Q3 RESULTS 2026

27 October 2026                                                    

Q3 Results 2026

powerbrands driving continued GROWTH

“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.”

Kris Licht, Chief Executive Officer

1. Adjusted and Non-GAAP measures are defined on page 9.
2. All percentage figures in this table are derived from unrounded data.
3. Like-for-like (LFL) net revenue growth is measured on a constant exchange rate basis (see page 9). Completed disposals are excluded from LFL revenue growth for the entirety of the current and prior years.
4. From 1 January 2026, Reckitt records revenue under transitional manufacturing and distribution arrangements associated with disposal of the Essential Home business. This activity is excluded from like-for-like net revenue and will decline as the businesses complete separation.
5. Q3 2025 Group net revenue included Essential Home (£479m) and this is not included in Q3 2026 net revenue as a result of the disposal of the Essential Home business which was completed on 31 December 2025.

q3 highlights

Growth driven by our diversified market portfolio

• Core Reckitt grew Q3 LFL net revenue by +3.3% (YTD: +2.9%), with volume growth and strong mix contribution
  • Excluding the Russia Hygiene business, Core Reckitt Q3 LFL net revenue growth was +3.9% (YTD: +3.5%)
• Emerging Markets delivered +8.0% LFL net revenue growth in Q3, or +9.8% excluding Russia Hygiene. Growth was balanced between volume, price and mix and all regions were in growth. South Asia/India, ASEAN and Africa grew double-digit and LATAM mid-single-digit. China delivered mid-single-digit growth, with slower growth in VMS following category headwinds and Durex returning to growth in Q3
• We returned Europe to growth, with Q3 LFL net revenue up +0.8%, as we improved execution and launched new innovations. We are seeing a number of our Powerbrands in strong growth (Gaviscon, Vanish and Veet) and returning to growth (Finish, Durex and Harpic), despite a challenging consumer environment and lower cold and flu incidence in Q3
• North America Q3 LFL net revenue declined -1.3%, as temporary manufacturing capacity constraints limited our ability to meet strong Lysol consumer demand as we upgrade our manufacturing capabilities. We lapped the prior-year Mucinex Sinus portfolio reset and experienced retailer order phasing late in the quarter which we expect to reverse in Q4. We are resolving the Lysol manufacturing challenges and expect both Lysol and North America to rebound in Q4
• Category growth in Q3 was led by Germ Protection (+6.0%) and Intimate Wellness (+6.4%). Household Care returned to growth in Europe although declined overall due to Russia Hygiene while non-seasonal Self Care grew mid-single-digit. Seasonal Self Care was down low-single-digit with strength in Emerging Markets offset by lower cold & flu incidence across Europe & North America in Q3
• Mead Johnson Nutrition delivered +2.7% LFL net revenue growth in Q3, driven by premiumisation and innovation-led growth in Latin America and South East Asia, with North America now lapping a normalised base
• Group IFRS net revenue decline of -6.9% in Q3 and -7.7% YTD primarily reflects the prior year’s contribution from Essential Home

Leading Powerbrands in the right categories

• Dettol, our largest brand, delivered double-digit growth in Emerging Markets, with innovation supporting continued expansion into new segments and markets, including Activ Botany
• Durex, the #1 condom brand worldwide, grew mid-single-digit, driven by volume growth and consumer adoption of our premium innovations, including Durex Intensity, alongside improving trends in China
• Gaviscon, the #1 recommended heartburn antacid brand worldwide, grew double-digit in both Europe and Emerging Markets, supported by the rollout of Gaviscon Double Action and continued category premiumisation
• Finish, the world’s #1 Autodish brand, returned to growth in Europe as we sharpened execution around elevated promotional intensity. While performance was challenged in North America, Finish grew double-digit in Emerging Markets, excluding Russia Hygiene, as we continue to capture the Autodish penetration opportunity

Delivering our strategy

• We launched the breakthrough Mucinex 12HR Cold & Fever to strong consumer feedback. We continue to generate strong consumer response to other recent innovations including: Dettol Activ Botany, Dettol Multipurpose Triggers, Gaviscon Double Action, Durex Intensity, Vanish Turbo and other Mucinex portfolio extensions
• We increased the percentage of Core Reckitt Top CMU’s holding or gaining market share in the YTD to August compared with HY 2026
• We announced the multi-year investment of up to $600m in September to accelerate U.S.-based innovation, expand access to Healthcare products and strengthen supply resilience in the region, reflecting the significant opportunity for future growth in North America
• We will demonstrate the long-term strengths and opportunities in our North America business at the next Focus On event, hosting from our North American headquarters in New Jersey on 19 November
• We expect completion of the Russia Hygiene divestment during the second half of 2026
• £500m share buyback programme commenced on 5 August 2026, with £90m completed as of 23 October

