Lorillard Reports 3Q Earnings Up 17 Percent
GREENSBORO, N.C. -- Lorillard Inc. reported third-quarter earnings of $274 million, or $1.82 per share, up 17 percent from $235 million, or $1.44 per share, in the same period a year ago, according to a report by The Business Journal.
Revenues for the tobacco company were $1.57 billion for the three months ended Sept. 30, a 10-percent increase from the $1.42 billion reported a year ago.
Shipments of Lorillard's full-price brands, including Newport, Kent, True and Max, were up 2.5 percent, according to the report. Shipments of its value brands, Old Gold and Maverick, increased by 30.3 percent.