WINSTON SALEM, N.C. (AP) — Reynolds American Inc. (RAI) on Tuesday reported first-quarter profit of $3.57 billion.
The Winston Salem, North Carolina-based company said it had net income of $2.49 per share. Earnings, adjusted for non-recurring gains, were 50 cents per share.
The results matched Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 50 cents per share.
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted revenue of $2.92 billion in the period.
Reynolds American expects full-year earnings in the range of $2.25 to $2.35 per share.
Reynolds American shares have climbed nearly 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2 percent. The stock has risen 26 percent in the last 12 months.
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 http://www.zacks.com/ap/RAI
Keywords: Reynolds American, Earnings Report, Priority Earnings