Reckitt Benckiser Group PLC (LSE:RKT) reported 3.3% like-for-like net revenue growth in its Core Reckitt business during the third quarter of 2026, supported by growth in Emerging Markets and a return to positive sales growth in Europe.
Core Reckitt revenue reached £2.69 billion during the quarter, while revenue from Core Reckitt and Mead Johnson Nutrition combined increased 3.2% on a like-for-like basis to £3.24 billion.
The consumer health and hygiene group revised its full-year Core Reckitt like-for-like revenue growth guidance to between 3.5% and 4.5%, reflecting temporary Lysol manufacturing constraints in North America, slower growth in China’s vitamins, minerals and supplements market, and increased demand for seasonal cold and flu products early in the fourth quarter.
Reckitt maintained its full-year adjusted operating profit margin guidance of 24.9% to 25.6% for Core Reckitt and Mead Johnson Nutrition combined.
Core Reckitt Revenue Increases to £2.69 Billion
Core Reckitt generated third-quarter net revenue of £2.69 billion, representing growth of 3.3% on both a like-for-like and reported IFRS basis.
Excluding the Russia Hygiene business, Core Reckitt’s like-for-like revenue increased 3.9%.
The quarterly performance reflected a 0.1% increase in sales volumes and a 3.2% contribution from pricing and product mix.
For the first nine months of 2026, Core Reckitt reported net revenue of £7.80 billion, up 2.9% on a like-for-like basis and 2.5% under IFRS.
Excluding Russia Hygiene, year-to-date like-for-like revenue growth was 3.5%.
Across Core Reckitt and Mead Johnson Nutrition combined, quarterly revenue reached £3.24 billion, an increase of 3.2% on a like-for-like basis and 3.5% on a reported basis.
Total group revenue, including transitional services associated with the Essential Home disposal, was £3.36 billion, representing a reported decline of 6.9%.
Reckitt attributed the reported group revenue reduction primarily to the absence of revenue from Essential Home, which was included in the prior-year comparison before its disposal was completed on 31 December 2025.
Emerging Markets Revenue Grows 8%
Reckitt’s Emerging Markets business reported third-quarter net revenue of £1.17 billion, representing like-for-like growth of 8.0%.
Excluding Russia Hygiene, revenue growth reached 9.8%.
The regional performance included a 2.3% increase in sales volumes and a 5.7% contribution from price and product mix.
Reckitt reported growth across all Emerging Markets regions, with double-digit increases in South Asia and India, ASEAN and Africa.
Latin America recorded mid-single-digit growth, while China also delivered mid-single-digit growth despite slower demand in the vitamins, minerals and supplements category.
In China, Dettol contributed to revenue growth, while Durex returned to growth during the quarter.
The company said performance in the Chinese vitamins, minerals and supplements market was affected by weaker category trends and consumer perceptions associated with claims made by smaller local competitors.
India recorded double-digit growth, supported by expansion across product categories. Reckitt also noted that the comparative period benefited from inventory movements associated with changes to goods and services taxation, an effect expected to reverse during Q4.
For the first nine months of 2026, Emerging Markets revenue reached £3.41 billion, representing like-for-like growth of 8.4%.
Europe Returns to Growth in Third Quarter
Reckitt reported third-quarter revenue of £867 million in Europe, representing like-for-like growth of 0.8%.
The increase followed a period of declining revenue in the region and reflected a 4.0% contribution from pricing and product mix, offset by a 3.2% reduction in sales volumes.
The company reported growth across several brands, including Gaviscon, Vanish and Veet.
Finish, Durex and Harpic also returned to like-for-like revenue growth in Europe.
Gaviscon benefited from the rollout of Gaviscon Double Action, while Vanish recorded mid-single-digit growth following the introduction of Vanish Turbo.
Durex increased revenue by a mid-single-digit percentage, supported by the Durex Intensity range, and Veet recorded double-digit growth.
Reckitt said European consumer demand remained affected by promotional activity and purchasing decisions favouring lower-priced products.
