8-K
filed November 8, 2022, 6:59 PM ET
ticker REYN
CIK 0001786431
earnings
confidence high
sentiment negative
materiality 0.75
Reynolds Consumer Products Q3 net income down 27% to $48M; appoints new presidents for two segments
Reynolds Consumer Products Inc.
2022-Q3 EPS reported
$0.72
revenue$2,729,000,000
- Net revenues $967M (+7% YoY); net income $48M (-27%); adjusted EBITDA $116M (-12%); EPS $0.23, adj EPS $0.24.
- FY 2022 guidance: adjusted EBITDA $560-575M; EPS $1.25-1.31; Q4 adj EBITDA $215-230M. Declared $0.23 dividend.
- Judith Buckner named President Reynolds Cooking & Baking; Chris Corey named President Presto Products. Craig Cappel terminated.
- Volume declined across segments; pricing actions offset costs; Reyvolution cost savings accelerating; pre-pandemic profitability expected in 2023.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Reynolds Consumer Products Inc. reported third quarter ended September 30, 2022 results: revenue $967 million, net income $48 million, EPS $0.23.
- Period
- third quarter ended September 30, 2022
- Revenue
- $967 million
- Net income
- $48 million
- EPS
- $0.23
- Result
- reported results
Exact text from the filing
Reynolds Consumer Products Inc. (“Reynolds,” “RCP” or the “Company”) (Nasdaq: REYN) today reported results for the third quarter ended September 30, 2022. Third Quarter 2022 Highlights • Net Revenues of $967 million, up 7% over Q3 prior year net revenues • Net Income of $48 million, down 27% compared to Q3 prior year net income; Adjusted Net Income of $50 million • Adjusted EBITDA of $116 million, down 12% compared to Q3 prior year Adjusted EBITDA • Earnings Per Share of $0.23; Adjusted Earnings Per Share of $0.24
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Chris Corey was appointed as President, Presto Products at Reynolds Consumer Products Inc..
- Action
- appointed
- Role
- President, Presto Products
Exact text from the filing
Chris Corey as President, Presto Products
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Judith Buckner was appointed as President, Reynolds Cooking & Baking at Reynolds Consumer Products Inc..
- Action
- appointed
- Role
- President, Reynolds Cooking & Baking
Exact text from the filing
the Company appointed Judith Buckner as President, Reynolds Cooking & Baking
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Craig Cappel was terminated as President, Reynolds Cooking & Baking at Reynolds Consumer Products Inc..
- Action
- terminated
- Role
- President, Reynolds Cooking & Baking
Exact text from the filing
the Company terminated the employment of Craig Cappel, the Company’s former President, Reynolds Cooking & Baking
View on SEC.gov
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