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Altria Group Inc. (MO - Free Report) is one of the leading manufacturers of cigarettes and smokeless tobacco products in the U.S.
Altria has seen soft volume trends for the past few quarters, due to a general shift away from tobacco products amid accelerating prices of cigarettes and worldwide anti-tobacco campaigns. The company is thus putting greater focus on the growing electronic cigarettes to boost sales.
The company’s subsidiary, Nu Mark, launched Mark Ten e-cigarettes which are well accepted by consumers. Altria has been expanding its Mark e-cigarettes nationwide after its successful launch in Aug 2014, in order to boost its sales.
Investors should also note that MO has witnessed mixed estimate revisions during the past 30 days. Further MO has a decent history when it comes to recent earnings reports as the company posted positive surprises in two of the last four quarters and negative surprise for the remaining quarters with an average positive surprise of 1.47%.
Currently, MO has a Zacks Rank #2 (Buy), but that could change following Altria’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: MO beats on earnings. Our consensus earnings estimate called for EPS of 80 cents per share, and the company reported earnings per share of 81 per share. Investors should note that these figures take out stock option expenses.
Revenues: MO reported net revenues of $4.9 billion. This missed our consensus estimate of $5.03 billion.
Key Stats/Dev to Note: Shipment volume of Smokeable products declined 4.9% to 31.82 million units.
Altria raised its fiscal 2016 guidance. It now expects its 2016 adjusted EPS to be in a range of $3.01 to $3.07 compared to a range of $3.00 to $3.05 per share expected earlier. The guidance represents a growth of 7.5% to 9.5% from 2015.
Stock Price: Inactive in pre-market trading
Check back later for our full write up on this MO earnings report later!
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Altria Beats on Q2 Earnings, Sales Miss
Altria Group Inc. (MO - Free Report) is one of the leading manufacturers of cigarettes and smokeless tobacco products in the U.S.
Altria has seen soft volume trends for the past few quarters, due to a general shift away from tobacco products amid accelerating prices of cigarettes and worldwide anti-tobacco campaigns. The company is thus putting greater focus on the growing electronic cigarettes to boost sales.
The company’s subsidiary, Nu Mark, launched Mark Ten e-cigarettes which are well accepted by consumers. Altria has been expanding its Mark e-cigarettes nationwide after its successful launch in Aug 2014, in order to boost its sales.
Investors should also note that MO has witnessed mixed estimate revisions during the past 30 days. Further MO has a decent history when it comes to recent earnings reports as the company posted positive surprises in two of the last four quarters and negative surprise for the remaining quarters with an average positive surprise of 1.47%.
Currently, MO has a Zacks Rank #2 (Buy), but that could change following Altria’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: MO beats on earnings. Our consensus earnings estimate called for EPS of 80 cents per share, and the company reported earnings per share of 81 per share. Investors should note that these figures take out stock option expenses.
Revenues: MO reported net revenues of $4.9 billion. This missed our consensus estimate of $5.03 billion.
ALTRIA GROUP Price and EPS Surprise
ALTRIA GROUP Price and EPS Surprise | ALTRIA GROUP Quote
Key Stats/Dev to Note: Shipment volume of Smokeable products declined 4.9% to 31.82 million units.
Altria raised its fiscal 2016 guidance. It now expects its 2016 adjusted EPS to be in a range of $3.01 to $3.07 compared to a range of $3.00 to $3.05 per share expected earlier. The guidance represents a growth of 7.5% to 9.5% from 2015.
Stock Price: Inactive in pre-market trading
Check back later for our full write up on this MO earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>