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Reynolds American posts 2Q profit of $1.93 billion, result tops expectations
– canadianbusiness.com
WINSTON SALEM, N.C. – Reynolds American reported a surge in second-quarter profit with cigarette prices and volume rising.
The nation’s second-biggest tobacco company topped Wall Street profit expectations, boosted its profit guidance and dividend and announced a 2-for-1 stock split.
Net income more than tripled to $1.93 billion, or $3.38 per share.
Earnings, adjusted for non-recurring gains, came to $1.02 per share, which was still 8 cents better than analysts had expected, according to a poll by Zacks Investment Research .
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted an 11.1 per cent boost in revenue to $2.4 billion in the period. It recently closed on a $25 billion takeover of Newport seller Lorillard Inc..
Cigarette volumes rose 5.6 per cent and the quarter included a hefty gain on a divestment that was part of the Lorillard deal.
The company now expects full-year earnings in the range of $1.90 to $2 per share, up from prior guidance of $1.83 to $1…
The nation’s second-biggest tobacco company topped Wall Street profit expectations, boosted its profit guidance and dividend and announced a 2-for-1 stock split.
Net income more than tripled to $1.93 billion, or $3.38 per share.
Earnings, adjusted for non-recurring gains, came to $1.02 per share, which was still 8 cents better than analysts had expected, according to a poll by Zacks Investment Research .
The parent of Camel and Pall Mall cigarette maker R.J. Reynolds posted an 11.1 per cent boost in revenue to $2.4 billion in the period. It recently closed on a $25 billion takeover of Newport seller Lorillard Inc..
Cigarette volumes rose 5.6 per cent and the quarter included a hefty gain on a divestment that was part of the Lorillard deal.
The company now expects full-year earnings in the range of $1.90 to $2 per share, up from prior guidance of $1.83 to $1…
WestJet profit climbs 19 per cent as fuel costs fall
– theglobeandmail.com
Posts second-quarter earnings of $61.6-million compared with $51.8-million a year ago
Ford tops 2Q net income expectations, misses revenue forecasts
– canadianbusiness.com
DEARBORN, Mich. (AP) _ Ford Motor Co. (F) on Tuesday reported second-quarter earnings of $1.89 billion.
On a per-share basis, the Dearborn, Michigan-based company said it had profit of 47 cents.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The automaker posted revenue of $35.1 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $35.93 billion.
Ford shares have decreased 6 per cent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has decreased 17 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on F at http://www.zacks.com/ap/F
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Keywords: Ford, Earnings Report, Priority Earnings
The post Ford tops 2Q net income expectations, misses revenue forecasts appeared first on Canadian Business – Your Source For Business News.
On a per-share basis, the Dearborn, Michigan-based company said it had profit of 47 cents.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The automaker posted revenue of $35.1 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $35.93 billion.
Ford shares have decreased 6 per cent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has decreased 17 per cent 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 F at http://www.zacks.com/ap/F
_____
Keywords: Ford, Earnings Report, Priority Earnings
The post Ford tops 2Q net income expectations, misses revenue forecasts appeared first on Canadian Business – Your Source For Business News.
Toronto stock market moves lower, loonie up more than a quarter cent
– canadianbusiness.com
TORONTO – The Toronto Stock Exchange ticked lower in early trading as markets in China and Europe, which had dragged stocks lower on Monday, stabilized.
The S&P/TSX composite index lost 6.14 points at 13,995.23.
In the U.S., the Dow Jones industrial average gained 39.18 points at 17,479.77, while the Nasdaq added 9.18 points at 5,048.96 and the S&P 500 climbed 7.64 points to 2,075.28.
Meanwhile, the loonie was up 0.28 of a cent at 76.94 cents US.
The September contract for crude oil fell five cents to $47.34, while the September natural gas contract gained 2.1 cents to US$2.809.
The September gold contract was unchanged at US$1,096.60.
The post Toronto stock market moves lower, loonie up more than a quarter cent appeared first on Canadian Business – Your Source For Business News.
The S&P/TSX composite index lost 6.14 points at 13,995.23.
In the U.S., the Dow Jones industrial average gained 39.18 points at 17,479.77, while the Nasdaq added 9.18 points at 5,048.96 and the S&P 500 climbed 7.64 points to 2,075.28.
Meanwhile, the loonie was up 0.28 of a cent at 76.94 cents US.
The September contract for crude oil fell five cents to $47.34, while the September natural gas contract gained 2.1 cents to US$2.809.
The September gold contract was unchanged at US$1,096.60.
The post Toronto stock market moves lower, loonie up more than a quarter cent appeared first on Canadian Business – Your Source For Business News.
Ford widely beats expectations on North America profit
– theglobeandmail.com
Auto maker posts second-quarter earnings of $1.89 billion, maintains its full-year forecast
