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Reynolds Consumer Products Inc. (REYN+1.62%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing total net revenues of $3,695 million, a decrease of 2% compared to the previous year. This decline was attributed to lower volume and pricing.
Cost of sales decreased by 3% to $2,717 million, primarily due to lower material and manufacturing costs.
Selling, general, and administrative expenses remained relatively flat at $429 million.
Net income for the year was $352 million, an increase from $298 million in the previous year, partly due to a decrease in interest expenses.
Adjusted EBITDA was reported at $678 million, up 7% from the prior year, driven by lower material and manufacturing costs.
The Reynolds Cooking & Baking segment reported net revenues of $1,247 million, a 2% decrease due to lower non-retail volume.
Hefty Waste & Storage segment's net revenues increased by 2% to $959 million, supported by higher volume and promotional activities.
Hefty Tableware segment saw a 5% decline in net revenues to $918 million, impacted by lower foam volume and pricing.
Presto Products segment's net revenues increased by 1% to $596 million, with a focus on product portfolio optimization.
The company made voluntary principal payments of $150 million on its Term Loan Facility during the year.
Reynolds Consumer Products Inc. continues to focus on its mix of branded and store brand products to maintain its market-leading position in the consumer products sector.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Reynolds Consumer Products Inc. annual 10-K report dated February 5, 2025. To report an error, please email earnings@qz.com.