Altria Group Q1 Profit Beats Estimates; Affirms Guidance

(RTTNews) - Altria Group, Inc. (MO) reported first-quarter adjusted EPS of $1.12 compared to $1.07, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.09, for the quarter. Analysts' estimates typically exclude special items. The company said its adjusted EPS increased 4.7% primarily driven by higher adjusted OCI, fewer shares outstanding and favorable interest expense, partially offset by lower adjusted earnings from our investment in ABI.

Net earnings attributable to Altria was $1.96 billion, an increase of 37.6% from a year ago. Reported EPS was $1.08 compared to $0.77, last year.

Net revenues decreased 2.4% to $5.9 billion, primarily driven by the sale of wine business in October 2021. Excluding the wine segment, net revenues were essentially unchanged. Revenues net of excise taxes decreased 1.3% to $4.8 billion. Analysts on average had estimated $4.88 billion in revenue.

Altria Group reaffirmed its guidance to deliver 2022 adjusted EPS in a range of $4.79 to $4.93. This range represents an adjusted diluted EPS growth rate of 4% to 7%. The company continues to expect that adjusted diluted EPS growth will be weighted toward the second half of the year.