Cash flow Reynolds Consumer Products Inc.

Equities

REYN

US76171L1061

Household Products

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09-04	Transcript : Reynolds Consumer Products Inc. Presents at Barclays 17th Annual Global Consumer Staples Conference, Sep-04-2024 01:30 PM
08-29	Jefferies Initiates Reynolds Consumer Products at Buy	MT

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Published financial data: REYNOLDS CONSUMER PRODUCTS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.03B	3.26B	3.56B	3.82B	3.76B
Total Revenues	3.03B	3.26B	3.56B	3.82B	3.76B
Cost of Goods Sold, Total	2.15B	2.29B	2.74B	3.04B	2.81B
Gross Profit	880M	973M	811M	776M	942M
Selling General & Admin Expenses, Total	305M	358M	320M	340M	430M
Other Operating Expenses	65M	29M	13M	22M	-
Other Operating Expenses, Total	370M	387M	333M	362M	430M
Operating Income	510M	586M	478M	414M	512M
Interest Expense, Total	-242M	-69M	-45M	-72M	-117M
Interest And Investment Income	33M	-	-	-	-
Net Interest Expenses	-209M	-69M	-45M	-72M	-117M
Other Non Operating Income (Expenses)	-	-1M	-3M	-4M	-2M
EBT, Excl. Unusual Items	301M	516M	430M	338M	393M
EBT, Incl. Unusual Items	301M	516M	430M	338M	393M
Income Tax Expense	76M	153M	106M	80M	95M
Earnings From Continuing Operations	225M	363M	324M	258M	298M
Net Income to Company	225M	363M	324M	258M	298M
Net Income - (IS)	225M	363M	324M	258M	298M
Net Income to Common Incl Extra Items	225M	363M	324M	258M	298M
Net Income to Common Excl. Extra Items	225M	363M	324M	258M	298M
Per Share Items
Net EPS - Basic	1.45	1.78	1.54	1.23	1.42
Basic EPS - Continuing Operations	1.45	1.78	1.54	1.23	1.42
Basic Weighted Average Shares Outstanding	155M	204M	210M	210M	210M
Net EPS - Diluted	1.45	1.77	1.54	1.23	1.42
Diluted EPS - Continuing Operations	1.45	1.77	1.54	1.23	1.42
Diluted Weighted Average Shares Outstanding	155M	204M	210M	210M	210M
Normalized Basic EPS	1.21	1.58	1.28	1.01	1.17
Normalized Diluted EPS	1.21	1.58	1.28	1.01	1.17
Dividend Per Share	-	0.82	0.92	0.92	0.92
Payout Ratio	-	34.16	59.26	74.42	64.43
Supplemental Items
EBITDA	601M	685M	587M	531M	636M
EBITA	542M	617M	509M	445M	542M
EBIT	510M	586M	478M	414M	512M
EBITDAR	618M	705M	606M	553M	659M
Total Revenues (As Reported)	3.03B	3.26B	3.56B	3.82B	3.76B
Effective Tax Rate - (Ratio)	25.25	29.65	24.65	23.67	24.17
Current Domestic Taxes	76M	84M	83M	78M	99M
Current Foreign Taxes	-	1M	1M	1M	3M
Total Current Taxes	76M	85M	84M	79M	102M
Deferred Domestic Taxes	0	67M	22M	0	-7M
Deferred Foreign Taxes	-	1M	-	1M	-
Total Deferred Taxes	0	68M	22M	1M	-7M
Normalized Net Income	188M	322M	269M	211M	246M
Interest on Long-Term Debt	242M	69M	41M	78M	146M
Supplemental Operating Expense Items
Advertising Expense	57M	72M	43M	59M	79M
Selling and Marketing Expenses	-	-	-	59M	79M
Research And Development Expense From Footnotes	33M	41M	36M	38M	44M
Net Rental Expense, Total	17M	20M	19M	22M	23M
Imputed Operating Lease Interest Expense	6.42M	3.36M	3.06M	5.86M	10.56M
Imputed Operating Lease Depreciation	10.58M	16.64M	15.94M	16.14M	12.44M
Stock-Based Comp., Other (Total)	-	5M	4M	5M	14M
Total Stock-Based Compensation	-	5M	4M	5M	14M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	102M	312M	164M	38M	115M
Total Cash And Short Term Investments	102M	312M	164M	38M	115M
Accounts Receivable, Total	27M	300M	326M	355M	354M
Other Receivables	8M	9M	12M	15M	7M
Total Receivables	35M	309M	338M	370M	361M
Inventory	418M	419M	583M	722M	524M
Other Current Assets, Total	15M	13M	19M	41M	41M
Total Current Assets	570M	1.05B	1.1B	1.17B	1.04B
Gross Property Plant And Equipment	1.22B	1.36B	1.48B	1.62B	1.7B
Accumulated Depreciation	-642M	-692M	-752M	-821M	-897M
Net Property Plant And Equipment	579M	673M	732M	799M	804M
Long-term Investments	-	-	-	-	7M
Goodwill	1.88B	1.88B	1.88B	1.88B	1.9B
Other Intangibles, Total	1.12B	1.09B	1.06B	1.03B	1B
Loans Receivable Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	9M	25M	36M	49M	32M
Total Assets	4.16B	4.72B	4.81B	4.93B	4.78B
Liabilities
Accounts Payable, Total	207M	226M	299M	252M	253M
Accrued Expenses, Total	104M	98M	74M	73M	116M
Current Portion of Long-Term Debt	21M	25M	25M	25M	-
Current Portion of Leases	8M	13M	11M	15M	17M
Current Income Taxes Payable	-	-	-	14M	22M
Other Current Liabilities	38M	70M	75M	117M	70M
Total Current Liabilities	378M	432M	484M	496M	478M
Long-Term Debt	4.2B	2.21B	2.09B	2.07B	1.83B
Long-Term Leases	35M	51M	46M	53M	57M
Pension & Other Post Retirement Benefits	48M	53M	50M	34M	16M
Deferred Tax Liability Non Current	294M	326M	351M	365M	357M
Other Non Current Liabilities	19M	37M	38M	47M	57M
Total Liabilities	4.98B	3.11B	3.06B	3.06B	2.8B
Common Stock, Total	-823M	-	-	-	-
Additional Paid In Capital	-	1.38B	1.38B	1.38B	1.4B
Retained Earnings	-	233M	365M	431M	537M
Comprehensive Income and Other	5M	1M	10M	52M	50M
Total Common Equity	-818M	1.62B	1.76B	1.87B	1.98B
Total Equity	-818M	1.62B	1.76B	1.87B	1.98B
Total Liabilities And Equity	4.16B	4.72B	4.81B	4.93B	4.78B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	210M	210M	210M	210M	210M
ECS Total Common Shares Outstanding	210M	210M	210M	210M	210M
Book Value / Share	-3.9	7.7	8.36	8.9	9.44
Tangible Book Value	-3.82B	-1.36B	-1.18B	-1.04B	-913M
Tangible Book Value Per Share	-18.22	-6.47	-5.64	-4.96	-4.35
Total Debt	4.27B	2.3B	2.17B	2.16B	1.91B
Net Debt	4.17B	1.98B	2B	2.12B	1.79B
Debt Equivalent Oper. Leases	136M	160M	152M	176M	184M
Account Code - Inventory Valuation	5	5	5	4	5
Inventories - Raw Materials, Total	125M	138M	206M	215M	153M
Inventories - Work In Process, Total	47M	54M	63M	81M	60M
Inventories - Finished Goods, Total	217M	194M	276M	383M	260M
Inventories - Others	29M	33M	38M	43M	51M
Land - (BS)	34M	36M	43M	44M	46M
Buildings, Total	131M	145M	183M	203M	220M
Machinery, Total	914M	1B	1.13B	1.2B	1.28B
Full Time Employees	5.1K	5.45K	5.6K	6K	6K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	225M	363M	324M	258M	298M
Depreciation & Amortization - CF	59M	68M	78M	86M	94M
Amortization of Goodwill and Intangible Assets - (CF)	32M	31M	31M	31M	30M
Depreciation & Amortization, Total	91M	99M	109M	117M	124M
Stock-Based Compensation (CF)	-	5M	4M	5M	14M
Other Operating Activities, Total	-7M	67M	22M	1M	-5M
Change In Accounts Receivable	2M	-279M	-24M	-31M	-
Change In Inventories	2M	-	-165M	-139M	198M
Change In Accounts Payable	-6M	54M	71M	-14M	-31M
Change In Income Taxes	72M	7M	-7M	13M	9M
Change in Other Net Operating Assets	24M	3M	-24M	9M	37M
Cash from Operations	403M	319M	310M	219M	644M
Capital Expenditure	-109M	-143M	-141M	-128M	-104M
Cash Acquisitions	-	-	-	-	-6M
Other Investing Activities, Total	-19M	-	-	-	-
Cash from Investing	-128M	-143M	-141M	-128M	-110M
Long-Term Debt Issued, Total	67M	2.71B	-	-	-
Total Debt Issued	67M	2.71B	-	-	-
Long-Term Debt Repaid, Total	-162M	-3.85B	-125M	-25M	-262M
Total Debt Repaid	-162M	-3.85B	-125M	-25M	-262M
Issuance of Common Stock	-	2.58B	-	-	-
Common Dividends Paid	-	-124M	-192M	-192M	-192M
Common & Preferred Stock Dividends Paid	-	-124M	-192M	-192M	-192M
Other Financing Activities, Total	-101M	-1.28B	-	-	-3M
Cash from Financing	-196M	34M	-317M	-217M	-457M
Net Change in Cash	79M	210M	-148M	-126M	77M
Supplemental Items
Cash Interest Paid	109M	83M	41M	68M	114M
Cash Income Tax Paid (Refund)	4M	76M	91M	64M	90M
Levered Free Cash Flow	-590M	56.12M	97.62M	22.75M	493M
Unlevered Free Cash Flow	-439M	99.25M	126M	67.75M	566M
Change In Net Working Capital	740M	228M	145M	185M	-212M
Net Debt Issued / Repaid	-95M	-1.14B	-125M	-25M	-262M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.02	8.25	6.27	5.31	6.59
Return on Total Capital	7.59	9.95	7.62	6.51	8.07
Return On Equity %	-24.39	91.09	19.22	14.24	15.48
Return on Common Equity	-24.39	91.09	19.22	14.24	15.48
Margin Analysis
Gross Profit Margin %	29.02	29.82	22.81	20.33	25.08
SG&A Margin	10.06	10.97	9	8.91	11.45
EBITDA Margin %	19.82	20.99	16.51	13.91	16.93
EBITA Margin %	17.88	18.91	14.31	11.66	14.43
EBIT Margin %	16.82	17.96	13.44	10.85	13.63
Income From Continuing Operations Margin %	7.42	11.12	9.11	6.76	7.93
Net Income Margin %	7.42	11.12	9.11	6.76	7.93
Net Avail. For Common Margin %	7.42	11.12	9.11	6.76	7.93
Normalized Net Income Margin	6.2	9.88	7.56	5.53	6.54
Levered Free Cash Flow Margin	-19.48	1.72	2.75	0.6	13.12
Unlevered Free Cash Flow Margin	-14.49	3.04	3.54	1.77	15.07
Asset Turnover
Asset Turnover	0.57	0.73	0.75	0.78	0.77
Fixed Assets Turnover	5.81	5.21	5.06	4.99	4.69
Receivables Turnover (Average Receivables)	83.07	19.96	11.36	11.21	10.6
Inventory Turnover (Average Inventory)	5.08	5.47	5.48	4.66	4.52
Short Term Liquidity
Current Ratio	1.51	2.44	2.28	2.36	2.18
Quick Ratio	0.36	1.44	1.04	0.82	1
Operating Cash Flow to Current Liabilities	1.07	0.74	0.64	0.44	1.35
Days Sales Outstanding (Average Receivables)	4.39	18.34	32.13	32.56	34.45
Days Outstanding Inventory (Average Inventory)	71.83	66.89	66.62	78.32	80.81
Average Days Payable Outstanding	52.08	34.59	32.94	29.44	38.44
Cash Conversion Cycle (Average Days)	24.14	50.64	65.81	81.44	76.82
Long Term Solvency
Total Debt/Equity	-521.76	142.23	123.52	115.58	96.12
Total Debt / Total Capital	123.71	58.72	55.26	53.61	49.01
LT Debt/Equity	-518.22	139.88	121.47	113.44	95.26
Long-Term Debt / Total Capital	122.87	57.75	54.34	52.62	48.57
Total Liabilities / Total Assets	119.66	65.8	63.51	62.1	58.51
EBIT / Interest Expense	2.11	8.49	10.62	5.75	4.38
EBITDA / Interest Expense	2.55	10.22	13.47	7.68	5.63
(EBITDA - Capex) / Interest Expense	2.1	8.14	10.33	5.9	4.74
Total Debt / EBITDA	6.91	3.26	3.58	3.9	2.89
Net Debt / EBITDA	6.74	2.82	3.31	3.84	2.72
Total Debt / (EBITDA - Capex)	8.39	4.09	4.66	5.08	3.43
Net Debt / (EBITDA - Capex)	8.18	3.53	4.31	4.99	3.23
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.5	7.62	8.98	7.34	-1.6
Gross Profit, 1 Yr. Growth %	5.77	10.57	-16.65	-4.32	21.39
EBITDA, 1 Yr. Growth %	0.17	13.98	-14.31	-9.54	19.77
EBITA, 1 Yr. Growth %	-0.55	13.84	-17.5	-12.57	21.8
EBIT, 1 Yr. Growth %	-0.58	14.9	-18.43	-13.39	23.67
Earnings From Cont. Operations, 1 Yr. Growth %	27.84	61.33	-10.74	-20.37	15.5
Net Income, 1 Yr. Growth %	27.84	61.33	-10.74	-20.37	15.5
Normalized Net Income, 1 Yr. Growth %	29.18	71.43	-16.67	-21.4	16.27
Diluted EPS Before Extra, 1 Yr. Growth %	28.09	22.33	-12.99	-20.15	15.39
Accounts Receivable, 1 Yr. Growth %	-41.3	1.01K	8.67	8.9	-0.28
Inventory, 1 Yr. Growth %	-2.56	0.24	39.14	23.84	-27.42
Net Property, Plant and Equip., 1 Yr. Growth %	24.78	16.23	8.77	9.15	0.63
Total Assets, 1 Yr. Growth %	-35.21	13.51	1.91	2.43	-3.02
Tangible Book Value, 1 Yr. Growth %	-5.93	-64.5	-12.68	-11.99	-12.38
Common Equity, 1 Yr. Growth %	-20.35	-297.43	8.73	6.38	6.16
Cash From Operations, 1 Yr. Growth %