Tag: $Altria

Altria(MO) Group stock was rising Wednesday after the tobacco company reported quarterly earnings that beat expectations and lifted the floor for its full-year guidance.

Tobacco company Altria (MO.N), on Tuesday beat first-quarter profit estimates but flagged an $873 million impairment at its e-cigarette business, where shipments dropped 70% amid a patent dispute.

Altria reported third quarter EPS of $1.38, $0.03 better than the analyst estimate of $1.35. Revenue for the quarter came in at $5.34B versus the consensus estimate of $5.32B.

Altria the U.S. maker of Marlboro cigarettes, boosted its quarterly dividend by 4.1% to $1.02, marking the 55th straight year of dividend increases, the company said Thursday.

Altria missed expectations for quarterly revenue and profit on Wednesday, as the tobacco giant contends with persistent weakness in demand for its cigarette brands.

Anheuser-Busch InBev shares were dropping early on Thursday. It was hit by news that tobacco company Altria Grou intends to sell down a significant portion of its holding in the Budweiser brewer.

Shares of Altria Group were rising after the maker of Marlboro cigarettes topped quarterly sales estimates and said it would be buying back $1 billion of stock.

Altria posted third-quarter net revenue of $6.28 billion. JUSTIN SULLIVAN/GETTY IMAGES
Altria Group
MO 0.66% shares were falling after the maker of Marlboro cigarettes narrowed guidance for the year.

Altria Group Inc said Wednesday that it will pay $235 million to settle at least 6,000 lawsuits accusing it of fueling a teen vaping epidemic through its former investment in e-cigarette maker Juul Labs Inc.