WINSTON-SALEM, N.C. – Reynolds American Inc. (RAI) on Tuesday reported fourth-quarter net income of $148 million.
The Winston-Salem, North Carolina-based company said it had profit of 28 cents per share. Earnings, adjusted for non-recurring costs, were 87 cents per share.
The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 87 cents per share.
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted revenue of $2.13 billion in the period, also meeting Street forecasts.
Reynolds American expects full-year earnings in the range of $3.65 to $3.80 per share.
Reynolds American shares have increased 6.5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has declined almost 1 per cent. The stock has climbed 40 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RAI at http://www.zacks.com/ap/RAI
Keywords: Reynolds American, Earnings Report, Priority Earnings