- Earnings highlights
Net income: $292 million compared with $139 million a year ago.
Diluted earnings: 54 cents compared with 29 cents a year ago. The company took one-time charges worth 23 cents that include trademark impairments, early retirement of debt and costs related to the Engle progeny lawsuits.
Average earnings forecast: 81 cents by seven analysts surveyed by Zacks Investment Research. Analysts typically do not include one-time gains and charges in their forecasts.
Noteworthy: Reynolds announced a 4 cent increase in its quarterly cash dividend to 67 cents. The dividend is payable April 1 to shareholders registered as of March 10.
Share price: Fell 74 cents to close at $48.07.
Source: Reynolds American Inc.
Posted: Tuesday, February 11, 2014 7:30 pm
More market-share gains among Reynolds American Inc.’s four primary brands contributed to a more than doubling of fourth-quarter net income to $292 million.
Perhaps more pivotal for its future, Reynolds reported Tuesday its electronic-cigarette brand, Vuse, gained more traction with smokers in test markets in Colorado and Utah as the company prepares for a national launch later this year.
Tuesday, February 11, 2014 7:30 pm.