Altria Group Reports Q2 Earnings Beat

Altria Group MO reported second-quarter earnings of $1.10 per share, which met the analyst consensus estimate. This is a 8.91% increase over earnings of $1.01 per share from the same period last year.

The company reported quarterly sales of $6.62 billion, which beat the analyst consensus estimate of $5.09 billion by 30.06%. This is a 35.68% increase over sales of $4.879 billion the same period last year.

"Altria delivered excellent second quarter adjusted diluted earnings per share growth of nearly 9%, driven by our core tobacco businesses," said Howard Willard, Altria's CEO. "We've maintained our focus on the adult tobacco consumer and believe that with our leading premium tobacco brands, U.S. commercialization rights to IQOS, investment in JUUL and pending transaction for on!, we are best positioned among tobacco peers to lead through a dynamic time in the U.S."

Altria reaffirmed its guidance to deliver full-year 2019 adjusted diluted earnings per share growth of 4% to 7%.

Altria shares were trading up 0.54% at $50.58 in Tuesday’s pre-market session. The stock has a 52-week high of $66.04 and a 52-week low of $42.40.

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