Reckitt Benckiser Group plc (RKT) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody, and welcome to Reckitt's Q3 trading update. I'm here with our CEO, Chris Licht, and our CFO, Shannon Eisenhardt, who will take you through some prepared remarks, and then we will take your questions. Before we start, I would like to draw your attention to the usual disclaimer in respect of forward-looking statements contained on page seven of our results statement published this morning. With that said, I'll hand over to Chris to start the call. Thank you, Nick, and good morning, everyone. We have delivered another quarter of strong execution and performance, with our third quarter results in line with our expectations, keeping us on track to meet our upgraded full-year guidance we provided in July. Core record delivered 6.7% like-for-like net revenue growth, with sequential volume improvement to 3.4%, and a well-balanced algorithm with positive price mix contributing 3.3%. This progress is being driven by the strength of our 11 power brands, with benefits coming from ongoing investment in premiumization and brand equity, innovation and new category creation, and continuously improving in-market execution. Core records year-to-date like-for-like net revenue performance now stands at 5%. As expected, our developed markets businesses in Europe and North America returned to growth during the quarter in what remains a challenging trading and consumer environment. Volumes improved sequentially in Europe, led by non-seasonal self-care and intimate wellness, and we delivered ahead of category growth rates in North America with a strong performance driven by Lysol, while seasonal OTC had a softer quarter. Emerging markets had another standout performance, growing 15.5% in the quarter. This reflects broad-based growth across all categories, double-dig...