Altria Group (MO) Tops Q3 EPS by 3c, Updates FY Guidance
Altria Group (NYSE: MO) reported Q3 EPS of $1.19, $0.03 better than the analyst estimate of $1.16. Revenue for the quarter came in at $5.68 billion versus the consensus estimate of $5.53 billion.
Altria Group sees FY2020 EPS of $4.30-$4.38, versus the consensus of $4.32.
- Altria narrows its 2020 full-year adjusted diluted earnings guidance based on year-to-date performance and insight into an additional quarter of ABI earnings contributions. Altria now expects its 2020 full-year adjusted diluted EPS to be in a range of $4.30 to $4.38, representing a growth rate of 2% to 4% from an adjusted diluted EPS base of $4.21 in 2019. Altria also narrows its expectation for its 2020 full-year adjusted effective tax rate to be in a range of 24.5% to 25.5%.
- While the 2020 full-year adjusted diluted EPS guidance accounts for a range of scenarios, the external environment remains dynamic. Altria will continue to monitor conditions for ATCs, including unemployment rates, disposable income (which may be impacted by potential future changes in government stimulus and federal unemployment benefit payments), mobility and purchasing behaviors.
- Altria revises its estimates for 2020 full-year domestic cigarette industry volumes to be in a range of unchanged versus the prior year to down 1.5% based on better year-to-date industry performance and expectations for continued category resilience. This range replaces Altria’s previous estimates of down 2% to 3.5% versus the prior year.
For earnings history and earnings-related data on Altria Group (MO) click here.