Reynolds Consumer Products (REYN) FY2024 results: revenue $3.7 billion, down 1.6% on the year

Reynolds Consumer Products Inc. (REYN) reported revenue of $3.7 billion for fiscal 2024, the year ended 31 December 2024, down 1.6% on the year before. Net income was $352 million, up 18.1%, and diluted earnings per share $1.67. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2025.

Revenue

$3.7 billion

-1.6% on the year

FY2018FY2024

Operating margin

n/a

FY2018FY2024

Net income

$352 million

+18.1% on the year

FY2018FY2024

Diluted EPS

$1.67

+17.6% on the year

FY2018FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	3,695	3,756	3,817	-1.6%
Cost of revenue	2,717	2,814	3,041	-3.4%
Gross profit	978	942	776	+3.8%
Gross margin	26.5%	25.1%	20.3%
Research and development	45.0	44.0	38.0	+2.3%
Selling, general and administrative	429	430	340	-0.2%
Interest expense	98.0	119	76.0	-17.6%
Pre-tax income	451	393	338	+14.8%
Income tax	99.0	95.0	80.0	+4.2%
Effective tax rate	22.0%	24.2%	23.7%
Net income	352	298	258	+18.1%
Net margin	9.5%	7.9%	6.8%
Diluted EPS	$1.67	$1.42	$1.23	+17.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	489	644	219	-24.1%
Capital expenditure	120	104	128	+15.4%
Free cash flow	369	540	91.0	-31.7%
Free cash flow margin	10.0%	14.4%	2.4%
Cash from investing	-120	-110	-128
Cash from financing	-346	-457	-217
Depreciation and amortisation	129	124	117	+4.0%
Share-based compensation	19.0	14.0	5.0	+35.7%
Dividends paid	192	192	192	0.0%
Dividend per share	$0.92	$0.92	$0.92	0.0%
Diluted shares, weighted	210m	210m	210m	+0.2%
Shares outstanding at period end	210m	210m	210m	+0.1%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	2,142	1,983	1,868	+8.0%
Debt	1,686	1,832	2,091	-8.0%
Operating lease liabilities	73.0	42.0	53.0	+73.8%
Finance lease liabilities	14.0	15.0	11.0	-6.7%
Other liabilities	958	908	906	+5.5%
Total liabilities and equity	4,873	4,780	4,929	+1.9%
Fixed assets	758	732	722	+3.6%
Goodwill	1,895	1,895	1,879	0.0%
Intangible assets	972	1,001	1,031	-2.9%
Cash and equivalents	137	115	38.0	+19.1%
Receivables	337	347	348	-2.9%
Inventory	567	524	722	+8.2%
Other assets	207	166	189	+24.7%
Total assets	4,873	4,780	4,929	+1.9%

10-K for the year ended 31 December 2024, filed 5 February 2025: the filing.