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Friday, March 29, 2024

UPDATE: Reynolds American Q1 Profit Drops 22%

Courtesy of Benzinga.

Reynolds American Inc (NYSE: RAI) reported a 22% drop in its first-quarter profit.

Reynolds American’s quarterly profit declined to $486 million, or $0.47 per share, versus $623 million, or $0.65 per share, in the year-earlier period. Its adjusted profit dropped to $0.63 per share from $0.64 per share.

Reynolds American’s revenue fell 2.9% to $1.93 billion. Analysts were expecting earnings of $0.65 per share on revenue of $1.98 billion.

For 2012, Reynolds American continues to projects adjusted profit of $2.91 to $3.01 per share.

RAI shares closed at $41.72 yesterday.


For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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