Marlboro Parent Altria Reports Q1 Earnings Posted on 1951
Altria (NYSE: MO) reported its first quarter earnings on Thursday, falling short of revenue estimates. Furthermore, cigarette shipments find themselves on a continuous decline. The stock plummeted 1.1% during later morning trading amid the news.
Nevertheless, the quarter experienced an earnings surprise of 2.88% and has surpassed consensus EPS estimates three times throughout the last four quarters.
Altria reported earnings of USD1.07 per share, compared to the expected USD1.05. Revenue amounted to USD4.88 Billion, lower than analysts anticipated USD4.98 Billion. Additionally, net income fell to USD1.42 Billion or USD0.77 per share from the previous year’s USD1.55 Billion or USD0.83 a share.
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The company s stock was down 1.1% lower in late morning trading.
Here s what the company reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Earnings per share: $1.07 adjusted vs. $1.05 expected
Revenue: $4.88 billion, excluding excise taxes, vs. $4.98 billion expected
Net income decreased to $1.42 billion, or 77 cents per share, from $1.55 billion, or 83 cents per share, a year earlier.
Excluding items, Altria earned $1.07 per share, topping the $1.05 per share expected by analysts surveyed by Refinitiv.
Revenue fell 5.1% to $6.04 billion from $6.36 billion a year earlier. However, after excluding excise taxes, its revenue was $4.88 billion, which was shy of the $4.98 billion, analysts expected.
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