Reynolds Q4 2019 Earnings Report
Key Takeaways
Reynolds Consumer Products reported fourth quarter net revenues of $835 million and net income of $90 million. The company's results were in line with projections, and they initiated a quarterly cash dividend.
Net Revenues for the fourth quarter of 2019 were $835 million, compared to $907 million in the prior year period.
Net Income for the fourth quarter of 2019 was $90 million compared to $84 million in the prior year period.
Adjusted EBITDA for the fourth quarter of 2019 was $214 million compared to $224 million in the prior year period.
The company announced the initiation of a quarterly cash dividend, with the initial dividend for the first quarter of 2020 set at $0.15 per common share.
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Forward Guidance
For the fiscal year ending December 31, 2020, the Company is providing the following guidance:
Positive Outlook
- Net Income to be in the range of $320 million to $350 million
- Earnings per share to be in the range of $1.52 to $1.67 per share
- Adjusted Net Income to be in the range of $350 million to $370 million
- Adjusted earnings per share to be in the range of $1.67 to $1.76 per share
- Adjusted EBITDA to be in the range of $675 million to $695 million
Challenges Ahead
- Net Debt to be in the range of $2.0 billion to $2.2 billion