Altria Group Inc. (MO) has reported its financial outcomes for the third quarter, showcasing a rise in profits compared to the same quarter last year, surpassing analysts' predictions. The company's reported net income was $2.293 billion, translating to earnings of $1.34 per share. This reflects an increase from the previous year's $2.166 billion, or $1.22 per share, for the same period.
On an adjusted basis, excluding specific items, Altria's income stood at $2.357 billion, with earnings of $1.38 per share. This is slightly above the consensus forecast by analysts, who had projected earnings of $1.35 per share, as per Thomson Reuters' aggregation. Typically, analysts' forecasts exclude any special items.
However, the company's quarterly revenue saw a slight decline of 0.4%, reducing from $6.281 billion last year to $6.259 billion.
For a quick overview of Altria Group Inc.'s performance under generally accepted accounting principles (GAAP):
- Earnings for Q3 were $2.293 billion, compared to $2.166 billion in the prior year.
- Earnings per share for Q3 increased to $1.34 from last year's $1.22.
- Revenue for Q3 was $6.259 billion, down from $6.281 billion a year earlier.
Looking ahead, the company has provided guidance for full-year earnings per share, projecting a range between $5.07 and $5.15.
