Lorillard (LO) Tops Q1 EPS by 5c
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Lorillard, Inc. Reports First Quarter Results
April 17, 2015 12:15 PM EDTGREENSBORO, N.C., April 17, 2015 /PRNewswire/ -- Lorillard, Inc. (NYSE: LO) announced today its results for the quarter ended March 31, 2015.
First Quarter Highlights
First quarter net sales increased 4.8% to $1.668 billion behind a 3.1% increase in wholesale cigarette unit volume. First quarter 2015 reported (GAAP) diluted earnings per share increased 2.7% over first quarter 2014 to $0.76. First quarter 2015 adjusted (Non-GAAP) diluted earnings per share increased 18.8% over first quarter 2014 to $0.82. First quarter 2015 Cigarettes adjusted operating income (Non-GAAP) increased 18.6% over first quarter 2014 and adjusted operating margin increased 3.4 percentage points.... More