BUDFF - Altria Group's Market Share Woes Warrant Attention
2024-04-26 07:59:26 ET
Summary
- Altria Group reported Q1 revenue that fell short of expectations, with a decline in sales from its Smokeable Products operations.
- The company's core business is in decline, although its smokeless products show potential for the future.
- Management is reducing debt and buying back stock, but caution is still warranted due to the company's declining market share.
April 25th ended up being a rather interesting day for shareholders of tobacco giant Altria Group ( MO ). Management reported financial results covering the first quarter of the 2024 fiscal year. For that quarter, the company announced revenue that fell short of expectations. However, earnings per share exceeded forecasts, while adjusted earnings per share matched what analysts were anticipating. All things considered, it was a fairly decent quarter. However, when you dig deeper, you start to see some issues....
Altria Group's Market Share Woes Warrant Attention