» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 38 | NO. 42 | Friday, October 17, 2014

Reynolds' net rises on higher cigarette prices

Print | Front Page | Email this story

WINSTON-SALEM, N.C. (AP) — Higher cigarette prices helped Camel cigarette maker Reynolds American Inc.'s net income rise 2.2 percent in its third quarter.

The higher prices helped offset continued decline in cigarettes sold.

The company's net income rose to $467 million, or 88 cents per share, for the quarter which ended Sept. 30, up from $457 million, or 84 cents per share, in the same quarter last year.

Reynolds' adjusted earnings of 95 cents per share beat expectations for 91 cents per share, according to Zacks.

Total revenue rose 4.9 percent to $2.24 billion from $2.14 billion. Analysts expected $2.18 billion, according to Zacks.

The company reiterated that it expects full-year earnings between $3.35 and $3.45 per share.

Reynolds, which is buying fellow cigarette maker Lorillard Inc., says it still expects that deal to close by the middle of next year. It is currently undergoing antitrust review.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0