Altria Group (MO) Misses Q1 EPS by 1c, Reaffirms FY Earnings Guidance
Altria Group (NYSE: MO) reported Q1 EPS of $0.73, $0.01 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $4.59 billion versus the consensus estimate of $4.64 billion.
2017 Full-Year Guidance
Altria reaffirms its guidance for 2017 full-year adjusted diluted EPS to be in a range of $3.26 to $3.32. This range represents a growth rate of 7.5% to 9.5% from an adjusted diluted EPS base of $3.03 in 2016 as shown in Table 1. This range excludes the 2017 special items shown in Table 2.
Altria continues to expect higher adjusted diluted EPS growth in the second half of the year compared to the first half driven by various factors. These include the financial effects of the Recall during the first quarter of 2017 and the benefit of reporting four full quarters of equity income from Altria’s beer investment in 2017 versus three quarters in 2016.
Altria continues to expect that its 2017 full-year effective tax rate on operations will be approximately 36%.
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