Altria (MO) Q2 Earnings In Line, Smokeable Unit Aids Sales
Zacks Investment Research | Jul 29, 2019 09:50PM ET
Altria Group Inc. (NYSE:MO) has released second-quarter 2019 results, wherein earnings were in line with the Zacks Consensus Estimate and improved year on year. Moreover, the top line beat estimates after two consecutive misses, thanks to higher revenues in the Smokeable Products business. Revenues also improved year over year.
The company’s stock did not react much to the company’s robust results. However, shares of Altria fell 5.8% in the past three months compared with the industry ’s decline of 2.3%.
Quarter in Detail
The company’s adjusted earnings of $1.10 per share were in line with the Zacks Consensus Estimate. Moreover, adjusted earnings improved 8.9% year over year, owing to increased adjusted operating companies income (“OCI”) in the smokeable and smokeless products segments, higher adjusted earnings from Altria’s equity investment in AB InBev (NYSE:BUD) , and lower spending as a result of the company’s decision in 2018 to refocus on its innovative products efforts. This was partly offset by higher interest expenses.
Altria Group, Inc. Price, Consensus and EPS Surprise
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