Reynolds Consumer Products: 4Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ Reynolds Consumer Products Inc. (REYN) on Tuesday reported fourth-quarter earnings of $112 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had profit of 53 cents. Earnings, adjusted for non-recurring costs, came to 57 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The company posted revenue of $888 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $877.4 million.
For the year, the company reported profit of $363 million, or $1.77 per share. Revenue was reported as $3.26 billion.
For the current quarter ending in April, Reynolds Consumer Products expects its per-share earnings to range from 35 cents to 37 cents.
The company expects full-year earnings in the range of $1.96 to $2.03 per share.
Reynolds Consumer Products shares have increased 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $30.39, a drop of 3.5% in the last 12 months.