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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 +1.94% 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 +1.95% has gained 14% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.85% has gained 6%.

/zigman2/quotes/208895754/composite
US : U.S.: NYSE
$ 45.12
+0.86 +1.94%
Volume: 11.43M
March 5, 2021 4:03p
P/E Ratio
18.81
Dividend Yield
7.62%
Market Cap
$82.27 billion
Rev. per Employee
$2.94M
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/zigman2/quotes/210599714/realtime
US : S&P US
3,841.94
+73.47 +1.95%
Volume: 3.33B
March 5, 2021 5:44p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,496.30
+572.16 +1.85%
Volume: 505.35M
March 5, 2021 5:44p
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