Reynolds Third-quarter Profit Tops Estimates

Reynolds American Inc. said Tuesday its third-quarter profit rose to $467 million, or 88 cents a share, from $457 million, or 84 cents, a year earlier. Sales climbed to $2.24 billion from $2.14 billion. Adjusted profit was 95 cents a share. The tobacco company was expected to earn 91 cents a share on sales of $2.19 billion, according to FactSet. The Winston-Salem, N.C. company also reaffirmed its full-year adjusted per-share profit guidance of $3.35 to $3.45 a share. Analysts surveyed by FactSet were looking for $3.39 a share. Reynolds shares, which rose 18% this year, were flat in premarket trading.

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