S&P 500 component Altria Group Inc. reported its results for the fourth quarter. Altria Group manufactures and sells cigarettes and tobacco products as well as maintaining a portfolio of leveraged and direct finance leases.
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Altria Group Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for Altria Group Inc. fell to $836 million (41 cents per share) vs. $919 million (44 cents per share) a year earlier. This is a decline of 9% from the year earlier quarter.
Revenue: Rose 3.4% to $6.1 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: MO reported adjusted net income of 50 cents per share. By that measure, the company beat the mean estimate of 49 cents per share. It beat the average revenue estimate of $4.23 billion.
Quoting Management: “Altria delivered strong returns for its shareholders in 2011 in a challenging business environment while taking steps to continue creating shareholder value into the future,” said Michael E. Szymanczyk, Chairman and Chief Executive Officer of Altria. “Altria grew its redefined adjusted diluted EPS by 7.9% behind the strength of our tobacco and wine businesses.”
Key Stats:
The company beat estimates last quarter after being in line with expectations in the third quarter with net income of 56 cents per share.
Net income has dropped 4.1% year over year on average across the last five quarters. Performance was hurt by a 57.4% decline in the second quarter from the year earlier quarter.
Looking Forward: Expectations for the first quarter of the next fiscal year have not changed from 49 cents. Over the past sixty days, the average estimate for the fiscal year has reached $2.03 abs per share, a decline from $2.04.
Competitors to Watch: Reynolds American, Inc. , Lorillard Inc. , Philip Morris Intl. Inc. , Vector Group Ltd. , Star Scientific, Inc. , British American Tobacco , Alliance One Intl., Inc. , and Universal Corporation .
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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