I reiterate my hold rating on Reynolds Consumer Products due to visible headwinds expected to pressure FY25 performance despite the current valuation of ~16x forward PE. REYN should meet its revised 4Q24 revenue guidance, benefiting from the holiday season, with management's accurate guidance history supporting this expectation. Key headwinds include continued weakness in the Hefty Tableware segment due to value-conscious consumer behavior and potential permanent demand impairment from foam product bans.
Reynolds Consumer Products Inc. (NASDAQ:REYN ) Q3 2024 Earnings Conference Call October 30, 2024 8:00 AM ET Company Participants Mark Swartzberg - Vice President of Investor Relations Lance Mitchell - President & Chief Executive Officer Scott Huckins - Chief Financial Officer Conference Call Participants Nik Modi - RBC Capital Markets Andrea Teixeira - JPMorgan Mark Astrachan - Stifel Jim Abbott - Barclays Robert Ottenstein - Evercore Peter Grom - UBS Brian McNamara - Canaccord Genuity Operator Greetings and welcome to the Reynolds Consumer Products, Incorporated Third Quarter 2024 Earnings Call. At this time, all participants are in listen-only mode.
Although the revenue and EPS for Reynolds Consumer Products (REYN) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Reynolds Consumer Products (REYN) came out with quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.37 per share a year ago.
Reynolds Consumer Products (REYN) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Here is how Reynolds Consumer Products (REYN) and Sinclair (SBGI) have performed compared to their sector so far this year.
The headline numbers for Reynolds Consumer Products (REYN) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Reynolds Consumer Products (REYN) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.32 per share a year ago.
Reynolds Consumer Products (REYN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.