FILE - In this July 17, 2015, photo, a store manager holds packs of Marlboro cigarettes, an Altria brand, at a Smoker Friendly shop in Pittsburgh. Altria Group reports earnings Thursday, Feb. 1, 2018.
FILE - In this July 17, 2015, photo, a store manager holds packs of Marlboro cigarettes, an Altria brand, at a Smoker Friendly shop in Pittsburgh. Altria Group reports earnings Thursday, Feb. 1, 2018. Gene J. Puskar, File AP Photo
FILE - In this July 17, 2015, photo, a store manager holds packs of Marlboro cigarettes, an Altria brand, at a Smoker Friendly shop in Pittsburgh. Altria Group reports earnings Thursday, Feb. 1, 2018. Gene J. Puskar, File AP Photo

Business

Altria beats 4Q profit forecasts

The Associated Press

February 01, 2018 09:49 AM

RICHMOND, Va.

Altria Group (MO) on Thursday reported fourth-quarter net income of $4.97 billion.

On a per-share basis, the Richmond, Virginia-based company said it had profit of $2.60. Earnings, adjusted for one-time gains and costs, were 91 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The owner of Philip Morris USA, the nation's largest cigarette maker posted revenue of $6.1 billion in the period. Its adjusted revenue was $3.94 billion.

Altria expects full-year earnings in the range of $3.90 to $4.03 per share.

Altria shares have fallen 1.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 6 percent. The stock has decreased 1 percent in the last 12 months.