Altria Reports 2019 Third-Quarter and Nine-Months Results; Announces New 2020 - 2022 Adjusted Diluted EPS Growth Objective to Advance Strategic Business Platform

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Go back to Altria Reports 2019 Third-Quarter and Nine-Months Results; Announces New 2020 - 2022 Adjusted Diluted EPS Growth Objective to Advance Strategic Business Platform

Altria Group (MO) Tops Q3 EPS by 4c, Recording $4.5B Impairment Related to Investment in JUUL

October 31, 2019 7:04 AM EDT

Altria Group (NYSE: MO) reported Q3 EPS of $1.19, $0.04 better than the analyst estimate of $1.15. Revenue for the quarter came in at $5.41 billion versus the consensus estimate of $5.34 billion.

JUUL Investment

Altria recorded a third-quarter non-cash pre-tax impairment charge of $4.5 billion related to its investment in JUUL. While there was no single determinative event or factor, Altria considered impairment indicators in totality, including: increased likelihood of U.S. Food & Drug Administration (FDA) action to remove flavored e-vapor products from the market pending a market authorization decision, various e-vapor... More