Altria Stock Gains On Q4 Earnings Beat

Altria Group Inc MO reported fourth-quarter FY21 revenues net of excise taxes of $5.09 billion, +0.6% year-on-year, beating the analyst consensus of $5 billion. Net revenues declined 0.8% to $6.26 billion.
Revenue for smokeable products increased 2.3%, and oral tobacco products rose 4.8%.
Gross profit climbed 5.4% Y/Y to $3.3 billion. The operating income for the quarter increased 6.2% to $2.84 billion.
Adjusted EPS of $1.09 beat the analyst consensus of $1.08.
Altria held $4.5 billion in cash and equivalents as of December 31, 2021. The total debt of Altria amounted to $28.04 billion.
Outlook: Altria sees FY22 adjusted EPS of $4.79 - $4.93 versus the consensus of $4.84.
Altria expects the adjusted EPS growth to be weighted toward the year's second half.
Price Action: MO shares are trading higher by 2.25% at $50.58 on the last check Thursday.

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