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Tuesday, July 30, 2019

-=Altria (MO) reported earnings on Tue 30 July 2019 (b/o)

Altria reports EPS in-line, beats on revs; reaffirms FY19 EPS guidance; authorizes $1 bln buyback
  • Reports Q2 (Jun) earnings of $1.10 per share, in-linewith the S&P Capital IQ Consensus of $1.10; revenues rose 6.4% year/year to $5.19 bln vs the $5.08 bln S&P Capital IQ Consensus.
  • Coreaffirms guidancefor FY19, sees EPS of $4.15-4.27, excluding non-recurring items, vs. $4.18 S&P Capital IQ Consensus. 
  • "Altria delivered excellent second quarter adjusted diluted earnings per share growth of nearly 9%, driven by our core tobacco businesses," said Howard Willard, Altria's Chairman and Chief Executive Officer. "We've maintained our focus on the adult tobacco consumer and believe that with our leading premium tobacco brands, U.S. commercialization rights to IQOS, investment in JUUL and pending transaction for on!, we are best positioned among tobacco peers to lead through a dynamic time in the U.S." "Our 2019 plans remain on track, and we reaffirm our guidance to deliver full-year 2019 adjusted diluted earnings per share growth of 4% to 7%."
  • Altria repurchased 3.7 million shares in the second quarter at an average price of $52.93 per share, for a cost of $195 million, completing its $2 billion share repurchase program. Yesterday, Altria's Board authorized a new $1 billion share repurchase program, which the company expects to complete by the end of 2020.

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