Reynolds American’s Earnings Top Analysts’ Estimates
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Reynolds American Inc., which agreed this month to buy U.S. rival Lorillard Inc., posted second-quarter profit that beat analysts’ estimates amid higher prices and lower expenses.
Net income rose 6.7 percent to $492 million, or 92 cents a share, from $461 million, or 84 cents, a year earlier, the Winston-Salem, North Carolina-based maker of Camel cigarettes said today in a statement. Excluding some items, profit was 89 cents a share. Analysts had estimated 87 cents on average, according to data compiled by Bloomberg.