Altria Beats Estimates as Smokeless Products Barely Make Up For Cigarette and Cigar Declines -- Earnings Review

   By Cara Lombardo

Altria Group Inc. (MO) reported its first-quarter earnings Thursday. Here's what you need to know:

EARNINGS: The Marlboro maker reported net income of $1.89 billion, or 95 cents a share on an adjusted basis. Analysts polled by Thomson Reuters had expected adjusted earnings of 92 cents a share.

REVENUE: Revenue grew 0.4% to $6.1 billion, more than the $4.6 billion analysts expected. Higher net revenues in the smokeless-products segment were mostly offset by lower net revenues in the smokeable products segment. Net revenues increased 12.7% in smokeless products, including brands such as Skoal, and decreased 0.8% in smokeable cigars and cigarettes.

SHARES: Altria shares, down 22% this year, are down 0.6% premarket Thursday.

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

April 26, 2018 07:40 ET (11:40 GMT)

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