Reynolds Q1 net income falls to $17M from $52M; revenue up 3% to $874M; FY guide reaffirmed

Reynolds Consumer Products Inc.

2023-Q1 EPS reported $0.08 revenue$874,000,000

Net revenues $874M (+3% YoY); Net income $17M ($0.08 EPS) vs $52M ($0.25 EPS) in Q1 2022.
Adjusted EBITDA $82M vs $112M; adjusted EPS $0.08 vs $0.26; operating cash flow $88M vs $19M.
Reynolds Cooking & Baking segment Adjusted EBITDA fell 86% to $4M on higher material/manufacturing costs.
Hefty Waste & Storage Adjusted EBITDA up 22%, Hefty Tableware up 30% due to price actions.
Company reaffirms FY2023 guidance: Net income $274-296M, Adjusted EBITDA $605-635M, EPS $1.30-1.41.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Reynolds Consumer Products Inc. reported Fiscal Year 2023 results: revenue Net revenues Flat +/- 1% growth, net income Net income(1) $274 to $296 million, EPS Earnings per share(1) $1.30 to $1.41. Guidance reaffirmed.

Period: Fiscal Year 2023
Revenue: Net revenues Flat +/- 1% growth
Net income: Net income(1) $274 to $296 million
EPS: Earnings per share(1) $1.30 to $1.41
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Fiscal Year 2023 Outlook Net revenues Flat +/- 1% growth Net income(1) $274 to $296 million Adjusted EBITDA $605 to $635 million Earnings per share(1) $1.30 to $1.41

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Reynolds Consumer Products Inc. reported Q2 2023 results: revenue Net revenues Flat to 2% growth, net income Net income(1) $57 to $64 million, EPS Earnings per share(1) $0.27 to $0.30. Guidance initiated.

Period: Q2 2023
Revenue: Net revenues Flat to 2% growth
Net income: Net income(1) $57 to $64 million
EPS: Earnings per share(1) $0.27 to $0.30
Guidance: initiated
Result: guidance update

Exact text from the filing

Q2 2023 Outlook Net revenues Flat to 2% growth Net income(1) $57 to $64 million Adjusted EBITDA $135 to $145 million Earnings per share(1) $0.27 to $0.30

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Reynolds Consumer Products Inc. reported the first quarter ended March 31, 2023 results: revenue $874 million, net income $17 million, EPS $0.08. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $874 million
Net income: $17 million
EPS: $0.08
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Quarter 2023 Highlights • Net Revenues of $874 million, up 3% over Q1 prior year net revenues • Net Income of $17 million vs. $52 million in Q1 2022 • Adjusted EBITDA of $82 million vs. $112 million in Q1 2022 • Earnings Per Share of $0.08 vs. $0.25 in Q1 2022

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Source: SEC EDGAR

accession 0001628280-23-017019

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