Business
Reynolds Consumer Products Reports First Quarter 2025 Financial Results
Driving Share Gains Across Business Investing in Attractive Growth and Cost Savings Programs Updating Fiscal 2025 Outlook LAKE FOREST, Ill.--(BUSINESS
About this update from Reynolds Consumer Products Inc.
[{"type":"text","content":"\nDriving Share Gains Across Business\n\nInvesting in Attractive Growth and Cost Savings Programs\n\nUpdating Fiscal 2025 Outlook\n\n LAKE FOREST, Ill.--(BUSINESS WIRE)--\nReynolds Consumer Products Inc. (the “Company” or “RCP”) (Nasdaq: REYN) today reported financial results for the first quarter ended March 31, 2025.\n\nFirst Quarter 2025 Highlights\n\n\nNet Revenues of $818 million vs. $833 million in Q1 2024\n\n\nRetail Net Revenues decreased 3% to $767 million\n\n\nRetail volume decreased 4% and was impacted by a later Easter timing and retailer destocking\n\n\nNon-Retail Revenues, which comprises aluminum sales to food service and industrial customers, increased $12 million to $51 million\n\n\n\n\nNet Income of $31 million vs. $49 million in Q1 2024; Adjusted Net Income of $49 million was unchanged vs. Q1 2024\n\n\nAdjusted EBITDA of $117 million vs. $122 million in Q1 2024\n\n\nEarnings Per Share of $0.15 vs. $0.23 in Q1 2024; Adjusted Earnings Per Share of $0.23 was unchanged vs. Q1 2024\n\n\nNet Income decreased to $31 million versus $49 million in the first quarter of 2024, driven by $10 million of after tax refinancing costs and $8 million of after tax CEO transition costs and strategic investments in cost savings and revenue growth initiatives. Adjusted Net Income was unchanged year over year. Adjusted EBITDA decreased to $117 million reflecting lower volume and higher operational costs, partially offset by higher pricing and lower SG&A.\n\nThe Company refinanced the remaining $1.645 billion of its original $2.475 billion term loan facility during the quarter, extending the maturity of this debt to 2032 and further enhancing financial flexibility.\n\n“We are executing well in a dynamic consumer and retail environment, outperforming our categories by two points in the quarter,” said Scott Huckins, President and Chief Executive Officer. “Our US-centric manufacturing platform and business model are resilient, and we are effectively navigating the near-term macro challenges in partnership with our retail customers. We are also making progress advancing initiatives to drive growth and margin expansion that deliver long term value.”\n\nReynolds Cooking & Baking\n\n\nNet Revenues increased $3 million to $259 million, reflecting higher Non-retail Revenues, partially offset by a decrease in Retail Net Revenues\n\n\nAdjusted E...