RTO Q2 2019 Earnings Report — Rentokil Initial plc Revenue & Financial Results | Market Cap Arena

Rentokil Initial plcRTO

Q2 2019 Earnings

Reported June 29, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.6B	—	9.7%
Op. Income	$157M	—	$154M	—	2.0%
Gross Margin	100.7%	—	100.0%	—	0.7pp
Net Margin	6.8%	—	7.3%	—	-0.5pp
EPS (Diluted)	$0.26	—	$0.31	—	-17.4%
Free Cash Flow	$166M	—	$115M	—	44.2%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	-$12M
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$134.8K
Other Expenses	-$1.3B
Operating Expenses	$1.3B
Cost & Expenses	$1.6B
OPERATING INCOME	$157M
Interest Income	$3M
Interest Expense	$35M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$137M
Income Tax Expense	$35M
Net Income from Continuing Ops	$119M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$119M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$119M
D&A	$235M
EBIT	$160M
EBITDA	$396M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	-$12M
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$134.8K
Other Expenses	-$1.3B
Operating Expenses	$1.3B
Cost & Expenses	$1.6B
OPERATING INCOME	$157M
Interest Income	$3M
Interest Expense	$35M
Other Income/Expenses	-$20M
INCOME BEFORE TAX	$137M
Income Tax Expense	$35M
Net Income from Continuing Ops	$119M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$119M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$119M
D&A	$235M
EBIT	$160M
EBITDA	$396M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$119M
Depreciation & Amortization	$235M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$493M
Change in Working Capital	-$43M
OPERATING CASH FLOW	$281M
Capital Expenditure	-$115M
Acquisitions (Net)	-$161M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$8M
NET CASH FROM INVESTING	-$275M
Net Debt Issuance	$509M
Common Stock Repurchased	$0
Common Dividends Paid	-$78M
Other Financing Activities	-$404.5K
NET CASH FROM FINANCING	$430M
FREE CASH FLOW	$166M
Net Change in Cash	$442M

Balance Sheet

Item	Amount
Cash & Equivalents	$606M
Short-Term Investments	$4M
Net Receivables	$731M
Inventory	$157M
Other Current Assets	$23M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$826M
Goodwill	$0
Intangible Assets	$2.2B
Long-Term Investments	$411M
Tax Assets	$7M
Other Non-Current Assets	$138M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$5.1B
Account Payables	$871M
Short-Term Debt	$721M
Deferred Revenue	$90M
Other Current Liabilities	$148M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$126M
Other Non-Current Liabilities	$232M
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$3.9B
Common Stock	$25M
Additional Paid-In Capital	$9M
Retained Earnings	$3.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$2.5B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$404.5K
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$5.1B
Total Debt	$2.5B
Net Debt	$1.9B