Altria Group, Inc. (MO) Misses Q2 EPS by 1c, Bumps FY EPS Higher; Announces New $1B Buyback

July 22, 2014 7:13 AM

Altria Group, Inc. (NYSE: MO) reported Q2 EPS of $0.65, $0.01 worse than the analyst estimate of $0.66. Revenue for the quarter came in at $6.26 billion, versus $6.31 billion reported last year.

Altria Group, Inc. sees FY2014 EPS of $2.54-$2.59, versus prior guidance of $2.52-$2.59 and the consensus of $2.57.

Additionally, Altria’s Board recently authorized a new $1 billion share repurchase program, which Altria expects to complete by the end of 2015

“During the first six months of 2014, Altria grew adjusted diluted EPS by 5.2% behind solid performance by our companies’ leading premium brands and the strength of our diverse business model,” said Marty Barrington, Chairman and Chief Executive Officer of Altria. “Our companies are delivering against their strategies and their full-year plans are on track. We thus are tightening our guidance and now expect to deliver full-year adjusted diluted EPS growth in a range of 7% to 9%.”

“We’re also pleased with our progress in innovative products. Nu Mark began its national expansion of MarkTen in June and is achieving strong distribution,” said Mr. Barrington. “Nu Mark also continues to integrate Green Smoke into its business platform, beginning with its supply chain capabilities.”

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

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