Altria Group (MO) Misses Q3 EPS by 4c; Revenues Beat; Expands Buyback

Altria Group (NYSE: MO) reported Q3 EPS of $1.22, $0.04 worse than the analyst estimate of $1.26. Revenue for the quarter came in at $6.79 billion versus the consensus estimate of $5.74 billion.

Yesterday, Altria’s Board of Directors (Board) authorized the expansion of Altria’s existing $2 billion share repurchase program to $3.5 billion. Altria expects to complete the expanded program by December 31, 2022. Share repurchases depend on marketplace conditions and other factors, and the program remains subject to the discretion of Altria’s Board.

GUIDANCE:

Altria Group sees FY2021 EPS of $4.58-$4.62, versus the consensus of $4.62.

For earnings history and earnings-related data on Altria Group (MO) click here.

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