Altria Group (NYSE:MO) reported strong third-quarter earnings on Thursday, exceeding Wall Street estimates with a net income of $2.29 billion, or $1.34 per share.
Excluding non-recurring costs, earnings reached $1.38 per share, outperforming analysts’ consensus forecast of $1.36, according to Zacks Investment Research.
Revenue for the nation’s largest cigarette producer came in at $6.26 billion, with adjusted revenue totaling $5.34 billion.
Looking ahead, Altria, which owns Philip Morris USA, reaffirmed its full-year earnings guidance in the range of $5.07 to $5.15 per share.
Following the earnings release on Thursday, Altria's share price rose over 1% to $50.50 in early trading.