BUZZ-Altria slumps as annual profit forecast below estimates
Reuters
Oct 30
BUZZ-Altria slumps as annual profit forecast below estimates
** Shares of tobacco giant Altria <MO.N> down about 5% at $58.88 premarket
** Co forecast annual profit largely below market expectations, hurt by lower demand for its cigarettes and oral smoking alternatives such as on! nicotine pouches
** Expects annual adjusted EPS between $5.37 and $5.45, below analysts' estimate of $5.44 - data compiled by LSEG
** Net revenue for Q3 fell 3% to $6.07 billion from year ago, but beat analysts' estimate of $5.31 billion
** Up to last close, stock up ~18.5% YTD
(Reporting by Sanskriti Shekhar in Bengaluru)
((Sanskriti.Shekhar@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.