EarningsQ2 2026 Earnings Report
MX:RBN Q2 2026 EPS Results
Actual EPS$24.25
Consensus EPS$34.09
Beat/MissMissed by -$9.83
One Year Ago EPS$35.17
MX:RBN Q2 2026 Revenue Results
Actual Revenue$153.79B
Expected Revenue$72.08B
Beat/MissBeat by +$81.71B
YoY Revenue Growth-8.17%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:RBN Upcoming Earnings
Reckitt's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented clear evidence of operational recovery and momentum: strong Q2 acceleration, notable outperformance in emerging markets (especially China), successful innovation rollouts, improved-than-expected margin performance versus prior guidance, and continued disciplined capital returns and cost transformation under the Fuel for Growth program. Offsetting these positives were persistent input cost and commodity pressures, regional supply disruptions (Middle East), category challenges in Household Care/Auto Dish and a near-term EPS and free cash flow hit from the Essential Home divestment. Management reiterated full-year guidance and laid out specific mitigation actions, suggesting confidence in execution. Overall, the positive developments (broad-based revenue acceleration, emerging markets strength, innovation wins, and cost program progress) materially outweigh the nearer-term lowlights and structural headwinds.Company Guidance
Quarterly Acceleration in Revenue Growth
Group like-for-like net revenue grew 2.6% in H1 2026 with strong acceleration in Q2: Core Reckitt like-for-like net revenue +2.7% H1 and +4.2% in Q2; Group Q2 growth of 4.7% (Core Reckitt and Mead Johnson combined). Growth was balanced between volume and price/mix.
Emerging Markets Outperformance
Emerging markets delivered robust growth: like-for-like net revenue +8.5% in H1 and +9.4% in Q2; excluding Russia Hygiene emerging markets growth +10.3% in the half. China recorded its 12th consecutive quarter of double-digit growth, and India grew high single digits.
Innovation Driving Momentum
Multiple successful launches drove performance and premiumization: Dettol Activ Botany exceeded expectations in China and expanded to ASEAN/Europe; Vanish Turbo returned Vanish to like-for-like growth in Q2; Durex Intensity expanded to 19 markets; Mucinex 12 Hour Cold & Fever began shipping in June supporting North America sequential growth.
Category Strength — Germ Protection
Germ Protection grew strongly with like-for-like net revenue +10.5% in H1, driven by Dettol and Lysol and innovation-led momentum in emerging markets.
Margin and Cost Program Progress
Adjusted operating profit margin for Core Reckitt and Mead Johnson was 23.6% in H1, ahead of expectations despite headwinds; fixed costs held at 20.1% of net revenue with Fuel for Growth offsetting stranded costs and the program on track to deliver fixed costs below 19% by end-2027.
Capital Return and Balance Sheet Strength
Returned ~GBP 3.0 billion to shareholders in the period and ~GBP 6.4 billion since strategy launch; announced additional GBP 500 million buyback and a 5% increase in interim dividend. Net debt/EBITDA at 2.5x and free cash flow generation continuing (GBP 419 million in H1).
Sequential Volume Recovery
Volumes improved sequentially with Core Reckitt volumes up 2% in Q2; emerging markets volumes up 3.2% in Q2 (4.4% excluding Russia Hygiene). Mix contributed 1.4% in the quarter.
Clear Full-Year Guidance and Strategic Confidence
Management reiterated Core Reckitt full-year like-for-like net revenue guidance of 4%–5% and adjusted operating profit margin guidance for Core Reckitt and Mead Johnson of 24.9%–25.6% for 2026, citing stronger H2 weighting driven by innovation, pricing actions and Fuel for Growth benefits.
MX:RBN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed