Market Share Gains
Reynolds Consumer Products achieved strong retail performance, gaining market share in the majority of its categories, including Hefty Waste Bags, Hefty Party Cups, Reynolds Wrap, Reynolds Kitchen Parchment products, and store brand food bags.
Revenue and Earnings Performance
Third quarter net revenues were $931 million, an increase of more than 2% from $910 million in the prior year, and earnings were at the upper end of the guidance.
Innovation and Product Development
Reynolds Wrap Fun Foil and Reynolds Kitchens Air Fryer Liners saw strong performance and distribution gains, while Hefty ECOSAVE compostable cutlery and Hefty Fabuloso Watermelon waste bags achieved significant market traction.
Cost Management Initiatives
The company made progress in managing manufacturing and supply chain costs, implementing technology, lean principles, and automation to drive efficiencies.