Shares of tobacco company Altria Group, Inc. (MO) declined 6.2% on Thursday after its third-quarter 2021 earnings fell short of analysts’ estimates. The Virginia-based company produces and sells cigarettes, smokeless products and wine in the U.S. Its brands include Marlboro, Black & Mild, Copenhagen, Skoal, Red Seal, Husky, Chateau Ste. Michelle and 14 Hands. Altria reported adjusted earnings of $1.22 per share, lower than the Street’s estimate of $1.26 per share. However, the figure was 2.5% higher than the year-ago quarter. Even though net revenues fell 4.7% year-over-year to $6.8 billion, the number surpassed analysts’ expectations of $5.74 billion.
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Altria (NYSE:MO)
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