REYN Filings — Reynolds Consumer Products Inc. - FilingSpy
REYN
Reynolds Consumer Products Inc.
A maker of household staples, Reynolds Consumer Products produces the aluminum foil, trash bags, disposable tableware, and food storage bags under brands like Reynolds Wrap, Hefty, and Presto. The company dates to 1919, when Richard S. Reynolds Sr.—nephew of tobacco tycoon R.J. Reynolds—founded the U.S. Foil Company to wrap cigarettes and candy in tin and lead foil. Legend has it a sales rep first used the foil to wrap a Thanksgiving turkey, turning an industrial material into a kitchen staple.
Hefty Tableware revenue fell 10% in Q2 2026, extending a multi-year decline, while lower operational costs lifted net income 22%.
Hefty Tableware's decline continued, falling 10% in the quarter. Total revenue rose 1% to $944 million and increased 22% to $89 million, driven by a $13 million reduction in cost of sales from lower operational costs. The core foam-volume problem persists, but cost discipline is providing an offset.
Key takeaways
rose 22% to $89 million, as a $13 million reduction in cost of sales from lower operational costs and volume more than offset the headwinds.
Hefty Tableware fell 10% on lower foam product volume, extending a decline that has now persisted for multiple quarters and was the primary drag on the top line.
Total increased 1% to $944 million, as higher pricing to pass through input costs and promotional timing was partly negated by lower volume.
Section summaries
Management's Discussion and Analysis
Q2 2026 net income rose 22% to $89M on lower operational costs, while revenue grew 1% to $944M driven by pricing actions.
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Total net revenues increased 1% to $944M in Q2, as higher pricing to offset input costs and promotional timing was partly negated by lower volume.
jumped 22% to $89M, primarily due to a $13M reduction in from lower operational costs and volume.
Reynolds Cooking & Kitchen Essentials grew 6% on higher pricing, providing a partial offset to the Tableware weakness.
rose 5% to $171 million, with in Hefty Home & Tableware offsetting declines in Hefty Waste & Clean-Up and Storage & Organization.
The company made a $50 million voluntary term loan principal payment, reducing to $1,530 million, while for the first six months improved to $173 million.
What changed
Hefty Tableware's decline of 10% in Q2 2026 matched the Q3 2025 rate, suggesting the has settled at a new, lower run-rate rather than the volatile swings between 4% and 14% seen in the first half of 2025.
of 23.6% in Q2 2026 was 0.5 points above the prior-year quarter's 24.1% but 2.1 points below Q1 2026's 23.6%, indicating the cost from lower operational costs is materializing but not yet restoring margins to the 26.5% FY2024 level.
The $11 million in strategic initiative and CEO transition costs that weighed on Q3 2025 results did not recur in Q2 2026, confirming those were one-time items and revealing a cleaner underlying run-rate.
The February 2026 realignment is now reflected in reporting, with the former Hefty Waste & Storage and Presto Products segments reorganized into new categories, though the filing does not provide restated historical comparisons for the new structure.
What to watch
Whether Hefty Tableware's 10% decline rate holds in Q3 2026 or worsens, and whether the 's can stabilize after two consecutive years of decline.
Whether can build on the Q2 2026 level of 23.6% as lower operational costs continue to flow through, or if this represents a new plateau below the 26.5% FY2024 peak.
Whether the $50 million quarterly voluntary debt paydown pace is sustained given the declining cash balance of $71 million and the $0.23 quarterly commitment.
Whether Reynolds Cooking & Kitchen Essentials can sustain its 6% growth, confirming that pricing power in that is durable and can offset Tableware weakness.
Reynolds Cooking & Kitchen Essentials grew 6% on higher pricing, while Hefty Home & Tableware fell 10% on lower foam volume.
rose 5% to $171M, with in Hefty Home & Tableware offsetting declines in Hefty Waste & Clean-Up and Storage & Organization.
improved to $173M for the six months, and the company made $50M in voluntary term loan principal payments.
Quantitative and Qualitative Disclosures About Market Risk
See “Item 7A: Quantitative and Qualitative Disclosures About Market Risk” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. During the six months ended June 30, 2026, there have been no material changes in our exposure to market risk.
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See “Item 7A: Quantitative and Qualitative Disclosures About Market Risk” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. During the six months ended June 30, 2026, there have been no material changes in our exposure to market risk.
The information required to be set forth under this heading is incorporated by reference from Note 7 - Commitments and Contingencies, to the condensed consolidated financial statements included in Part I, Item 1.
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The information required to be set forth under this heading is incorporated by reference from Note 7 - Commitments and Contingencies, to the condensed consolidated financial statements included in Part I, Item 1.