Reynolds American (RAI) Tops Q1 EPS by 6c
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Reynolds American (NYSE: RAI) reported Q1 EPS of $0.86, $0.06 better than the analyst estimate of $0.80. Revenue for the quarter came in at $2.06 billion versus the consensus estimate of $1.98 billion.
I'm very pleased to report that Reynolds American delivered strong first-quarter results as our operating companies turned in excellent financial performance in addition to driving momentum in their key-brands' marketplace performance,
said Susan M. Cameron, president and chief executive officer of RAI. All of our operating companies increased both earnings and operating margins, while remaining focused on strategic initiatives to grow their diverse and highly differentiated key brands.
Other developments included:
- The completion of the national expansion of R.J. Reynolds Vapor Company's VUSE Digital Vapor Cigarette, which remains the top-selling vapor product in convenience / gas stores; Continued progress in the national expansion of Niconovum USA's ZONNIC nicotinereplacement therapy gum;
- The successful expansion of R.J. Reynolds Tobacco Company's REVO heat-not-burn cigarettes in Wisconsin; and
- Approval by RAI and Lorillard shareholders of RAI's proposed acquisition of Lorillard and divestiture of select brands and assets to a subsidiary of Imperial. The company remains confident that these transactions will close by mid-2015.
RAI reaffirmed FY15 expectations.
For earnings history and earnings-related data on Reynolds American (RAI) click here.
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