Lysol Maker Reckitt Issues New $664 Million Share Buyback — Update

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, bolstered by growth in emerging markets.

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 while the U.K. consumer-goods company is in the midst of a broad strategic revamp, which included disposals, like selling a majority stake in its Essential Home business, and offloading its hygiene arm in Russia.

Several other consumer goods titans have pared back on sprawling portfolios as of late as they try to focus on their best-performing brands. Unilever struck a deal to separate its foods business in March, and Nestle recently outlined ice-cream and waters business joint ventures.

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.

In emerging markets, Reckitt's like-for-like net revenue grew 8.5% for the first half. Reckitt said it expects emerging markets growth in the second half to be akin to the first, which indicates that momentum is broader than just in China, Barclays analysts wrote in a note.

"Emerging Markets continued to deliver despite the Chinese condom headwinds still persisting with broad-based momentum extending well beyond China," they said.

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 the full year 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 03:09 ET (07:09 GMT)