Reynolds Consumer Products Inc. (REYN) Tops Q2 EPS by 1c, Offers Guidance

Reynolds Consumer Products Inc. (NASDAQ: REYN) reported Q2 EPS of $0.39, $0.01 better than the analyst estimate of $0.38. Revenue for the quarter came in at $873 million versus the consensus estimate of $891.42 million.

GUIDANCE:

Reynolds Consumer Products Inc. sees FY2021 EPS of $1.54-$1.64, versus the consensus of $1.90.

• Net revenues to grow high single digits on $3,263 million in the prior year

Reynolds Consumer Products Inc. sees Q3 2021 EPS of $0.30-$0.33, versus the consensus of $0.47.

• Net revenues to grow high single digits on $823 million in the prior year
• The Company is expecting high single-digit revenue growth in its third quarter, reflecting recently implemented price increases and volume anticipated to be similar to Q3 2020 levels.
• Despite the expected revenue growth over the prior-year quarter, the Company expects short-term earnings pressure in the third quarter, primarily driven by increases in resin and aluminum costs in excess of price increases going into effect during the third quarter.

For earnings history and earnings-related data on Reynolds Consumer Products Inc. (REYN) click here.

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