Haleon shares plummeted 4.26% in London trading after Q4 organic sales growth stalled at 2.1%, far below the 3.5% analyst consensus. The consumer health giant cited a 1.5 percentage-point headwind from a weak cold and flu season, particularly in Central Europe, which is expected to persist into early 2025. North American volumes fell 3.7%, exceeding prior guidance of a 1% decline, while emerging markets slowed to 5.7% growth from 7.1% in Q3, with Brazil flagged as a weak spot.

Despite delivering a full-year margin of 22.9%—ahead of the 22.6% consensus—the company warned 2026 organic sales growth would range 3–5%, below the 4.6% Visible Alpha estimate. Management attributed the cautious forecast to ongoing consumer demand challenges and a poor seasonal outlook, though it reiterated medium-term ambitions of 4–6% growth. Jefferies analyst David Hayes warned the revised guidance “moves down a level,” calling Haleon a “notable underperformer” amid the revised targets.