Reckitt Posts 3.3% Like-for-Like Growth in Q3 as North America Falls 1.3%
Key Facts
Reckitt posted like-for-like revenue growth of 3.3% in the third quarter, rising to 3.9% excluding its Russia hygiene business, according to the company’s results. For the first nine months of 2026, growth was 2.9%, or 3.5% excluding that business. The company said its updated outlook reflects disruption to Lysol production and a slowdown in China’s vitamins, minerals and supplements category during the quarter, alongside positive demand for seasonal cold and flu products at the start of the fourth quarter. Reckitt had reported like-for-like growth of 4.2% in the second quarter and 2.7% in the first half, before growth slowed in the third quarter. The company said this “reflects Lysol disruption and category softness in China in the third quarter, and positive demand for our seasonal cold and flu brands in early Q4.” The figures cited here did not include a numerical range for annual revenue growth expectations.
North America was the biggest source of pressure, with like-for-like revenue falling 1.3% to 649 million pounds, despite volume growth of 0.7%, as price and mix declined 2.0%. The region accounted for 24% of Reckitt’s core business revenue in the quarter. The company said demand for Lysol remained strong, with low-single-digit growth in consumer sell-out during the quarter and market-share gains year to date. But the brand’s like-for-like revenue edged down, as the company faced strong distributor sales in the third quarter of 2025, while temporary manufacturing capacity constraints limited its ability to meet demand. It added that the consumer environment weakened during the quarter, encouraging value-seeking and intensifying competition, particularly in automatic dishwashing; Finish revenue in the region fell at a mid-single-digit rate. The comparison was also affected by the prior-year Mucinex Sinus product portfolio adjustment, while the company expects the delayed timing of retail partners’ orders late in the quarter to reverse in the fourth quarter.
By contrast, Europe returned to growth, with like-for-like revenue rising 0.8% to 867 million pounds. Emerging markets grew 8.0%, accelerating to 9.8% excluding the Russia hygiene business, with growth across all regions and a balance between volume and price and mix. India, ASEAN and Africa posted double-digit growth, while Latin America grew at a mid-single-digit rate. By category, quarterly growth was led by germ protection, up 6.0%, and intimate wellness, up 6.4%. Non-seasonal self-care grew at a mid-single-digit rate, while seasonal self-care declined at a low-single-digit rate amid lower cold and flu incidence in Europe and North America.
On a reported group revenue basis, revenue under IFRS fell 6.9% in the third quarter and 7.7% year to date. Reckitt attributed the decline mainly to the contribution from Essential Home in the year-earlier period, following its sale. This differs from like-for-like revenue growth for the core business, which excludes the comparison effect of that contribution. Mead Johnson Nutrition, meanwhile, posted like-for-like growth of 2.7% in the quarter, driven by higher-value products and innovation in Latin America and Southeast Asia. The company maintained its 2026 outlook for an adjusted operating margin of 24.9% to 25.6% for Reckitt’s core business and Mead Johnson Nutrition. It also forecast high-single-digit growth in emerging markets and low-single-digit growth in Mead Johnson’s like-for-like revenue for the year.
Reckitt said it is working to address Lysol manufacturing challenges and expects the brand and North America to rebound in the fourth quarter; this is the company’s expectation, not a realized outcome. In seasonal products, Mucinex launched 12-hour cold and fever relief and secured additional over-the-counter healthcare product space. The company said early incidence indicators and consumer sell-out rates were tracking at higher levels than a year earlier. Based on recent trends, it plans for a stronger seasonal performance than its previous expectation that incidence levels would be slightly above the prior season. Reckitt plans to hold its “Reckitt: Focus on North America” event on 19 November 2026 at its office in Nutley, New Jersey. Regional leaders are scheduled to present the company’s business to investors and analysts.