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Reynolds Reynolds Consumer Products Reports Third Quarter 2021 Financial Results Strong Demand Continues Pricing to Offset Additional Cost Increases Accelerating Reyvolution Cost Savings LAKE FOREST , IL , November 4 , 2021 – ( BUSINESSWIRE ) - Reynolds Consumer Products Inc. ( " Reynolds , " " RCP " or the " Company " ) ( Nasdaq : REYN ) today reported results for the third quarter 2021 ended September 30 , 2021 . Third Quarter 2021 Highlights Consumer Products Net Revenues of $ 905 million , up 10 % over Q3 prior year net revenues Net Income of $ 66 million ; Adjusted Net Income of $ 70 million Adjusted EBITDA of $ 132 million Earnings Per Share of $ 0.31 ; Adjusted Earnings Per Share of $ 0.33 Net revenues increased 10 % on top of record third quarter net revenues in 2020 , reflecting pricing to offset increased material costs , strong underlying demand across our business , and approximately two percentage points from a one time sale of excess raw materials . Net income was $ 66 million , down 42 % versus last year's net income , and Adjusted EBITDA was $ 132 million , down 31 % versus last year's Adjusted EBITDA as price increases lagged increases in material , labor and logistics costs , partially offset by lower SG & A . Segment Results Reynolds Cooking & Baking ● " We implemented pricing as planned and delivered another solid quarter in spite of increased staffing and logistics challenges and correspondingly higher labor and logistics costs , " said Lance Mitchell , President and Chief Executive Officer . " The capacity additions we undertook last year are strengthening our business , and we are taking a wide range of actions in order to return to pre - pandemic levels of profitability . Our third round of pricing actions was implemented as planned , and a fourth round of pricing goes into effect in early 2022. We are aggressively managing all controllable costs and accelerating investment in automation and other Reyvolution programs to improve our long - term cost structure . These and all of our recovery actions reflect our experience generating dependable volume , earnings and cash flow and our confidence in a pronounced recovery in profitability when inflation moderates . " Net revenues increased $ 43 million , or 15 % Adjusted EBITDA decreased $ 7 million , or -11 %