition from Rollins, an American rival which has
Daily Mail
07-05-2025
- Business
- Daily Mail
Rentokil boss to retire as investor pressure grows over North America woes
The chief executive of Rentokil Initial will retire before the company's annual general meeting in 2026, the pest control giant said on Wednesday. Andy Ransom retires after a 12-year tenure in the top job, in which he has overseen a transformative $6.7billion acquisition and confronted challenges in the pest giant's largest market, North America. The process to find Ransom's successor has already begun under the leadership of the company's chair, Richard Solomons. Ransom served on the FTSE 100 group's board for 17 years. The group said Ransom will be treated as a 'good leaver by reason of his retirement for the purposes of annual bonus and awards under the Deferred Bonus Plan and Performance Share Plan'. Ransom said: 'It has been a great privilege to lead the growth of Rentokil Initial as Chief Executive over the last 12 years and to establish it as a global leader in Pest Control.' Rentokil shares fell 1.47 per cent or 3.30p to 356.20p on Wednesday, having fallen around 15 per cent in the last year. Ransom added that he is focused on executing growth plans in North America and expanding in target markets around the world, 'so as to leave the company in the best possible shape for the future'. He succeeded Alan Brown as CEO in 2013, after the latter stepped down following the failed turnaround of a loss-making acquisition, City Link. The acquisition of US rival Terminix was transformative, but integrating the new business has proved a struggle. Investor pressure on the firm has mounted amid weak demand in North America, which made up about 60 per cent of revenue last year. Solomons said: 'Andy has created a global leader in Pest Control and the Board thanks him for his outstanding contribution. 'Rentokil Initial is well placed within an industry that has attractive and sustainable growth drivers. 'The Company has exceptional long term growth prospects but short term our priority is on turning around the underperforming North American business. 'Andy is very focused on this task and will ensure a smooth handover when a new Chief Executive is appointed.'
