Reynolds American 4Q profit jumps, but misses forecasts
Cigarette maker Reynolds American's fourth-quarter profit shot up 89 percent compared to the final quarter of 2014, when earnings fell due to pension charges and other costs.
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds earned $279 million in the three months that ended Dec. 31.
That's up from $148 million in the previous year's quarter.
Results adjusted for one-time items totaled 48 cents per share in the most recent quarter, and revenue jumped 43 percent to $3.05 billion
FactSet says analysts expected, on average, earnings of 50 cents per share on $3.05 billion in revenue from the Winston Salem, North Carolina-based company.
Reynolds American Inc. expects 2016 adjusted earnings to range between $2.25 and $2.35 per share. Analysts are looking for $2.33 per share.
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