Categories AlphaGraphs, Earnings, Industrials
Infographic: Highlights of Altria Group’s Q1 2022 earnings report
Tobacco company Altria Group, Inc. (NYSE: MO) has reported an increase in first-quarter profit despite a modest decrease in revenues. The company’s stock traded higher in the early hours of Friday’s session.
First-quarter earnings, adjusted for special items, moved up to $1.12 per share from $1.07 per share in the comparable period of fiscal 2021. On an unadjusted basis, net profit increased to $1.95 billion or $1.08 per share from $1.42 billion or$0.77 per share last year.
Total revenues decreased 2% annually to $5.89 billion during the three-month period, reflecting continued weakness in the core tobacco business.
Check this space to read management/analysts’ comments on Altria’s Q1 2022 earnings
“We are off to a strong start to the year and believe our businesses are on track to deliver against their
full-year plans. Our tobacco businesses performed well in a challenging macroeconomic environment and we
continued to make progress toward our Vision to responsibly lead the transition of adult smokers to a smoke-free
future,” said Billy Gifford, chief executive officer of Altria.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
IPO Alert: Here’s what to look for when CaliberCos goes public
The massive slowdown in the IPO market continued in the second half as the challenges posed by high inflation and interest rate hikes weighed on investor confidence. Meanwhile, there is
CarMax (KMX) Stock: Does the current dip offer a buying opportunity?
The automotive sector is one of the worst affected by the combination of high inflation and rising interest rates. Consumers have become more cautious and are prioritizing their purchases with
Ultimax Digital gears up for $10mln IPO. Here’s all you need to know
The IPO market has witnessed muted activity this year, and things don’t seem to have improved in the second half. The upcoming public listing of video game technology firm Ultimax
