Reynolds Consumer Products reported Q1 earnings above estimates driven by increased demand for household essentials.
Reynolds Consumer Products reported first-quarter earnings of $0.58 per share, topping consensus estimates of $0.53. Revenue rose 4.2% year-over-year to $920 million, supported by stronger volumes in its core aluminum foil and trash bag segments.
The company cited resilient consumer demand for household staples despite inflationary pressures. Comparable sales grew 3.5% versus the same period last year, outpacing industry peers. Gross margin expanded 80 basis points to 32.1% on cost efficiencies.
Shares of REYN remained flat in after-hours trading as investors awaited further guidance on input cost trends.