At first, it seemed that the post-IPO performance of home goods company Reynolds ($PRIVATE:REYNOLDSGROUPHOLDINGS) could not be foiled - then, even with a global pandemic, the packaging conglomerate saw shares outperform the market, rising 17% in 2020.
Slashing guidance? Not for Reynolds.
Earnings Thursday, May 7 provided some more good news, with a beat on expectations, although the company's shares didn't rise in early trading hours.
While plenty of companies are furloughing staff and laying off workers for good, there is little indication that Reynolds has undertaken similar measures - although its job postings clearly took a pause.
Job postings are down nearly 50% from 2020 peaks - although, there has been a slight rebound as of late, signaling a return to production.
Reynolds big deal to acquire Pactiv, maker of disposable food packaging products, at least earned it a company that continues to grow. Its LinkedIn Employee Headcount reflects growth of nearly 4% so far in 2020.
With the entire world stuck indoors and trying to cook their way comfortably through a crisis, it's inevitable that household staples like Reynolds' wrap are being used in greater quantities by aspiring chefs. Less than a year into its public market debut, the company's future has been recharted by a New Zealand billionaire who bought and sold assets from the company to turn it into an attractive asset for investors - who may have missed the pitch because their eyes were on flashier IPOs, like WeWork's planned market debut.
But, now, more than ever, an ordinary household products company is making its case with investors in a way that most e-commerce leaders could not dream they could accomplish in a global pandemic.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
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