Reynolds Consumer’s stock up premarket after revenue beat as company sees full-year earnings at high end of guidance

Reynolds Consumer Products Inc.’s stock REYN, -0.23% rose 1.1% early Wednesday, after the maker of household products posted better-than-expected revenue for the third quarter and offered upbeat guidance. The Lake Forest, Ill.-based company had net income of $78 million, or 37 cents a share, up from $48 million, or 24 cents a share, in the year-earlier period. Revenue fell 3% to $935 million. The FactSet consensus was for EPS of 37 cents and revenue of $932 million.

“We accelerated margin expansion and delivered earnings at the upper end of our guide driven by market share gains, continued execution of the Reynolds Cooking & Baking recovery plan and significant improvements in profitability of our other businesses,’ CEO Lance Mitchell said in a statement. The company is now expecting full-year earnings to come in at the high end of its previous range. It narrowed the revenue range to $288 million to $296 million from $281 million to $296 million.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vivid Seats’ stock jumps after better-than-expected Q3 revenue and acquisition of Vegas.comCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

Brink’s Q3 earnings top estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

LL Flooring’s Q3 loss is wider than expected in weak housing marketCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »