Reckitt Benckiser (LON: RKT), the maker of Dettol, Lysol and Durex, said in its third-quarter update that Core Reckitt like-for-like net revenue rose 3.3% in the quarter, and that full-year growth is now guided at 3.5% to 4.5%. Reckitt reiterated its medium-term guidance of 4% to 5% like-for-like growth.
Core Reckitt net revenue was £2,690m, with price and mix adding 3.2% and volume 0.1%. Year-to-date growth is 2.9%.
The guidance reflects the Lysol disruption and a slowdown in China’s VMS category in the quarter, partly offset by positive early demand for seasonal cold and flu brands. Chief executive Kris Licht pointed to North America.
North America was below our expectations. While consumer demand for Lysol remains strong, temporary manufacturing constraints limited our ability to fully meet demand.
Kris Licht, Reckitt
Lysol sell-out, sales to consumers, grew low-single-digit, but revenue dipped as Reckitt lapped very strong sell-in from the third quarter of 2025 and temporary capacity constraints limited supply while it upgrades its manufacturing capabilities. North America fell 1.3%, with Mucinex also lapping a prior-year portfolio reset.
Emerging Markets, 44% of Core Reckitt revenue, grew 8.0%, or 9.8% excluding Russia Hygiene. South Asia and India, ASEAN and Africa grew double-digit. China VMS growth moderated, with cross-border headwinds that Reckitt attributes to false claims by smaller local competitors.
Europe returned to growth at 0.8%, though volumes fell 3.2% and the year-to-date is still down 1.7%.
By category, Intimate Wellness grew 6.4% and Germ Protection 6.0%. Self Care rose 2.2%, while Household Care fell 1.5%, as declines in North America and Russia outweighed improvement in Europe and the rest of Emerging Markets.
Reckitt expects Lysol and North America to rebound in Q4, with retailer order phasing reversing. It still guides to a 24.9% to 25.6% adjusted operating margin, against 23.6% in the first half.
A £500m share buyback, begun on the 5th of August, had completed £90m as of Friday. Reckitt holds a Focus On event on its North American business at its New Jersey headquarters on the 19th of November.