Altria beats profit and revenue expectations and lifts outlook, as cigarette shipments increased

1 month ago 14
PR Distribution

Shares of Altria Group Inc. MO, -0.36% gained 0.5% successful premarket trading Thursday, aft the cigarettes and smoke-free products institution bushed nett and gross expectations, and raised its full-year outlook. Net income roseate to $2.15 billion, oregon $1.16 a share, from $1.94 billion, oregon $1.04 a share, successful the year-ago period. Excluding nonrecurring items, adjusted net per stock roseate 12.8% to $1.23, supra the FactSet statement of $1.18. Revenue grew 8.9% to $6.94 billion, beating the FactSet statement of $6.65 billion. Total cigaret shipments roseate 1.4% to 25.31 cardinal sticks, with Marlboro shipments rising 2.5% to 22.34 cardinal sticks. Oral baccy products gross roseate 5.0% to $693 million. Separately, Altria recorded an disbursal of 10 cents a stock from its concern successful cannabis institution Cronos Group Inc. CRON, +7.15%. For 2021, the institution lifted its adjusted EPS guidance scope to $4.56 to $4.62 from $4.49 to $4.62. The banal has precocious 16.2% twelvemonth to day done Wednesday, portion the S&P 500 SPX, -0.02% has tacked connected 17.2%.

Read Entire Article