Reckitt Benckiser Group PLC

Reckitt Benckiser Group Plc engages in the manufacture and trade of consumer brand products including Air Wick, Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet, and Woolite. It operates through the following segments: Hygiene, Health, and Nutrition. The company was founded by Johann A. Benckiser in 1823 and is headquartered in Slough, the United Kingdom.

Abbott Labs

U.K. consumer-products giant Reckitt saw its share price slump after a jury awarded $495 million in a key baby-formula case.

Baby-formula settlement drags Reckitt down after $495 million jury award against Abbott

Abbott Laboratories' shares fell nearly 7% premarket, while British peer Reckitt Benckiser slumped 9% on Monday, after the U.S. healthcare firm was ordered to pay $495 million in damages related to its formula for premature infants.

Abbott shares slide after trial verdict, weigh on rival Reckitt Benckiser

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) shares tumbled 7.5% on Monday morning after a litigation decision in the US against Abbott Laboratories (NYSE:ABT) on Friday, where investors are reading across to the potential impact on the FTSE-listed company.  Abbott was ordered to pay almost $500 million over allegations that it hid the risks around its premature infant formula feed, with the case alleging that the formula risks causing a potentially fatal bowel disease.

Reckitt Benckiser shares whacked by US infant formula litigation read-across

Reckitt Benckiser Group plc (OTCPK:RBGPF) Q2 2024 Results Conference Call July 24, 2024 3:30 AM ET Company Participants Richard Joyce - Head of Investor Relations Kristoffer Licht - CEO & Executive Director Shannon Eisenhardt - CFO & Executive Director Conference Call Participants Guillaume Delmas - UBS Chris Pitcher - Redbur Jeremy Fialko - HSBC James Edwardes Jones - RBC Iain Simpson - Barclays Fulvio Joh - Berenberg Thomas Sykes - Deutsche Bank Richard Joyce Good morning, everyone. Welcome to Reckitt's Half Year 2024 Results Presentation and our Strategic Update.

Reckitt Benckiser Group plc (RBGPF) Q2 2024 Earnings Call Transcript

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB)'s dramatic upheaval plans will result in the divestment of approximately 30% of its business, according to analysis from UBC. Announced alongside an interim trading update on Wednesday, the restructuring forms part of Reckitt's strategy to sharpen its brand portfolio and streamline its operations, focusing on higher-growth, high-margin Powerbrands.

Reckitt restructuring will see 30% of business divested - analyst

Reckitt Benckiser Group on Wednesday said it plans to refocus its business on its top-selling brands including Durex and Gaviscon by pulling away from its more troubled and less profitable segments in a bid to boost its dwindling share price by creating a “simpler, more effective firm.”

Reckitt to simplify by dropping home products and troubled infant-formula unit

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), the FMCG giant responsible for the majority of the average Brit's cleaning cupboard, has declared a sweeping reorganisation of its business that will see it dispose of ‘non-core' brands. The FTSE 100-listed conglomerate plans to get rid of Air Wick, Mortein, Calgon, Cillit Bang and other non-core products from its home care range.

Job cuts expected as Reckitt declares major business shake-up

Reckitt Benckiser will consider options for its troubled nutrition business and offload a portfolio of homecare brands by the end of 2025, it said on Wednesday, planning to refocus on healthcare and hygiene.

Reckitt to offload homecare brands, consider nutrition options

Barclays

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) half-year update on Wednesday (24 July) will see infant formula litigation remain the dominant factor, analysts at Barclays believe. One of the investment problems is that the is little visibility on the timing of any resolution, says the bank.

Reckitt Benckiser needs to draw line under infant formula litigation, says Barclays

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), the FMCG giant behind Dettol, Durex, Finish and Gaviscon, sustained “significant damage” to its warehouse in the US state of Indiana during a tornado strike on 9 July. Reckitt confirmed that no employees were harmed, but the Mount Vernon warehouse, an important site for its Mead Johnson Nutrition business, remains non-operational.

Household goods giant Reckitt sustained ‘significant damage' from Indiana tornado strike

Sales of Reckitt's Mead Johnson baby formula powder are likely to take a short-term hit after a tornado damaged a third-party warehouse in the United States, the British consumer goods company said on Wednesday.

