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Reynolds Consumer Products Provides Update Ahead of Barclays Global Consumer Staples Conference
LAKE FOREST, Ill,--(BUSINESS WIRE)-- Reynolds Consumer Products Inc. (“Reynolds,” “RCP” or the “Company”) (Nasdaq: REYN) today reiterated its fourth quarter
About this update from Reynolds Consumer Products Inc.
[{"type":"text","content":" LAKE FOREST, Ill,--(BUSINESS WIRE)--\nReynolds Consumer Products Inc. (“Reynolds,” “RCP” or the “Company”) (Nasdaq: REYN) today reiterated its fourth quarter and fiscal year ending December 31, 2022, and updated its net revenue growth range outlook for its third quarter ending September 30, 2022.\n\nThe Company reiterates the earnings guidance ranges that it provided in its earnings release issued on August 9, 2022 for its third quarter ending September 30, 2022 and its fourth quarter and fiscal year ending December 31, 2022. However, the Company is updating its expected net revenue performance for the third quarter to net revenue growth at the low end of its previously communicated range of 8% to 12% on $905 million in the prior year, due to third party non-retail sales volume declines and the impact of elasticity and re-opening on the Company’s waste and food bag businesses.\n\nAs previously announced, management will host a fireside chat at the Barclays Global Consumer Staples Conference in Boston today at 7:30 a.m. ET. The fireside chat will be webcast live and can be accessed on the “Events & Presentations” section of the Company’s Investor Relations website at https://investors.reynoldsconsumerproducts.com/. The webcast will be archived and available for replay.\n\nAbout Reynolds Consumer Products Inc.\n\nRCP’s mission is to simplify daily life so consumers can enjoy what matters most. RCP is a market-leading consumer products company with a presence in 95% of households across the United States. RCP produces and sells products across three broad categories: cooking products, waste and storage products and tableware; that are sold under iconic brands such as Reynolds and Hefty, as well as under store brands that are strategically important to RCP’s customers. Overall, across both branded and store brand offerings, RCP holds the #1 or #2 U.S. market share position in the majority of product categories in which it participates.\n\nNote to Investors Regarding Forward Looking Statements\n\nThis press release contains statements reflecting our views about our future performance that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including our third quarter, fourth quarter and fiscal year 2022 guidance. In some cases, you can identify these statements by forwa...