2026 and MEDIUM-TERM outlook

• Our outlook for FY 2026 is as follows:
• We now expect to deliver Core Reckitt FY 2026 LFL net revenue growth of +3.5% to +4.5%.
  • Within this, we expect Emerging Markets to deliver high-single-digit growth in FY 2026.
  • Given recent trends, we are now planning for an improved seasonal OTC performance versus our prior expectation of "incidence levels to be slightly higher than the prior season".
• In our non-core Mead Johnson Nutrition business we expect low-single-digit LFL net revenue growth in FY 2026.
• We continue to expect Core Reckitt + MJN adjusted operating profit (AOP) margin for FY 2026 to be in the range of 24.9% to 25.6%.
  • In H2, Core Reckitt + MJN AOP margin will be much stronger than H1 2026 (23.6%) driven by more favourable mix across our Categories and Areas, actions to offset commodity price inflation as well as continued stranded cost mitigation.
  • In 2026, our Fuel for Growth programme is expected to largely offset the stranded costs associated with the Essential Home divestment.
• We reiterate our ambition to deliver long-term, sustainable EPS growth, acknowledging in 2026 the headwind from the dilution resulting from the divestment of Essential Home.

Other technical guidance:

• FY 2026 adjusted net finance expense is now expected to be in the range of £250m to £270m (2025: £346m) with the change from prior guidance predominantly driven by the successful tender of the Mead Johnson Bond in Q3.
  • For 2027, reflecting the absence of specific one-offs benefiting 2026, the current rate environment and a year-on-year increase in gross borrowing, we currently expect 2027 net finance expense in the range of £390m to £410m.
• We now expect our adjusted effective tax rate for FY 2026 to be in the range of 26% to 27% (2025: 24.7%), with our longer-term effective tax rate remaining around 27%.
• Capital expenditure as a percentage of net revenue is expected to be around 4% (2025: 4.2%).

Medium-term guidance:

• We reiterate our medium-term guidance for Core Reckitt to consistently deliver +4% to +5% LFL net revenue growth.
• We will look to achieve this while consistently delivering annual EPS growth and creating value for shareholders.

CORE RECKITT performance

1. Adjusted and Non-GAAP measures are defined on page 9.
2. All percentage figures in this table are derived from unrounded data.

Emerging Markets (44% of Core Reckitt Q3 net revenues)

Europe (32% of Core Reckitt Q3 net revenues)

         YTD Europe net revenue declined -1.7% on a LFL basis to £2,539m, with -2.9% volume decline and +1.2% price / mix improvement.

North America (24% of Core Reckitt Q3 net revenues)

1. Adjusted and Non-GAAP measures are defined on page 9.
2. All percentage figures in this table are derived from unrounded data.

Core Reckitt (80% of Group Q3 net revenue)

• Self Care
  • Net revenue grew +2.2% on a LFL basis to £880m in Q3. Excluding seasonal OTC brands, Self Care grew +4.2%.
  • Non-seasonal Self Care growth was led by Gaviscon, which delivered strong double-digit growth, Nurofen was flat while VMS performance moderated reflecting softer year on year demand in North America and slower growth in China.
  • Seasonal OTC was down low-single-digit on a LFL basis, with strong Emerging Markets performance offset by lower cold and flu incidence year-on-year in Europe and North America in Q3.
• Germ Protection
  • Net revenue grew +6.0% on a LFL basis to £892m in Q3, led by continued strong growth in Dettol.
  • Dettol delivered strong, broad-based growth across Emerging Markets, supported by innovation and continued expansion into new segments and markets.
  • Lysol consumer demand remained strong in North America, although temporary manufacturing constraints limited our ability to fully meet strong demand in the quarter.
  • Harpic delivered double-digit growth in Q3, supported by continued strength across Emerging Markets, including India and LATAM.
• Household Care
  • Net revenue declined -1.5% on a LFL basis to £513m in Q3, with improving performance in Europe and continued growth in Emerging Markets (excluding Russia Hygiene) offset by North America and Russia.
  • Finish returned to LFL net revenue growth in Europe, with continued volume growth and delivered double-digit growth in Emerging Markets (excluding Russia Hygiene), while performance in North America was impacted by a weaker consumer environment and increased competitive intensity.
  • Vanish continued to improve in Europe, supported by the rollout of Vanish Turbo and improving share performance.
• Intimate Wellness
  • Net revenue grew +6.4% on a LFL basis to £405m in Q3, with all Areas contributing to growth.
  • Durex delivered mid-single-digit growth, with strong growth across Emerging Markets, improving trends in China and continued momentum from Durex Intensity in Europe.
  • Veet delivered double-digit growth, benefiting from strong activation and favourable seasonal trends.

