Altria: 1Q Earnings Snapshot
Posted April 25, 2019 4:22 am.
This article is more than 5 years old.
RICHMOND, Va. (AP) _ Altria Group (MO) on Thursday reported first-quarter profit of $1.12 billion.
On a per-share basis, the Richmond, Virginia-based company said it had net income of 60 cents. Earnings, adjusted for non-recurring costs and asset impairment costs, were 90 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The owner of Philip Morris USA, the nation’s largest cigarette maker posted revenue of $5.63 billion in the period. Its adjusted revenue was $4.39 billion, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $4.54 billion.
Altria expects full-year earnings in the range of $4.15 to $4.27 per share.
Altria shares have increased 11 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 17 per cent. The stock has fallen 1 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 MO at https://www.zacks.com/ap/MO
The Associated Press
