Reynolds American Beats EPS Estimates by $0.06, Raises FY Outlook (RAI)
Thu. October 22, 2009; Posted: 10:34 AM
Oct 22, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/22/2009 - Reynolds American (NYSE:RAI) reported Q3 EPS of $1.24, ex-items, beating consensus analyst estimates of $1.18. Revenues for the quarter fell 5.3% year-over-year to $2.15 billion, falling shy of consensus estimates of $2.19 billion. Chairman, president and CEO Susan Ivey said, "This year has been marked by unprecedented increases in excise taxes on tobacco products, an extremely weak economy and intense competitive activity . . . But the strength of our strategies and our operating companies' brands has allowed us to continue to perform well even in these difficult times." The company raised full-year earnings outlook, now expecting between $4.60 $4.70 per share. Consensus estimates forecast 2009 EPS of $4.59.
Write to Chip Brian at cbrian@tradethetrend.com
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