Reynolds Consumer Products: Q1 Earnings Snapshot

May 10, 2022 GMT

LAKE FOREST, Ill. (AP) _ Reynolds Consumer Products Inc. (REYN) on Tuesday reported first-quarter earnings of $52 million.

On a per-share basis, the Lake Forest, Illinois-based company said it had net income of 25 cents. Earnings, adjusted for non-recurring costs, came to 26 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The company posted revenue of $818 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $856.5 million.

For the current quarter ending in July, Reynolds Consumer Products expects its per-share earnings to range from 23 cents to 27 cents.

The company said it expects revenue in the range of $873 million for the fiscal second quarter.


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