Welcome to our dedicated page for Reynolds Consumer Products news (Ticker: REYN), a resource for investors and traders seeking the latest updates and insights on Reynolds Consumer Products stock.
Reynolds Consumer Products Inc., headquartered in Lake Forest, Illinois, is a leading provider of household essentials and operates under several world-class brands. The company is well-known for its flagship Reynolds® products, which include the iconic Reynolds Wrap® aluminum foil, Reynolds® brand parchment paper, oven bags, slow cooker liners, and baking cups. Their product line extends to Cut-Rite® wax paper.
Another prominent brand under their umbrella is Hefty®. Hefty® is celebrated for its strong and dependable waste bags, as well as its slider bags, foam plates, and plastic cups. The company's products are widely available in the United States at mass merchants, grocers, and other retail stores, and are also distributed in approximately 100 countries worldwide.
Reynolds Consumer Products operates through four main reportable segments:
- Reynolds Cooking and Baking: This segment focuses on branded and store brand aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners.
- Hefty Waste and Storage: Known for its durable waste bags and versatile storage solutions.
- Hefty Tableware: This segment offers sturdy foam plates and plastic cups, suited for various occasions and needs.
- Presto Products: This segment includes a range of products aimed at convenience and efficiency in the home.
The firm prides itself on delivering quality household products that meet everyday needs. With a wide-reaching presence and a commitment to innovation, Reynolds Consumer Products continues to lead the market in household essentials. For more information about their extensive range of products, visit their websites: Reynolds Consumer Products, Hefty, and Reynolds Kitchens.
Reynolds Consumer Products (REYN) reported Q3 2024 financial results with net revenues of $910 million, down from $935 million in Q3 2023. Despite lower revenues, net income increased 10% to $86 million, and Adjusted EBITDA rose 4% to $171 million. The company's earnings per share improved to $0.41 from $0.37 year-over-year. Operating cash flow reached $307 million in the first nine months of 2024. The company announced planned CEO and CFO transitions, with Lance Mitchell retiring as President and CEO effective January 1, 2025, to be succeeded by Scott E. Huckins. The company updated its full-year 2024 guidance, expecting net revenues between $3,620-$3,660 million.
Reynolds Consumer Products (Nasdaq: REYN) has announced a quarterly cash dividend of $0.23 per common share. The dividend will be paid on November 29, 2024, to shareholders who are recorded as of November 15, 2024.
Reynolds Wrap has introduced Fun Foil with Holiday Pattern, a -edition embossed aluminum foil designed for festive occasions. This innovative product features an original winter wonderland design created in collaboration with designer Brittany Jepsen from The House That Lars Built. The foil is intended for wrapping homemade food gifts, covering holiday potluck dishes, and sharing leftovers.
Available on Amazon.com and Walmart.com while supplies last, the Fun Foil with Holiday Pattern aims to elevate holiday celebrations by adding a cheerful and festive twist to Reynolds Wrap's classic foil. The product joins Reynolds' lineup of solutions that simplify holiday meal prep, cooking, and cleanup, continuing the brand's 75-year tradition of being part of families' holiday traditions.
Reynolds Consumer Products Inc. (Nasdaq: REYN) has announced an amendment to its credit agreement, replacing its undrawn $250 million senior secured revolving credit facility with an undrawn $700 million senior secured revolving credit facility. The new facility, led by Wells Fargo, extends the maturity date from February 2026 to October 2029.
The upsized facility aligns Reynolds with companies of similar credit strength. The company's existing senior secured term loan facility, maturing in February 2027, remains unchanged with $1.784 billion outstanding as of June 30, 2024.
CFO Scott Huckins stated that the company's capital allocation priorities remain unchanged, and this move aims to optimize their capital structure and increase financial flexibility. Reynolds continues to monitor market conditions for refinancing the term loan facility, leveraging its strong cash flow profile and improved credit metrics.
Reynolds Consumer Products Inc. (Nasdaq: REYN) has announced that it will report its third quarter 2024 financial results on Wednesday, October 30, 2024. The company's President and CEO, Lance Mitchell, along with CFO Scott Huckins, will host a live webcast to discuss the results at 7:00 a.m. CT (8:00 a.m. ET) on the same day. Investors and interested parties can access the webcast and all related earnings materials through the company's investor relations website at https://investors.reynoldsconsumerproducts.com/.
Reynolds Consumer Products Inc. (Nasdaq: REYN) has announced its participation in the Barclays Global Consumer Staples Conference in Boston. Lance Mitchell, President and CEO, and Scott Huckins, CFO, will host a fireside chat on September 4, 2024, at 1:30 p.m. ET.
The event will be webcast live and can be accessed through the company's website in the 'Events & Presentations' section. A replay of the webcast will be available after the event. This participation provides an opportunity for investors and analysts to gain insights into Reynolds Consumer Products' strategies and performance directly from its top executives.
Reynolds Consumer Products Inc. (Nasdaq: REYN) reported strong Q2 2024 financial results, with Net Revenues of $930 million and Retail Revenue Growth of 1% ahead of expectations. Net Income and Adjusted EBITDA increased by 47% and 15% respectively. The company raised its full-year guidance for Net Revenue, Adjusted EBITDA, and Net Income. Key highlights include:
- Retail Net Revenues increased 1% to $892 million
- Net Income and Adjusted Net Income of $97 million
- Adjusted EBITDA of $172 million
- Earnings Per Share of $0.46
- Net Debt Leverage reduced to 2.4x at quarter-end
The company's strong performance was driven by manufacturing volume output, lower operational costs, and outperformance in several product categories. Reynolds Consumer Products continues to focus on innovation, cost reduction, and strategic investments for long-term growth.
Reynolds Consumer Products Inc. (Nasdaq: REYN) has announced a quarterly cash dividend of $0.23 per common share. The dividend will be payable on August 30, 2024, to shareholders of record as of August 16, 2024. This declaration by the Board of Directors demonstrates the company's commitment to returning value to its shareholders through regular dividend payments.
Reynolds Consumer Products Inc. (Nasdaq: REYN) has announced that it will release its second quarter 2024 financial results on Wednesday, August 7, 2024. The company's President and CEO, Lance Mitchell, along with CFO Scott Huckins, will host a live webcast to discuss the results at 7:00 a.m. CT (8:00 a.m. ET) on the same day. Investors and interested parties can access the webcast and related earnings materials through the company's investor relations website at https://investors.reynoldsconsumerproducts.com/.
Reynolds Wrap and ButcherBox have teamed up to launch the first-ever BBQterie Kits just in time for summer. These kits, available for $119 from June 13, 2024, include grilling essentials like Reynolds Wrap Heavy Duty Foil and high-quality meats from ButcherBox. The kit also features recipes and a BBQterie guide by experts Emmy Rener and Ben McGraw. The collaboration aims to simplify summer grilling and elevate gatherings. The kits are exclusively available online at ButcherBox.com while supplies last.
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