News

Altria Group Shares Fall as Guidance is Narrowed

1 Mins read

Altria Group (ticker: MO) is experiencing a decline in shares after adjusting its earnings guidance for 2023. The company now expects adjusted earnings in the range of $4.91 to $4.98 per share, compared to the previous guidance of $4.89 to $5.03. In their statement, Altria cited the dynamic external environment as the reason for the revision.

For the third quarter, the company reported adjusted earnings of $1.28 per share, slightly below Wall Street estimates of $1.29 according to FactSet. Net revenue for the quarter was reported at $6.28 billion, with revenue net of excise taxes standing at $5.3 billion.

CEO Billy Gifford expressed confidence in their growth plans, stating, “I believe we have the appropriate strategies and people in place to execute our growth plans. I continue to believe that we can achieve our Vision and create long-term value for our shareholders.”

As a result of this news, shares of Altria Group fell 0.9% in premarket trading, reaching $42.44. This decline adds to the overall drop of 6.3% prior to Thursday’s trading session.

Related posts
News

Largo Reports Q1 2025 Production and Sales Results; Provides Update on Operational Turnaround Plans By Investing.com

7 Mins read
All dollar amounts expressed are in thousands of U.S. dollars unless otherwise indicated.Trending NowBest Forex Trading Robots To Invest In 2022 Q1…
News

IMF、サウジの2025年成長率見通しを3%に下方修正

1 Mins read
Manya reports on prominent publicly listed U.S. financial firms, including Wall Street’s biggest banks, card companies, asset managers, and fintechs. She also…
News

Coinbase launches XRP, nano XRP futures contracts

1 Mins read
The expansion of Coinbase Derivatives’ offerings comes amid growing institutional interest in altcoin derivatives.Trending NowBest Forex Trading Robots To Invest In 2022…

Leave a Reply

Your email address will not be published. Required fields are marked *

+ 6 = 14