Reckitt Benckiser Group Stock Earnings Reports

Reckitt delivered a solid 2025 with Core Reckitt like-for-like net revenue up 5.2% (volumes +1.5%, price/mix +3.7%) and group adjusted operating profit up 5.3% (constant currency). Growth was led by Emerging Markets (Core Reckitt EM up 14.6%), while Europe remained tough and North America showed resilient nonseasonal performance. Core Reckitt margins expanded 90 bps to 26.7%; Emerging Markets margin expanded 210 bps to 20.9%. The Fuel for Growth program delivered material fixed-cost savings and enabled stepped-up brand investment (BEI), while CapEx was increased to GBP 592m to strengthen supply chain and manufacturing capacity. The company completed the Essential Home divestment, returned GBP 2.3bn to shareholders (including a GBP 1.6bn special dividend), and continues to consider strategic options for Mead Johnson (which grew net revenues 3.8%). Guidance for 2026: Core Reckitt like-for-like net revenue growth of 4–5% (led by Emerging Markets), a temporary leverage uptick toward ~2.5x net debt/EBITDA by mid-year, continued Fuel for Growth delivery to largely offset stranded costs from the divestment, and an ambition for long-term sustainable EPS growth despite near-term dilution from the Essential Home transaction. Key priorities for 2026 include scaling Emerging Markets penetration and nascent categories, premiumization and omnichannel execution in developed markets, continued R&D-driven innovation (notably the first FDA-approved NDA for Mucinex 12-hour Cold & Fever), and continued investment in supply chain/localization and digitization.