Altria Group Inc. reported a $2.52 billion third-quarter profit, or $1.51 per share, up from $2.38 billion, or $1.41 a share, a year earlier. The tobacco giant exceeded analyst expectations, driven by higher revenue and improved pricing power. The company raised its full-year earnings forecast, citing resilient demand and successful product diversification efforts. Altria's stock rose in premarket trading following the announcement.
The firm attributed the performance to strong sales across its core cigarette portfolio and growing contributions from smoke-free products. Despite ongoing regulatory challenges, Altria maintained robust margins through cost management and strategic pricing. Executives emphasized focus on innovation and shareholder returns.
Investors responded positively, with shares climbing 3.2% in early trading. The updated outlook signals confidence in sustained profitability, even as the industry navigates shifting consumer preferences and legal pressures.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing