Categories AlphaGraphs, Consumer, Earnings

Altria Group (MO) Q2 earnings beat; reestablishes FY20 EPS outlook

Tobacco giant Altria Group, Inc. (NYSE: MO) reported stronger-than-expected earnings and revenues for the second quarter of 2020. The company also issued earnings guidance for fiscal 2020.

Altria Group Q2 2020 earnings infographic

The company posted adjusted earnings of $1.09 per share for the quarter, up 1% from the year-ago period. Reported profit was $1.94 billion or $1.04 per share, compared to $1.99 billion or $1.07 per share recorded in the second quarter of 2019. The bottom-line also topped the Street view.

Revenues, meanwhile, decreased 3.8% annually to $6.37 billion but exceeded analysts’ forecast. The management expects full-year adjusted earnings per share to be in a range of $4.21 to $4.38, representing a 0-4% year-over-year increase. It is in line with the outlook issued earlier.


Looking forward to listening to management/analysts’ comments on Q2 results? Stay tuned here for Altria’s Q2 2020 earnings call transcript 


“With a better understanding of COVID-19 impacts on adult tobacco consumer purchasing behavior and an additional quarter of ABI earnings contributions, we’re reestablishing full-year 2020 adjusted diluted EPS guidance,” said Altria’s CEO Billy Gifford.

Also Read:  Thermo Fisher Scientific (TMO) Earnings: 3Q20 Key Numbers

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