The company also reported lower cold and flu incidence during the quarter, affecting seasonal healthcare brands including Nurofen and Strepsils.
For the first nine months of 2026, European revenue totalled £2.54 billion, representing a like-for-like decline of 1.7%.
North America Revenue Declines 1.3% Amid Lysol Supply Constraints
Reckitt’s North American business reported third-quarter net revenue of £649 million, down 1.3% on a like-for-like basis.
The result reflected a 0.7% increase in volumes and a 2.0% negative contribution from price and product mix.
The company attributed part of the decline to temporary manufacturing capacity constraints affecting Lysol products.
Reckitt said consumer demand for Lysol remained positive, but production limitations prevented the business from fully meeting demand during the quarter.
The company is upgrading manufacturing capabilities and expects the operational constraints to ease, supporting a recovery in Lysol and broader North American performance during Q4.
North American revenue was also affected by the comparison with the previous year’s Mucinex Sinus portfolio changes and the timing of orders from retail customers.
Reckitt expects some of the retailer order timing effects recorded late in Q3 to reverse during the final quarter.
The company also reported increased competitive activity in automatic dishwashing products, affecting Finish sales.
For the first nine months of 2026, North American revenue reached £1.86 billion, representing like-for-like growth of 0.1%.
Germ Protection and Intimate Wellness Lead Category Growth
Reckitt reported like-for-like revenue growth of 6.0% in Germ Protection during Q3, with net revenue reaching £892 million.
The category benefited from Dettol sales growth across Emerging Markets, although Lysol performance in North America was affected by manufacturing constraints.
Harpic also recorded double-digit growth during the quarter.
Intimate Wellness revenue increased 6.4% on a like-for-like basis to £405 million.
Durex delivered mid-single-digit growth, supported by sales in Emerging Markets, improving performance in China and demand for premium products including Durex Intensity.
Veet recorded double-digit growth during the quarter.
Self Care revenue increased 2.2% on a like-for-like basis to £880 million.
Excluding seasonal over-the-counter products, Self Care revenue increased 4.2%, supported by Gaviscon.
Seasonal healthcare revenue declined by a low-single-digit percentage, reflecting lower cold and flu incidence in Europe and North America.
Household Care revenue declined 1.5% on a like-for-like basis to £513 million.
Reckitt attributed the decline to performance in North America and Russia Hygiene, partly offset by improvements in Europe and growth across other Emerging Markets.
Mead Johnson Nutrition Revenue Increases 2.7%
Reckitt’s non-core Mead Johnson Nutrition business reported third-quarter revenue of £549 million.
Like-for-like revenue increased 2.7%, while reported IFRS revenue rose 4.2%.
The performance reflected a 7.7% contribution from price and product mix, offset by a 5.0% decline in volumes.
Reckitt said the business benefited from premium product sales and innovation in Latin America and Southeast Asia.
The company also reported that North American trading conditions were becoming more comparable with historical levels following disruption caused by the 2024 Mount Vernon tornado and subsequent inventory rebuilding.
For the first nine months of 2026, Mead Johnson Nutrition revenue reached £1.62 billion, representing like-for-like growth of 2.2%.
Reckitt continues to expect low-single-digit like-for-like revenue growth from the business for FY2026.
Full-Year Revenue Guidance Adjusted to 3.5%–4.5%
Reckitt revised its FY2026 Core Reckitt like-for-like net revenue growth guidance to between 3.5% and 4.5%.
The updated outlook reflects the impact of Lysol manufacturing constraints, slower growth in China’s vitamins, minerals and supplements category, and more favourable early fourth-quarter demand for seasonal cold and flu products.
Within the guidance, Reckitt expects Emerging Markets to deliver high-single-digit like-for-like revenue growth for the full year.
The company also anticipates improved seasonal over-the-counter healthcare performance compared with its previous expectations.
