Reckitt reported strong Q1 2023 results, with revenue up 7.9%/14.4% on a LFL/reported basis to £9.72bn (5.1% ahead of the consensus), driven by double-digit LFL growth in Health and Nutrition. The FY23 growth guidance was raised to 3%-5% including US nutrition headwinds, with the margin guidance reiterated. Kris Licht will replace Nicandro Durante as CEO. We do not expect significant changes to our estimates or target price, but consensus estimates may see a 2-3% upgrade.
10 May 2023
Good Q1 23 underpinned by encouraging broad-based trends
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Good Q1 23 underpinned by encouraging broad-based trends
Reckitt Benckiser Group plc (RKT:LON) | 4,435 2971.5 1.5% | Mkt Cap: 31,292m
- Published:
10 May 2023 -
Author:
Virendra Chauhan -
Pages:
3
Reckitt reported strong Q1 2023 results, with revenue up 7.9%/14.4% on a LFL/reported basis to £9.72bn (5.1% ahead of the consensus), driven by double-digit LFL growth in Health and Nutrition. The FY23 growth guidance was raised to 3%-5% including US nutrition headwinds, with the margin guidance reiterated. Kris Licht will replace Nicandro Durante as CEO. We do not expect significant changes to our estimates or target price, but consensus estimates may see a 2-3% upgrade.