Reynolds Consumer Products Q2 net income up 27%; raises full-year EPS guidance to $1.34-$1.41

Reynolds Consumer Products Inc.

2023-Q2 EPS reported $0.40 revenue$1,814,000,000

Q2 net revenues $940M (+3% YoY), net income $66M (+27%), adjusted EBITDA $150M (+27%), EPS $0.32 (+28%).
Segment: Reynolds Cooking & Baking rev $321M (+9%), EBITDA $40M (+11%); Hefty Waste rev $229M (-4%), EBITDA $62M (+35%).
Hefty Tableware rev $251M (+5%), EBITDA $45M (+80%); Presto rev $145M (-3%), EBITDA $28M (+12%).
Operating cash flow $207M in H1 2023 vs $101M in H1 2022; voluntary $100M debt payment after quarter end.
Updated FY23 outlook: net income $281-296M, Adj. EBITDA $615-635M, EPS $1.34-1.41; Q3 guide and $0.23 dividend declared.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Reynolds Consumer Products Inc. reported second quarter ended June 30, 2023 results: revenue $940 million, net income $66 million, EPS $0.32. Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $940 million
Net income: $66 million
EPS: $0.32
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reynolds Consumer Products Inc. (the “Company”) (Nasdaq: REYN) today reported financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights • Net Revenues of $940 million, up 3% over Q2 prior year Net Revenues • Net Income of $66 million vs. $52 million in Q2 2022, up 27% over Q2 prior year Net Income • Adjusted EBITDA of $150 million vs. $118 million in Q2 2022, up 27% over Q2 prior year Adjusted EBITDA • Earnings Per Share of $0.32 vs. $0.25 in Q2 2022, up 28% over Q2 prior year Earnings Per Share

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Source: SEC EDGAR

accession 0001628280-23-028395

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