LONDON, April 30, 2026, 17:09 BST
Haleon PLC is sticking to its 2026 guidance after notching a 2.2% increase in first-quarter organic revenue. Sensodyne and parodontax performed well, but that wasn’t enough to fully counter the slump from a lackluster cold-and-flu season. Organic revenue reflects growth excluding currency shifts and portfolio changes.
The timing isn’t ideal for the consumer health group. Haleon is sticking with its full-year organic revenue growth forecast of 3% to 5%. But after a sluggish first quarter, the company faces a steeper climb over the next few months if it wants to reach that goal. Its medium-term target is unchanged at 4% to 6%.
North America is back to organic growth—up 1.0%—following a rougher 2025. Now, the region’s rebound has to gather steam if the company wants a shot at the top of its annual guidance.
Haleon posted revenue of 2.86 billion pounds, a slim 0.1% increase. Prices climbed 2.4%, offset by a 0.2% drop in volume and mix. The company pointed to a mild cold-and-flu season, saying it shaved roughly 130 basis points—1.3 percentage points—from growth. Organic growth landed at 2.2%, just under the 2.3% analysts had forecast, according to a company-compiled consensus cited by Reuters.
Oral Health was the standout, up 8.3% to 932 million pounds. Respiratory Health dropped 3.4%. Pain Relief edged down 0.3%, Digestive Health dipped 0.4%. Vitamins, Minerals and Supplements added 1.7%.
Chief Executive Brian McNamara described the results as a “competitive performance in a challenging market,” adding that he expects growth to “accelerate across the balance of the year.” Haleon has also finished around 36% of its planned 500 million-pound share buyback for 2026. Haleon Corporate
There’s a risk the catch-up gets messy. Haleon finance chief Dawn Allen told analysts the company had begun facing “surcharges on freight” and was bracing for more. Over in the Middle East—a region bringing in about 5% of Haleon’s revenue—Reuters said consumer spending slid by a low-double-digit percentage. Procter & Gamble and Reckitt, too, are feeling the sting of pricier energy and shipping, fallout from the Iran conflict, according to Reuters. Reuters
Haleon isn’t alone in feeling the drag from a sluggish cold-and-flu market. Reckitt has run into the same issue, with demand coming in on the soft side. That’s left investors warier of consumer health stocks tied to products like Theraflu, Robitussin, Mucinex, and Nurofen—brands that depend on a rough winter to drive sales, not a mild one.
Chris Beckett at Quilter Cheviot didn’t sound convinced on Haleon, saying the group was “only firing on two cylinders” and needs more than its toothpaste arm to really move the needle. The consumer staples analyst acknowledged North America’s growth rebound, calling it a good sign, but said it’s still too early for that alone to shift the narrative. City AM
Haleon slipped 3.08% to 3.40 pounds on Wednesday after the latest update, MarketWatch reported. Heading into Thursday’s London close, Hargreaves Lansdown had the stock near 340 pence—basically flat compared to the day before.
Haleon announced that every one of the 23 resolutions at its 2026 annual general meeting cleared the poll, covering both the final dividend and board re-elections.
