Altria: Q3 EPS up 5%

(CercleFinance.com) - Tobacco giant Altria - which in particular owns Marlboro cigarettes - has announced a 4.
9% increase in adjusted EPS for Q3 2022, to 1.28 dollar, on net revenues that are down 3.5% to 6.55 billion dollars (-2.2% excluding excise duties).

The group said that the decline was primarily due to the divestment of its St. Michelle winery in October 2021 and lower net revenues in smokables, although this was partially offset by higher net revenues in oral tobacco products.

Altria has tightened its FY 2022 guidance, now expecting to generate adjusted EPS of $4.81 to $4.89, up 4.5% to 6% relative to 2021.

Although seemingly good on the surface, after closing pretty flat yesterday, Altria shares are down 3% before the opening bell today.


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