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Stock impact report

Altria's stock rallies after profit and revenue beats, as COVID-19-related pantry loading boosts cigarette shipments [MarketWatch]

Altria Group, Inc. (MO) 
Last altria group, inc. earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: altria.com/investors
Company Research Source: MarketWatch
Shares of Altria Group Inc. jumped 2.6% in premarket trading, after the cigarette seller beat profit and revenue expectations, as COVID-19-related pantry loading helped boost shipment volumes. Net income rose to $1.55 billion, or 83 cents a share, from $1.12 billion, or 60 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.09, above the FactSet consensus of 98 cents. Revenue grew 13% to $6.36 billion, beating the FactSet consensus of $5.79 billion. Smokeable products shipments increased 6.2%, Marlboro shipments growing 6.7% and total cigarette shipments up 6.1%, while oral tobacco shipments rose 2.8%. Altria said it was withdrawing its 2020 outlook given uncertainties related to COVID-19, but said it's companies have not experienced material disruptions to supply chains or distribution systems. The stock has declined 19% year to date through Wednesday, while the Dow Jones Industrial Average has shed 14%. Show less Read more
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