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Updated · The Wall Street Journal · Apr 30Altria posts higher Q1 profit and revenue
11 articles · Updated · The Wall Street Journal · Apr 30
- Net income rose to $2.18 billion, or $1.30 a share, on revenue of $5.43 billion; adjusted earnings of $1.32 beat FactSet estimates.
- Higher cigarette and oral tobacco prices offset lower shipment volumes and increased promotions, lifting smokeable products sales despite Marlboro losing 1.4 percentage points of overall cigarette market share.
- Altria reaffirmed its full-year outlook, saying guidance reflects moderated e-vapor industry growth and increased macroeconomic uncertainty facing adult consumers.
Can aggressive price hikes truly save Altria as its core cigarette business continues to shrink? Is Altria's new FDA-approved 'on! PLUS™' pouch its future or just a new nicotine controversy?