Business

Altria misses 3Q profit forecasts

Posted October 29, 2015 7:00 am

The Associated Press

RICHMOND, Va. (AP) - Altria Group (MO) on Thursday reported third-quarter earnings of $1.53 billion.

The Richmond, Virginia-based company said it had net income of 78 cents per share. Earnings, adjusted for non-recurring gains, came to 75 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The owner of Philip Morris USA, the nation's largest cigarette maker posted revenue of $4.36 billion in the period.

Altria expects full-year earnings in the range of $2.76 to $2.81 per share.

Altria shares have climbed 25 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1.5 percent. The stock has climbed 29 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

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