Reckitt, the consumer goods group known for products like Nurofen, reported a drop in its fourth-quarter like-for-like net revenue, missing analyst expectations. The company announced its Q4 earnings with a net revenue of GBP 56 billion, against an estimated GBP 3.69 billion, and a like-for-like sales decrease of 1.2%, compared to the expected increase of 1.75%. For the full year, like-for-like sales grew by 3.5%, missing the forecast of 4.15%. The decline in sales was attributed to a slowdown in sales of cold and flu season products, alongside issues such as slowed price increases and volume declines. Additionally, Reckitt Benckiser faced a profit drop and a sales slump, partly due to an accounting issue in the Middle East. Shares of Reckitt Benckiser slid following the announcement of these results.
Reckitt Benckiser sales fell, missing analyst forecasts as price rises slowed and volumes continued to decline https://t.co/ViYMiPp3DY via @business #giftlink
Reckitt Benckiser profits slump on sales slowdown and Middle East accounting issue https://t.co/kwdsS8A2IT
Reckitt Benckiser shares slide as sales drop https://t.co/MjCchPyEx3
Reckitt posts drop in fourth-quarter like-for-like net revenue https://t.co/GMAUnDG4EI https://t.co/xvYCMg2BD5
Reckitt Benckiser Sales Miss Expectations, Profit Drops https://t.co/9zEJQb9wYV
Reckitt Benckiser sales fell, missing analyst forecasts as price rises slowed and volumes continued to decline https://t.co/IrwLa30PPq
Reckitt Posts Drop In Fourth-Quarter Like-For-Like Net Revenue - Yahoo https://t.co/CBB2B6VFvJ
⚠️ RECKITT POSTS DROP IN FOURTH-QUARTER LIKE-FOR-LIKE NET REVENUE (Reuters) Consumer goods group Reckitt missed fourth-quarter like-for-like net sales expectations, it said on Wednesday, citing declines in sales of cold and flu season products. The maker of Nurofen pain… https://t.co/PFpMfuv7KR
Reckitt Q4 23 Earnings: - Q4 Net Revenue GBP 56B (est GBP 3.69B) - Q4 LFL Sales -1.2% (est +1.75%) - FY LFL Sales +3.5 (est +4.15%)