Reckitt's baby formula sales to suffer after tornado damages warehouse

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Barclays has issued a research note forecasting slower growth for Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) due to continued destocking of cold and flu products and a sluggish recovery in infant formula. The investment banking arm of the high street lender now expects organic sales growth of 0.4% for the second quarter, down from the previous estimate of 1.6%.

Reckitt Benckiser numbers tweaked down by leading investment bank - here's why

Reckitt, a consumer goods producer, has experienced a decline in share price due to concerns over its nutrition business and ongoing legal issues. Despite underwhelming business performance, Reckitt's hygiene brands have shown growth and the company forecasts 2-4% net revenue growth for the current year. The company's share price has been overly punished, presenting an attractive valuation opportunity with a P/E ratio of 14 and strong brand assets.

Reckitt Benckiser: Attractive Price For Its Stable Of Brands (Rating Upgrade)

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), the consumer goods giant, could have an activist investor to worry about, adding yet another worry for management as its shares continue to slip. Eminence, the asset management firm known for spearheading an activist campaign against Ladbrokes owner Entain, has built around a 0.5% stake in Reckitt, reports revealed.

Reckitt faces activist investor as baby formula crisis looms

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) reported a robust first quarter, signalling significant operational improvements under its new leadership, according to research by UBS. This comes after a year marked by challenges, notably in the US nutrition sector which had affected previous quarterly performances.

Reckitt Benckiser's update represents strong showing, says investment bank

Reckitt Benckiser Group plc (OTCPK:RBGPF) Q1 2024 Earnings Conference Call April 24, 2024 3:30 AM ET

Reckitt Benckiser Group plc (RBGPF) Q1 2024 Earnings Call Transcript

Dettol, Durex and other living essentials provider Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) flew to the top of the FTSE 100 risers list on Wednesday despite delivering a 4.5% fall in statutory revenues. The secret sauce was organic sales growth (which strips out currency fluctuations and MA adjustments) of 1.5%, which Barclays analysts pointed out was “significantly better” than the 0.9% decrease forecasted by City.

Reckitt delivered an ‘impressive' sales beat, says Barclays

FTSE 100 consumer goods group Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB)'s revenues fell 4.6% year on year in the first quarter, though this was broadly in line with expectations. Hygiene comprising Finish, Lysol, Harpic and Vanish was the one segment to pen revenue growth, while nutrition was the worst performer.

Dettol-maker Reckitt revenues lower, price-led growth simmers down

Consumer goods group Reckitt's like-for-like sales growth beat estimates in the first quarter as more people bought its Lysol, Dettol and Finish cleaning products even as prices rose, it said in a trading update on Wednesday.

Reckitt beats quarterly like-for-like sales estimates

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) has been upgraded to 'hold' from 'underperform' by Jefferies, bumping its valuation up by £3 a share to £44. In a note entitled Time To Use The Slack That's Been Given, the American investment bank points out the stock has fallen 23% year-to-date amid worries over the cost of baby formula litigation.

Reckitt Benckiser: American bank upgrades, but remains cautious; here's why

Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB)'s shares continue to suffer amid a series of legal challenges related to its baby formula products. The company is facing litigation and significant financial penalties due to allegations surrounding the safety and marketing of its infant nutrition products.

Could Reckitt spin out baby formula wing following Enfamil crisis?

Reckitt Benckiser saw modest gains on Monday, following the share-price slide that erased some £5.6 billion ($7.1 billion) of market value.

Reckitt Benckiser sees modest bounce following $7.1 billion market-cap wipeout

Reckitt said on Monday that many cases had been filed against baby formula makers in general, but it was unclear how many directly related to its unit's Enfamil product.

Reckitt says many cases filed against baby formula makers

Reckitt Beckinser Group said Friday it will seek to overturn a court ruling this week that awarded $60 million in damages to the family of a baby that died after being fed Enfamil infant formula, made by the British conglomerate's Mead Johnson Nutrition unit.

News for Reckitt Benckiser Group PLC Stock (RBGLY)