Reynolds Consumer Products Q3 Net Revenue Rises as Profit Falls

Reynolds Consumer Products posted third-quarter net revenue of $944 million for the quarter ended Sept. 30, up from $931 million a year earlier, as net income fell to $58 million from $79 million. Diluted earnings per share under generally accepted accounting principles were $0.28, compared with $0.38 in the year-earlier quarter. Adjusted net income, a non-GAAP measure, was $83 million, down from $88 million. Adjusted earnings per share declined to $0.39 from $0.42. Adjusted EBITDA fell to $163 million from $168 million. Retail volumes were down 7% year over year.

Source: TokenPost