Reynold's Stock Rises After Beating Earnings Estimates

Reynolds Consumer Products Inc.’s stock REYN jumped 3.5% premarket Wednesday after the maker of household products beat estimates for the second quarter. Lake Forest, Ill.-based Reynolds posted net income of $66 million, or 32 cents a share, for the quarter, up from $52 million, or 25 cents a share, in the year-earlier period. Adjusted per-share earnings were also 32 cents, ahead of the 28 cent FactSet consensus. Revenue rose 3% to $940 million to beat the $937 million FactSet consensus.

-based Reynolds posted net income of $66 million, or 32 cents a share, for the quarter, up from $52 million, or 25 cents a share, in the year-earlier period. Adjusted per-share earnings were also 32 cents, ahead of the 28 cent FactSet consensus. Revenue rose 3% to $940 million to beat the $937 million FactSet consensus. Revenue was driven by higher pricing and unchanged volume compared to the prior year.

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