Reckitt Benckiser has revised its full-year outlook downward following disruptions in the manufacturing of its Lysol cleaning products, which impacted sales in North America. Shares of the consumer goods company fell 4.52% in response to the news.
The British company, known for its brands including Lysol, Mucinex, and Durex, now expects its core business to achieve revenue growth of 3.5% to 4.5% this year. This marks a decrease from its previous forecast made in July, which projected growth between 4% and 5%.
Reckitt’s core business figures do not include its Essential Home division, which it divested last year, nor its infant formula unit, Mead Johnson Nutrition. The adjustment in expectations reflects challenges in meeting demand for its hygiene products, an area that saw significant growth during the pandemic.
As the company navigates these manufacturing issues, it has highlighted the importance of stabilizing production to restore revenue growth in the coming quarters. No specific timeline for resolution has been provided.
