Reynolds American beats 4Q profit forecasts

Published February 09, 2017
Associated Press

Reynolds American Inc. (RAI) on Thursday reported fourth-quarter profit of $851 million.

The Winston Salem, North Carolina-based company said it had net income of 60 cents per share. Earnings, adjusted for non-recurring costs, came to 62 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted revenue of $3.19 billion in the period.

Reynolds American shares have climbed 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2.5 percent. The stock has risen 29 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RAI at https://www.zacks.com/ap/RAI

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