FDA Moves To Ban Cigarettes And Flavored Cigars
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FDA Moves To Ban Cigarettes And Flavored Cigars
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Altria: Q1 Earnings Snapshot
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RICHMOND, Va. (AP) Altria Group (MO) on Thursday reported first-quarter profit of $1.42 billion.
On a per-share basis, the Richmond, Virginia-based company said it had net income of 77 cents. Earnings, adjusted for non-recurring costs, came to $1.07 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The owner of Philip Morris USA, the nation s largest cigarette maker posted revenue of $6.04 billion in the period. Its adjusted revenue was $4.88 billion, which missed Street forecasts. Four analysts surveyed by Zacks expected $4.99 billion.
Altria expects full-year earnings in the range of $4.49 to $4.62 per share.
Company s 52-week low was at $35.02
Price action over last quarter: Up 15.36%
Company Profile
Altria comprises Philip Morris USA, U.S. Smokeless Tobacco, John Middleton, Ste. Michelle Wine Estates, Nu-Mark, and Philip Morris Capital, although the company plans to wind down Philip Morris Capital by the end of 2022. It holds a 10.2% interest in the world s largest brewer, Anheuser-Busch InBev. Through its tobacco subsidiaries, Altria holds the leading position in cigarettes and smokeless tobacco in the United States and the number-two spot in machine-made cigars. The company s Marlboro brand is the leading cigarette brand in the U.S. with a 43% share in 2020.