Altria Group Q4 Profit Tops Estimates; Issues FY22 Guidance

(RTTNews) - Altria Group, Inc. (MO) reported fourth-quarter adjusted profit per share of $1.09 compared to $0.99, prior year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.08, for the quarter. Analysts' estimates typically exclude special items. The company said its adjusted EPS increased 10.1%, primarily driven by higher adjusted OCI, favorable net periodic benefit income and fewer shares outstanding, partially offset by higher income taxes.

Net profit was $1.62 billion or $0.88 per share compared to $1.92 billion or $1.03 per share. Revenue was $6.26 billion compared to $6.30 billion, a year ago. Net revenues decreased 0.8% primarily driven by no net revenues in the wine segment, partially offset by higher net revenues in the financial services business, oral tobacco products and smokeable products segments. Revenues net of excise taxes increased 0.6% to $5.1 billion. Analysts on average had estimated $5.0 billion in revenue. The company expects 2022 adjusted EPS in a range of $4.79 to $4.93, representing a growth rate of 4% to 7%. Analysts expect the company to report profit per share of $4.84.