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Jan. 28, 2021, 7:20 a.m. EST

Altria profit falls short, while revenue beats

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By Ciara Linnane

Altria Inc. /zigman2/quotes/208895754/composite MO -0.82% said it had net income of $1.924 billion, or $1.03 a share, in the fourth quarter, after a loss of $1.809 billion, or $1.00 a share, in the year-earlier period. Adjusted per-share earnings came to 99 cents, below the $1.02 FactSet consensus. Revenue rose to $6.304 billion from $6.007 billion, ahead of the $5.008 billion FactSet consensus. Chief Executive Billy Gifford said the tobacco businesses were resilient during the pandemic. The company is now expecting 2021 adjusted EPS to range from $4.49 to $4.62, compared with a FactSet consensus of $4.63. The company's board has approved a new $2 billion share buyback program, which it expects to complete by June 30, 2022. Shares were up 0.6% premarket, but have fallen 16.6% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.45% has gained 14% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.75% has gained 6%.

/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 44.63
-0.37 -0.82%
Volume: 9.40M
Feb. 25, 2021 4:05p
P/E Ratio
18.64
Dividend Yield
7.71%
Market Cap
$83.63 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,829.34
-96.09 -2.45%
Volume: 2.92B
Feb. 25, 2021 5:19p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,402.01
-559.85 -1.75%
Volume: 458.96M
Feb. 25, 2021 5:19p
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