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Earnings Score 42 Neutral

Reckitt Benckiser Maintains 2026 Outlook Despite Q1 Headwinds

Apr 22, 2026 06:35 UTC
3RB.DE, RKT.L
Short term

Reckitt Benckiser reported modest first-quarter like-for-like revenue growth of 0.6%, citing geopolitical disruptions and seasonal weakness. The company has reaffirmed its full-year growth targets for the Core Reckitt segment.

  • Core Reckitt LFL growth reached 1.3%, rising to 3.1% excluding seasonal OTC
  • Total Group net revenue fell to £3.25 billion, a 11.8% decrease
  • FX headwinds and the Essential Home divestment impacted nominal revenue
  • Full-year 2026 LFL growth guidance held at 4% to 5%
  • Shares rose 3.01% to 5,066.00 pence

Reckitt Benckiser has posted its first-quarter results for 2026, revealing a complex operating environment characterized by geopolitical instability and seasonal fluctuations. The company reported overall like-for-like (LFL) revenue growth of 0.6% for the period. The Core Reckitt segment delivered LFL net revenue growth of 1.3%, though this figure was weighed down by weak performance in European categories and low seasonal incidence. When excluding seasonal over-the-counter (OTC) impacts, the Core Reckitt segment's growth improved to 3.1%. Combined net revenue for Core Reckitt and MJN stood at £3.13 billion. Total Group net revenue saw a significant nominal decline of 11.8%, falling to £3.25 billion. Management attributed this drop primarily to foreign exchange headwinds and the impact of the prior year's contributions from the Essential Home business, which is no longer part of the portfolio. Despite the sluggish start to the year, the Group has maintained its fiscal 2026 LFL net revenue outlook for Core Reckitt, targeting growth in the range of 4% to 5%. Market reaction remained cautiously optimistic, with shares trading up 3.01% at 5,066.00 pence following the announcement.

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