Reckitt Benckiser Group PLC reported Q1 2026 results, delivering 1.3% like-for-like (LFL) net revenue growth for Core Reckitt, despite challenges like low seasonal incidence, weak categories in Europe, and geopolitical disruptions. Emerging Markets led with 7.6% growth, driven by double-digit gains in China and India. Europe declined 4.2% due to promotional intensity and a weak cold and flu season, while North America fell 0.9% despite strong non-seasonal brand performance. Excluding seasonal OTC, Core Reckitt grew 3.1%. The company maintained its full-year 2026 LFL net revenue guidance of 4-5%, expecting sequential growth from Powerbrands, innovation launches, and improved performance in Europe and Emerging Markets. Non-core Mead Johnson Nutrition declined 2.7% LFL. Group IFRS net revenue fell 11.8%, impacted by foreign exchange and the Essential Home divestment. Reckitt continues its £1 billion share buyback program, with £669 million repurchased as of April 17, 2026.
| Metric | Q1 2025 | Q1 2026 | Year-on-Year Change |
|---|---|---|---|
| Net Revenue (£m) | 3,683 | 3,247 | -11.8% |
| Core Reckitt Net Revenue (£m) | 2,630 | 2,598 | -1.2% |
| Mead Johnson Nutrition Net Revenue (£m) | 571 | 531 | -7.1% |
| Emerging Markets LFL Growth | 6.5% | 7.6% | +1.1% |
| Europe LFL Growth | -2.0% | -4.2% | -2.2% |
| North America LFL Growth | +2.5% | -0.9% | -3.4% |
| Self Care LFL Growth | +1.5% | -0.1% | -1.6% |
| Germ Protection LFL Growth | +7.0% | +9.5% | +2.5% |
| Household Care LFL Growth | -3.0% | -7.6% | -4.6% |
| Intimate Wellness LFL Growth | +2.0% | +0.3% | -1.7% |
| Debt (Share Buyback Programme) | £0m (Programme started July 2025) | £669m (as of 17 April 2026) | N/A |