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Reynolds American (NYSE:RAI) is expected to report Q2 earnings before market open Wednesday, July 30, with a conference call scheduled for 9:30 a.m. ET.

Guidance

Analysts are looking for a profit of $1.18 on revenue of $2.31B. The consensus is $1.10 to $1.24 for EPS, and revenue of $2.27B to $2.37B, according to First Call. Reynolds gave FY08 guidance when it reported its Q4 results in February, forecasting mid-single-digit EPS growth in FY08 and over the next several years.

Analyst Views

Lehman Brothers, which has a Neutral rating on Reynolds, said it sees "slight" revenue growth and a -5.3% volume decline for the quarter. Earlier in July, Morgan Stanley upgraded Reynolds to Equal Weight from Underweight based on valuation.

Source: Earnings Preview: Reynolds American