Reynolds American (NYSE: RAI) reported earnings on April 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Reynolds American missed slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly. Non-GAAP earnings per share grew. GAAP earnings per share grew significantly.

Margins expanded across the board.

Revenue details
Reynolds American chalked up revenue of $1.88 billion. The six analysts polled by S&P Capital IQ predicted a top line of $1.91 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.72. The 11 earnings estimates compiled by S&P Capital IQ forecast $0.69 per share. Non-GAAP EPS of $0.72 for Q1 were 14% higher than the prior-year quarter's $0.63 per share. GAAP EPS of $0.92 for Q1 were 96% higher than the prior-year quarter's $0.47 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 63.1%, much better than the prior-year quarter. Operating margin was 47.1%, much better than the prior-year quarter. Net margin was 27.0%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $2.18 billion. On the bottom line, the average EPS estimate is $0.84.

Next year's average estimate for revenue is $8.27 billion. The average EPS estimate is $3.21.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 602 members out of 650 rating the stock outperform, and 48 members rating it underperform. Among 218 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 210 give Reynolds American a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Reynolds American is hold, with an average price target of $45.20.

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