Reynolds American Rises After Upping Annual Profit Forecast
Reynolds Looks to Fire Up the Newport Brand
This article is for subscribers only.
Reynolds American Inc. rose the most in almost seven years after boosting its earnings forecast for the year and posting second-quarter profit that topped analysts’ estimates, helped by its newly acquired Newport brand.
Earnings this year will be $1.90 to $2 a share, excluding some items, the Winston-Salem, North Carolina-based company said Tuesday in a statement. That’s up from a previous forecast of $1.83 to $1.90. Profit in the most recent quarter was $1.02 a share, excluding some items. Analysts estimated 96 cents.