Altria Group (MO) Tops Q1 EPS by 3c; Reaffirms Outlook
Altria Group (NYSE: MO) reported Q1 EPS of $0.72, $0.03 better than the analyst estimate of $0.69. Revenue for the quarter came in at $6.07 billion, versus $5.8 billion reported last year.
Altria Group reaffirms FY2016 EPS of $3.00-$3.05.
“Altria is off to an excellent start in 2016, growing adjusted diluted earnings per share by 14.3% despite a tough 2015 comparison,” said Marty Barrington, Altria’s Chairman, Chief Executive Officer and President. “Our first-quarter results illustrate the strength of our core tobacco businesses and our focus on execution. And Altria paid shareholders over $1.1 billion in dividends during the quarter.”
“The smokeable products segment continued its outstanding performance with contributions across the brand portfolio. In smokeless products, USSTC continues to execute its strategies, including the successful national expansion of its innovative Copenhagen Mint.”
“We also have made significant progress against the $300 million productivity initiative we announced on January 28th. Among other actions, we completed the realignment of our organization in the quarter,” said Mr. Barrington.
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