Altria beats 3Q profit forecasts

AP News
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Posted: Oct 27, 2016 7:48 AM
Altria beats 3Q profit forecasts

RICHMOND, Va. (AP) — Altria Group (MO) on Thursday reported third-quarter earnings of $1.09 billion.

The Richmond, Virginia-based company said it had profit of 56 cents per share. Earnings, adjusted for one-time gains and costs, came to 82 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The owner of Philip Morris USA, the nation's largest cigarette maker posted revenue of $5.19 billion in the period.

Altria expects full-year earnings in the range of $2.98 to $3.04 per share.

Altria shares have risen 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 5 percent. The stock has climbed 5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MO at http://www.zacks.com/ap/MO

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Keywords: Altria, Earnings Report, Priority Earnings