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Altria Group's (MO) Q1 Earnings Top Estimates, Increase Y/Y

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Altria Group, Inc. MO came out with first-quarter 2018 results, wherein adjusted earnings of 95 cents per share came ahead of the Zacks Consensus Estimate of 93 cents and surged 30.1% year-over-year.

The company continues to expect adjusted earnings for 2018 in a range of $3.90-$4.03 per share, reflecting year-over-year growth of 15-19%.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has remained unchanged over the past 30 days. However, if we look at Altria’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of about 3.7%.

Altria Group, Inc. Price and EPS Surprise
 

Altria Group, Inc. Price and EPS Surprise | Altria Group, Inc. Quote

Revenues: Altria generated net sales of approximately $6.1 billion that climbed 0.4% year over year. Revenues net of excises taxes increased 1.8% to $4.7 billion. The Zacks Consensus Estimate stands at $4.6 billion.

Key Events: The company repurchased shares for approximately $513 million during the quarter, when it paid dividends worth $1.3 billion. Also, management announced a sudden dividend hike of 6.1%. 

Altria also concluded consolidation of its facilities, which is anticipated to generate annual cost savings of about $50 million by 2018 end.

Zacks Rank: Currently, Altria carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results. You can see the complete list of today’s Zacks #1 Rank stocks here.

Check back later for our full write up on Altria’s earnings report!

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