NASDAQ$REYN
Reynolds Consumer Products Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported financial results for the first quarter, with results in-line with expectations and reaffirming the full year guide.
Reynolds Consumer Products reported a 3% increase in net revenues to $874 million in Q1 2023. Net income decreased to $17 million, and adjusted EBITDA decreased to $82 million. The company reiterates its outlook for the full year and introduces its second quarter 2023 outlook.
- Net revenues increased by 3% to $874 million compared to the prior year.
- Net income was $17 million, down from $52 million in Q1 2022.
- Adjusted EBITDA was $82 million, compared to $112 million in Q1 2022.
- The company reaffirms its full-year guidance.
Headline financials
Revenue & EPS history
Reynolds · Revenue · Quarterly
$874M
Revenue by segment
Reynolds · $874M total across 5 segments · Q1 2023
- Reynolds Cooking & Baking$283M+5.6%32.4%
- Hefty Waste & Storage$233M+2.2%26.7%
- Hefty Tableware$224M+6.7%25.6%
- Presto Products$144M+2.1%16.5%
- Unallocated-$10M-400.0%-1.1%
Forward guidance
The Company reiterates its outlook for the full year and introduces its second quarter 2023 outlook as follows:
Tailwinds
- We expect to further recover pre-pandemic profitability in 2023 driven by improving performance for Reynolds Cooking & Baking
- We expect continued solid performance for Hefty Waste & Storage, Hefty Tableware and Presto.
- Commodity rates are assumed to be relatively stable versus end of April levels.
- We expect flat to 2% top-line growth and margin expansion in the second quarter, driven partly by improving Reynolds Cooking & Baking margins
- We expect to increase advertising and trade investment in 2023 while also paying down debt, driven by earnings growth, increased balance sheet efficiency and continued capital spending discipline.
Headwinds
- The carryover of higher cost aluminum
- The impact of operational inefficiencies in Reynolds Cooking & Baking are expected to impact second quarter results, though to a lesser extent than in the first quarter.
- Net revenues Flat +/- 1% growth
- Net income $274 to $296 million
- Earnings per share $1.30 to $1.41
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.7%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-1.1%
Avg return
30 days after
41%
12 / 29 earnings
Positive
+9.6%
Q4 2025
Best reaction
-9.0%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | +1.5% | +5.4% | |
| Q4 2025 | +9.6% | +4.5% | +4.1% | |
| Q3 2025 | +5.1% | +3.5% | +5.4% | |
| Q1 2025 | -3.0% | -1.7% | -6.8% | |
| Q4 2024 | -4.2% | -11.5% | -12.1% | |
| Q3 2024 | -8.7% | -8.7% | -6.2% | |
| Q2 2024 | +5.2% | +4.8% | +13.4% | |
| Q1 2024 | +3.0% | +2.1% | -1.6% | |
| Q4 2023 | +2.5% | +2.5% | +4.1% | |
| Q3 2023 | +5.3% | +3.7% | +2.1% | |
| Q2 2023 | +1.5% | +1.8% | -5.6% | |
| Q1 2023 | +6.2% | +3.3% | +1.4% | |
| Q4 2022 | -3.4% | -2.6% | -8.4% | |
| Q3 2022 | -7.6% | -3.1% | +0.5% | |
| Q2 2022 | -3.6% | -3.0% | -5.5% | |
| Q1 2022 | -2.8% | -0.5% | -9.2% | |
| Q4 2021 | +2.0% | +3.6% | +0.9% | |
| Q3 2021 | +2.8% | +3.1% | +4.6% | |
| Q2 2021 | -2.1% | -2.5% | -1.3% | |
| Q1 2021 | +0.1% | +3.1% | -0.7% | |
| Q4 2018 | -0.3% | +0.1% | +2.8% | |
| Q4 2020 | -3.0% | -2.8% | -1.9% | |
| Q3 2019 | -2.3% | -1.6% | -1.4% | |
| Q3 2020 | +0.3% | +3.0% | +3.2% | |
| Q2 2020 | -9.0% | -4.4% | -8.3% | |
| Q2 2019 | -9.0% | -4.4% | -8.3% | |
| Q1 2019 | -1.1% | +1.4% | -2.9% | |
| Q1 2020 | -1.1% | +1.4% | -2.9% | |
| Q4 2019 | -2.0% | -11.3% | +3.2% |
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