Lorillard Misses EPS Estimates by $0.08, Grows Revenue 26% (LO)

10/26/2009 - Lorillard (NYSE:LO) reported Q3 EPS of $1.44, missing consensus analyst estimates of $1.52. Revenues for the quarter rose 26% year-over-year to $1.42 billion, coming out ahead of consensus analyst estimates of $1.32 billion. Chairman, president and CEO Martin Orlowsky said, "Lorillard's overall performance during the third quarter of 2009 was positive in terms of its domestic wholesale shipments out-performing the industry compared to the third quarter of 2008. Additionally, Newport's domestic retail market share continued to grow despite a challenging marketplace . . . Both our financial and marketplace results were relatively strong recognizing difficult comparative factors affecting the third quarter of 2009 versus the third quarter of 2008. These factors included a reduction in wholesale inventory levels during the third quarter of 2009, greater levels of Newport promotional product in the market in the third quarter of 2008 and the general on-going effects of the federal excise tax increase that occurred as of April 1, 2009."

Write to Chip Brian at cbrian@tradethetrend.com

---------------------------------------------------------------------------------------------

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html

Related terms: ceo, eps, market, market share, nyse, president, retail, revenue, securities, tax, wholesale