Reynolds Consumer Products Provides Update Ahead of Barclays Global Consumer Staples Conference
September 08 2022 - 7:00AM
Business Wire
Reynolds 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.
The 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.
As 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.
About Reynolds Consumer Products Inc.
RCP’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.
Note to Investors Regarding Forward Looking
Statements
This 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 forward-looking words such as “may,” “might,” “will,”
“should,” “expects,” “intends,” “outlook,” “forecast”, “committed,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“model”, “assumes,” “confident,” “potential” or “continue,” the
negative of these terms and other comparable terminology. These
forward-looking statements, which are subject to risks,
uncertainties and assumptions about us, may include projections of
our future financial performance, our anticipated growth,
management of costs and other disruptions and other strategies, and
anticipated trends in our business, including expected levels of
commodity costs and volume. These statements are only predictions
based on our current expectations and projections about future
events. There are important factors that could cause our actual
results, level of activity, performance or achievements to differ
materially from the results, level of activity, performance or
achievements expressed or implied by the forward-looking
statements, including but not limited to the risk factors set forth
in our most recent Annual Report on Form 10-K.
For additional information on these and other factors that could
cause our actual results to materially differ from those set forth
herein, please see our filings with the Securities and Exchange
Commission, including our most recent Annual Report on Form 10-K
and subsequent filings. Investors are cautioned not to place undue
reliance on any such forward-looking statements, which speak only
as of the date they are made. The Company undertakes no obligation
to update any forward-looking statement, whether as a result of new
information, future events or otherwise.
REYN-F
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version on businesswire.com: https://www.businesswire.com/news/home/20220908005345/en/
Investors Mark Swartzberg
Mark.Swartzberg@reynoldsbrands.com (847) 482-4081
Media Hannah Wright ReynoldsPR@icrinc.com (203)
682-8287
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