non-Core segments

Mead Johnson Nutrition       (16% of Group Q3 net revenue)

1. Adjusted and Non-GAAP measures are defined on page 9.

2. All percentage figures in this table are derived from unrounded data.

Mead Johnson Nutrition

Further information

Presentation and Q&A for investors and analysts 

We will be hosting a live webcast followed by a Q&A session for analysts and investors at 08:30 (GMT) on Tuesday 27 October 2026 at https://www.reckitt.com/news/q3-results-2026/

To participate in the Q&A, dial in details are as follows:

United Kingdom: (020) 3481 4247

United States: (646) 307-1963

Other locations: +1 (646) 307-1963

Analysts and investors wanting to participate in the Q&A can do so via the webcast or on the conference call using the instructions above.  

For enquiries contact:

Investors:            Nick Ashworth                                                                                                       +44 (0)7408 812350

                            Jon Bone                                                                                                              +44 (0)7408 811493

Media:                 Richard Farnsworth                                                                                                +44 (0)7734 776317

                            Will Hill                                                                                                                    +44 (0)7503 442453

Cautionary note concerning forward-looking statements

This announcement contains statements with respect to the financial condition, results of operations and business of Reckitt Benckiser Group plc and the Reckitt group of companies (the “Group”) and certain of the plans and objectives of the Group that are forward-looking statements. Words such as ‘‘intends’, ‘targets’, or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including targets for net revenue, operating margin and cost efficiency, are forward-looking statements. Such statements are not historical facts, nor are they guarantees of future performance.

By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including many factors outside the Group’s control. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: the general economic, business, political, geopolitical and social conditions in the key markets in which the Group operates; the Group’s ability to innovate and remain competitive; the Group’s investment choices in its portfolio management; the ability of the Group to address existing and emerging environmental and social risks and opportunities; the ability of the Group to manage regulatory, tax and legal matters, including changes thereto; the reliability of the Group’s technological infrastructure or that of third parties on which the Group relies including the risk of cyber-attack; interruptions in the Group’s supply chain and disruptions to its production facilities; economic volatility including increases in tariffs and the cost of labour, raw materials and commodities; the execution of acquisitions, divestitures and business transformation projects; product safety and quality, and the reputation of the Group’s global brands; and the recruitment and retention of key management.

These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

LEI: 5493003JFSMOJG48V108

APPENDIX - ALTERNATIVE PERFORMANCE MEASURES

Definitions:

Like-for-Like (LFL): Net revenue growth or decline at constant exchange rates (see below) excluding the impact of acquisitions, disposals and discontinued operations. Completed disposals are excluded from LFL revenue growth for the entirety of the current and prior years. Acquisitions are included in LFL revenue growth 12 months after the completion of the relevant acquisition. LFL growth also excludes countries with annual inflation greater than 100%.

Constant exchange rate (CER): Net revenue and profit growth or decline adjusting the actual consolidated results such that the foreign currency conversion uses the same exchange rates as were applied in the prior period and excludes the effect of applying hyperinflation accounting in the relevant subsidiaries.

Growth rates: Percentage figures are derived from unrounded data.

Reconciliation of IFRS Net Revenue to Like-for-Like Net Revenue growth

1. All percentage figures in this table are derived from unrounded data.
2. Updated for certain products that are now managed as part of Household Care rather than Germ Protection.

Reconciliation of IFRS Net Revenue to Like-for-Like Net Revenue growth

1. All percentage figures in this table are derived from unrounded data.
2. Updated for certain products that are now managed as part of Household Care rather than Germ Protection.

Reconciliation of IFRS like-for-like net revenue excluding seasonal OTC brands

1. All percentage figures in this table are derived from unrounded data.