Altria profit falls 23% but matches analyst estimate
MOAltria(MO) Market Watch·2024-02-01 20:16

Altria Group Inc.’s stock MO, -0.84% rose 1.3% in premarket trading after the tobacco company set a new $1 billion share buyback program and matched analyst estimates for adjusted earnings. Altria said its fourth-quarter profit fell by 23% to $2.06 billion, or $1.16 a share, from $2.69 billion, or $1.50 a share, in the year-ago quarter. Altria’s adjusted fourth-quarter profit of $1.18 a share matched the FactSet consensus estimate. Revenue dipped by 1.2% to $5.02 billion, slightly shy of the analyst estima ...