Reckitt maintained its adjusted operating profit margin guidance for Core Reckitt and Mead Johnson Nutrition combined at 24.9% to 25.6%.
Management expects the second-half margin to be materially higher than the 23.6% recorded in the first half.
The company attributed the expected improvement to changes in product mix, measures to offset commodity cost inflation and efforts to reduce costs remaining after the Essential Home disposal.
Reckitt also reiterated its medium-term objective of delivering consistent annual like-for-like revenue growth of 4% to 5% in Core Reckitt.
Finance Costs and Tax Guidance Updated
Reckitt revised its expected adjusted net finance expense for FY2026 to between £250 million and £270 million, compared with £346 million in 2025.
The change primarily reflects the successful tender of a Mead Johnson bond during the third quarter.
For 2027, the company expects net finance expenses of between £390 million and £410 million.
Reckitt said the anticipated increase reflects the absence of certain one-off benefits recorded in 2026, prevailing interest rates and higher gross borrowings.
The group also updated its expected adjusted effective tax rate for FY2026 to between 26% and 27%, compared with 24.7% in 2025.
Its longer-term effective tax rate assumption remains approximately 27%.
Capital expenditure is expected to represent around 4% of net revenue in 2026, compared with 4.2% in the previous year.
North American Investment and Share Buyback Programme
Reckitt continues to implement its previously announced investment programme of up to US$600 million in North America.
The multi-year programme, announced in September 2026, is intended to expand manufacturing and innovation capabilities, improve supply resilience and increase access to healthcare products.
The company identified upgrades to Lysol manufacturing capacity as part of its efforts to address the operational constraints experienced during Q3.
Reckitt also confirmed that its £500 million share buyback programme commenced on 5 August 2026.
As of 23 October, approximately £90 million of the programme had been completed.
The company continues to expect completion of its Russia Hygiene divestment during the second half of 2026.
Reckitt has scheduled a North America-focused investor event at its New Jersey headquarters for 19 November 2026.
Chief Executive Comments on Third-Quarter Trading
Kris Licht, chief executive officer of Reckitt, commented on the group’s trading performance and updated outlook:
“We delivered 3.3% like-for-like net revenue growth in Q3 across Core Reckitt, 3.9% excluding Russia Hygiene. We are driving good underlying performance despite a challenging consumer environment. Growth is increasingly broad-based across our markets. Emerging Markets delivered growth in all regions and, importantly, we returned Europe to growth. North America was below our expectations. While consumer demand for Lysol remains strong, temporary manufacturing constraints limited our ability to fully meet demand.
“We have adjusted our Core Reckitt full year like-for-like net revenue guidance to +3.5% to +4.5% growth. This reflects the Lysol disruption and category slowdown in China VMS in Q3 and positive demand for our seasonal cold & flu brands in early Q4. We enter Q4 with good momentum, continue to execute our strategy and invest behind our brands and capabilities.”
The company expects its fourth-quarter performance to reflect the resolution of manufacturing constraints in North America, seasonal healthcare demand and continued growth across Emerging Markets.
More About Reckitt Benckiser Group
Reckitt Benckiser Group PLC (LSE:RKT) is a consumer health, hygiene and nutrition company with operations across Europe, North America and Emerging Markets.
Its product portfolio includes Dettol, Lysol, Durex, Gaviscon, Finish, Vanish, Veet, Harpic, Mucinex and other consumer brands.
The group operates through Core Reckitt and Mead Johnson Nutrition, alongside transitional activities associated with the disposal of its Essential Home business.
For Q3 2026, Core Reckitt reported revenue of £2.69 billion, representing 3.3% like-for-like growth.
Revenue from Core Reckitt and Mead Johnson Nutrition combined reached £3.24 billion, while total reported group revenue was £3.36 billion.
Reckitt expects Core Reckitt like-for-like revenue growth of 3.5% to 4.5% for FY2026 and continues to forecast an adjusted operating profit margin of 24.9% to 25.6% for Core Reckitt and Mead Johnson Nutrition combined.
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