WINSTON SALEM, N.C. (AP) _ Reynolds American Inc. (RAI) on Wednesday reported third-quarter net income of $861 million.
On a per-share basis, the Winston Salem, North Carolina-based company said it had profit of 60 cents. Earnings, adjusted for non-recurring costs, were 61 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted revenue of $3.21 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $3.36 billion.
Reynolds American expects full-year earnings in the range of $2.27 to $2.33 per share.
Reynolds American shares have climbed slightly more than 2 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 5 per cent. The stock has decreased slightly 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