Altria Q2 EPS Misses, Oral-Tobacco Slumps; Shares Drop 3.4%
MO sits 32% above its 52-week low of $54.7.
Summary
Altria's Q2 adjusted EPS of $1.48 missed the $1.50 consensus, driven by a 5.3% decline in oral-tobacco revenue as on! nicotine pouch sales weakened and premium cigarette demand weakened. Smokeable products grew 0.7% on pricing, but higher promotions and lower volumes offset gains. Revenue of $6.11B beat estimates by a wide margin, yet the bottom-line miss and oral segment softness are weighing on shares, down 3.4% premarket. The company narrowed its full-year adjusted EPS guidance to $5.61–$5.72, reflecting expected second-half benefits from cigarette import/export activity. This follows the earlier guidance announcement today and the May plant consolidation news, adding detail on segment-level pressures.
At the time of this announcement, MO was trading at $72.31 on NYSE in the Trade & Services sector, with a market capitalization of approximately $125.1B. The 52-week trading range was $54.70 to $77.06. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.