Reynolds Consumer Products Inc. · NASDAQ:REYN
Reynolds Consumer Products — Q1 2024 Earnings Presentation
21 slides from Reynolds Consumer Products's earnings presentation, May 8, 2024
Slide 1: Q1 2024 Earnings Call
Q1 2024 Earnings Call May 8, 2024
Slide 2: Safe Harbor
Safe Harbor This presentation 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 second quarter and full year 2024 guidance. In some cases, you ca
Slide 3: At-A-Glance
At-A-Glance Headquarters: Lake Forest, IL Nasdaq: REYN $3,756M ~6,000 IPO January 2020 2023 Net Revenues Employees #1 or #2 US market share position in the majority of product categories 95% of households across the US have at least 1 RCP product
Slide 4: Our products simplify daily life so you can enjoy what matters most
Our products simplify daily life so you can enjoy what matters most We make cooking, serving, clean-up and storage simpler and easier, providing people a little more time for the things that matter
Slide 5: 2024 Priorities
2024 Priorities ✓ Protect and drive volume by leveraging our competitively advantaged business model and investing in our categories and product innovation ✓ Innovate with new sustainable solutions and other new products to further differentiate our offerings in our categories ✓ Continue to optimize
Slide 6: CEO quote on strong first quarter results
“We delivered strong first quarter results reflecting our commitment to driving our categories, expanding margins and increasing financial flexibility. Our business is performing well and we are implementing plans to advance this performance while investing in strategic opportunities to drive growth
Slide 7: Q1 2024 Financial Highlights
Q1 2024 Financial Highlights $833m $122m 15% Net Revenues Adj. EBITDA1 Adj. EBITDA margin1 Net Revenues By Segment2 Adj EBITDA By Segment1,2 Reynolds Cooking & Baking Reynolds Cooking & Baking Hefty Waste & Storage Hefty Waste & Storage Hefty Tableware Hefty Tableware Presto Products Presto Products
Slide 8: Reynolds Cooking & Baking
Reynolds Cooking & Baking Segment Results Q1 ’24 Q1 ’23 Net Revenues $264 million $283 million Adj. EBITDA $33 million $4 million % Adj. EBITDA margin 13% 1% Adjusted EBITDA increased significantly, driven by improved operational stability and lower operational costs. Volume was down 8%, with perfor
Slide 9: Hefty Waste & Storage
Hefty Waste & Storage Segment Results Q1 ’24 Q1 ’23 Net Revenues $229 million $233 million Adj. EBITDA $66 million $55 million % Adj. EBITDA margin 29% 24% Adjusted EBITDA increased $11 million driven by lower operational costs. Volume decreased 2%, consistent with category trends. Innovation highli
Slide 10: Hefty Tableware
Hefty Tableware Segment Results Q1’24 Q1’23 Net Revenues $205 million $224 million Adj. EBITDA $30 million $30 million % Adj. EBITDA margin 15% 13% Volume decreased 6% and improved, by comparison, to the second half and fourth quarter 2023 performance. Lower operational costs offset the decline in r
Slide 11: Presto Products
Presto Products Segment Results Q1’24 Q1’23 Net Revenues $143 million $144 million Adj. EBITDA $29 million $19 million % Adj. EBITDA margin 20% 13% Adjusted EBITDA increased $10 million driven by lower operational costs. Volume decreased 1% reflecting sequential improvement in private label food bag
Slide 12: Outlook
STORAGE GALLON STORAGE ‘QUART Outlook
Slide 13: Q2 and Full Year 2024 Outlook
Q2 and Full Year 2024 Outlook Metric Q2 2024 Outlook Prior FY 2024 Outlook Current FY 2024 Outlook Net Revenues $875 to $900 million $3,530 to $3,640 million $3,530 to $3,640 million Net Income and Adj Net Income $88 to $96 million1 $331 to $347 million $341 to $357 million1 Adjusted EBITDA $160 to
Slide 14: Advancing Sustainability Through Innovative Solutions
Advancing Sustainability Through Innovative Solutions Our goal is to offer sustainable options in each product line across our portfolio by 2025. Please refer to the Hefty.com and ReynoldsBrands.com for specific product and packaging features
Slide 15: Non-GAAP Reconciliation Tables
Non-GAAP Reconciliation Tables
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures We use non-GAAP financial measures “Adjusted EBITDA,” “Adjusted Net Income,” “Adjusted Earnings Per Share,” “Net Debt” and “Net Debt to Trailing Twelve Months Adjusted EBITDA,” in evaluating our past results and future prospects. We define Adjusted EBITDA as net income ca
Slide 17: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA
Slide 18: Reconciliation of Trailing Twelve Months Net Income to Adjusted EBITDA
Reconciliation of Trailing Twelve Months Net Income to Trailing Twelve Months Adjusted EBITDA
Slide 19: Reconciliation of Total Debt to Net Debt and Net Debt to TTM Adjusted EBITDA
Reconciliation of Total Debt to Net Debt and Calculation of Net Debt to Trailing Twelve Months Adjusted EBITDA
Slide 20: Reconciliation of Q2 2024 and FY2024 Net Income Guidance to Adjusted EBITDA Guidance
Reconciliation of Q2 2024 and FY2024 Net Income Guidance to Adjusted EBITDA Guidance
Slide 21: Reynolds Consumer Products
Reynolds Y) Consumer Products
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