Marlboro Maker Altria Reaffirms FY22 Earnings Guidance Post Q2 Beat

Marlboro Maker Altria Reaffirms FY22 Earnings Guidance Post Q2 Beat
  • Marlboro maker Altria Group Inc MO reported a second-quarter FY22 sales decline of 5.7% year-on-year, to $6.54 billion, beating the consensus of $5.41 billion.
  • Revenue for smokeable products decreased 2.9%, and oral tobacco products fell 4%.
  • Gross profit declined 1.8% Y/Y to $3.6 billion. The operating income for the quarter decreased 2.5% to $3.1 billion.
  • Adjusted EPS of $1.26 beat the analyst consensus of $1.25.
  • Altria held $2.6 billion in cash and equivalents as of June 30, 2022. The total debt of Altria amounted to $27.6 billion.
  • Outlook: Altria reaffirmed the FY22 adjusted EPS forecast of $4.79 - $4.93 versus the consensus of $4.83.
  • "Our tobacco businesses performed well in a challenging macroeconomic environment for the first half of the year," said CEO Billy Gifford.
  • Price Action: MO shares are trading higher by 0.81% at $44.42 on the last check Thursday.
  • Photo Via Wikimedia

Posted In: BriefsEarningsNewsGuidanceGeneral