Reynolds Consumer Products(US:REYN)2025-10-29 11:00Financial Performance - Net Revenues for Q3 2025 were $931 million, a 2% increase from $910 million in Q3 2024, with Retail Net Revenues up 1% to $864 million[5]. - Adjusted Net Income for Q3 2025 was $88 million, compared to $86 million in Q3 2024, while Net Income decreased to $79 million from $86 million in the prior year[4]. - Adjusted EBITDA for Q3 2025 was $168 million, down from $171 million in Q3 2024, reflecting lower volumes but improved pricing alignment[4]. - Year-to-date 2025 Adjusted Net Income was $220 million, down from $231 million in the comparable prior year period, impacted by a discrete tax benefit in 2024[11]. - Net income for the nine months ended September 30, 2025, was $184 million, a decrease of 20.3% compared to $231 million for the same period in 2024[28]. - Total revenues for the nine months ended September 30, 2025, reached $2,687 million, up from $2,675 million in 2024, representing a growth of 0.4%[30]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $447 million, down from $465 million in 2024, indicating a decline of 3.9%[40]. - The company projects Q4 2025 net income guidance between $110 million and $118 million, with adjusted EBITDA guidance ranging from $208 million to $218 million[48]. - For the fiscal year 2025, net income guidance is set between $294 million and $302 million, with adjusted net income projected between $337 million and $345 million[53]. Debt and Equity - The Company reported a Net Debt of $1,576 million, with a Net Debt to Trailing Twelve Months Adjusted EBITDA ratio of 2.4x as of September 30, 2025[12]. - As of September 30, 2025, total debt was $1,629 million, with net debt calculated at $1,576 million, resulting in a net debt to trailing twelve months adjusted EBITDA ratio of 2.4x[47]. - The company executed a term loan refinancing, resulting in proceeds of $743 million and repayments of existing term loans of the same amount[28]. - The total stockholders' equity rose to $2,180 million as of September 30, 2025, from $2,142 million as of December 31, 2024, reflecting an increase of 1.8%[26]. - The company reported a decrease in interest expense from $98 million in 2024 to $86 million in 2025[45]. Operational Metrics - Retail volume for Reynolds Cooking & Baking decreased 3%, while Hefty Waste & Storage saw a 5% increase in retail volume driven by distribution gains[6][7]. - Cash provided by operating activities for the nine months ended September 30, 2025, was $240 million, a decrease of 21.8% from $307 million in 2024[28]. - Inventories increased to $639 million as of September 30, 2025, compared to $567 million as of December 31, 2024, marking an increase of 12.7%[26]. - The company incurred $10 million in debt refinancing expenses and $33 million in CEO transition and strategic initiatives costs for the fiscal year 2025[53]. Future Outlook - The Company expects full-year 2025 Net Revenues to be flat to down 1% compared to 2024's $3,695 million, with Adjusted EBITDA projected between $655 million and $665 million[13]. - The Company anticipates Q4 2025 Net Revenues to decline by 1% to 5% compared to Q4 2024's $1,021 million, with Adjusted EBITDA expected between $208 million and $218 million[14]. - The company anticipates continued focus on strategic initiatives and cost savings to enhance future performance[38]. - The diluted shares outstanding for the fiscal year 2025 is projected at 210.3 million, with diluted EPS guidance between $1.40 and $1.44[53]. Dividend Information - The Board of Directors approved a quarterly dividend of $0.23 per common share, expected to be paid on November 28, 2025[17]. Depreciation and Amortization - Depreciation and amortization expenses increased slightly from $129 million in 2024 to $133 million in 2025[45].