Lysol Maker Reckitt Issues New $664 Million Share Buyback

By Aimee Look

Lysol maker Reckitt Benckiser issued a new share buyback program after reporting growing like-for-like net revenue in the second quarter.

Reckitt, which counts cold medication Mucinex and Durex condoms among its brands, said it would repurchase up to 500 million pounds ($664.5 million) in shares over the next twelve months through a new share buyback program.

The buyback comes as the U.K. consumer-goods company undergoes a broad strategic revamp through pending and completed disposals.

Second-quarter revenue grew 4.7% on a like-for-like basis to 3.17 billion pounds, compared with analyst expectations of a 3.6% increase.

For the first half, group adjusted operating profit--which strips out exceptional and other one-off items-fell 14.3% on year to 1.47 billion pounds. Analysts had forecast 1.39 billion pounds for the metric, according to company-compiled estimates.

The company also booked pretax profit of 981 million pounds for the first six months of the year compared with 1.31 billion pounds a year prior.

Reckitt backed its guidance for 2026 of like-for-like growth for net revenue in its core business of 4% to 5%.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

July 29, 2026 02:41 ET (06:41 GMT)