Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Reynolds American Q1 Profit Down; Reaffirms 2012 Adj. EPS View - Quick Facts

RELATED NEWS
Trade RAI now with 
4/24/2012 7:23 AM ET

Reynolds American Inc. (RAI: Quote) said its first quarter profit fell to $270 million or $0.47 per share from $381 million or $0.65 per share a year ago. The company said prior-year amounts have been adjusted to reflect the change in method of recognizing actuarial gains and losses for pension and postretirement benefits.

Adjusted earnings per share dropped to $0.63 from $0.64 in the same quarter a year ago, as higher pricing and productivity improvements were offset by cigarette volume declines. Adjusted results exclude a charge of $0.16 per share for a restructuring charge related to the completion of the comprehensive business analysis.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share. Analysts' estimates typically exclude special items.

Net sales declined to $1.93 billion from the previous year's $1.99 billion. Analysts estimated revenues of $1.98 billion.

"RAI and its operating companies demonstrated underlying strength and resilience in a challenging first quarter, and we remain on track to deliver full-year adjusted EPS growth in the mid- to high-single digits," said Daniel Delen, president and chief executive officer.

RAI reaffirmed adjusted earnings per share guidance for 2012 in the range of $2.91 to $3.01, up 3.6 percent to 7.1 percent. This guidance excludes the restructuring charge. Analysts expect the company to earn $2.97 per share.

Register
To receive FREE breaking news email alerts for Reynolds American Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Russian Foreign Minister Sergei Lavrov warned Wednesday that Moscow would retaliate strongly if its "interests" in Ukraine are attacked. He also criticized the Ukrainian administration for relaunching its so-called anti-terrorist operation in the east of the country a day earlier. Lavrov's remarks came in an interview with Russia Today, which published excerpts of the English-language interview to While selling pressure has remained relatively subdued, stocks continue to see modest weakness in mid-day trading on Wednesday. The losses on the day come on the heels of the upward trend seen over the past several sessions. The major averages have moved roughly sideways in recent trading, lingering in the red. While a majority of Kentucky voters approve of the way Rand Paul is handling his job as Senator, the results of New York Times/Kaiser Family Foundation poll showed that voters from the Bluegrass State have a more mixed view on Paul's potential run for president in 2016.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.