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Sep 30, 2024
Reynolds Q3 2024 Earnings Report
Reported strong financial results with net revenues and retail volume in line with expectations.
Key Takeaways
Reynolds Consumer Products reported third-quarter results, with net revenues of $910 million. Net income increased to $86 million and adjusted EBITDA increased to $171 million. The company updated its full-year guidance for net revenue, net income, and adjusted EBITDA.
Net Revenues reached $910 million, compared to $935 million in Q3 2023.
Net Income and Adjusted Net Income increased to $86 million, up from $78 million in Q3 2023.
Adjusted EBITDA increased to $171 million, compared to $165 million in Q3 2023.
Earnings Per Share and Adjusted Earnings Per Share increased to $0.41, up from $0.37 in Q3 2023.
Revenue by Segment
Forward Guidance
The Company guides full-year 2024 Net Revenues to be approximately $3,620 million to $3,660 million versus prior year Net Revenues of $3,756 million.
Positive Outlook
- Retail volume at or above category forecasts
- Improvements in product mix
- Reynolds Cooking & Baking business’s recovery of historical earnings
- Delivery of additional Reyvolution cost savings
- Approximately $20 million expected reduction in interest expense compared to 2023
Challenges Ahead
- 1% reduction from pricing
- 0.5% reduction to 0.5% increase from retail volume
- 2% reduction from lower non-retail volume
- Optimization of the retail product portfolio
- Fourth quarter 2024 Net Revenues to be approximately $945 million to $985 million versus prior year fourth quarter Net Revenues of $1,007 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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