Reynolds American Q1 Profit Tops Estimates; Reaffirms 2015 Adj. EPS Guidance

(RTTNews) - Reynolds American Inc. (RAI) reported first-quarter net income of $389 million or $0.73 per share, compared to $363 million or $0.67 per share, prior year. Adjusted earnings per share was $0.86, for the quarter. The company said its first-quarter adjusted EPS increased 19.4 percent from the prior-year quarter, benefitting from higher pricing and the completion of the federal tobacco-quota buyout. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.80 for the quarter. Analysts' estimates typically exclude special items. Net sales increased to $2.06 billion from $1.94 billion last year. Analysts expected revenue of $1.98 billion for the quarter.

RAI reaffirmed 2015 adjusted EPS guidance in the range of $3.65 to $3.80. Analysts expect the company to report 2015 earnings per share of $3.79.