Retail

Altria tops earnings expectations on strong Q3 profit

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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. 

 

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