Altria Stock ( NYSE:MO )
Altria Group Inc. ( NYSE:MO ) reported results for the fourth quarter of 2022 that rose year over year and met the Consensus Estimate. Net revenues, on the other hand, dropped from the previous quarter. Following the announcement, Altria stock increased by roughly 5%.
Key Findings
Adjusted profits per share were $1.18, up 8.3% year on year and in line with the $1.18 Consensus Estimate. Higher adjusted operating companies income (OCI), a lower number of shares outstanding, and lower interest expenses all contributed to the year-over-year increase.
Year on year, net revenues fell 2.3% to $6,111 million, mainly due to lower net revenues in the smokeable goods sector. After excise taxes, revenues fell 0.1% to $5,083 million.
The Revenue Consensus Estimate is $5,164.2 million.
Specifics by Segment
Smokeable Products: Year on year, net revenues declined 2.4% to $5,456 million due to lower shipping volume, which was somewhat offset by increased pricing and fewer promotional investments. Revenues were similar to the previous quarter, net of excise taxes.
Domestic cigarette shipping volume decreased by 12.1%, owing to the industry’s decline rate, retail share losses, and calendar adjustments. After accounting for changes in trade inventory, calendar shifts, and other factors, the total estimated domestic cigarette industry volume fell by 9%. The volume of cigars shipped by Altria fell by 3.8%.
As a result of higher pricing, lesser promotional spending, and lower per-unit settlement charges, the segment’s adjusted OCI increased by 4% to $2,603 million.
These were countered in par...
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