UPDATE 1-Altria abandons 2020 forecast; share rise as it continues dividend [Reuters]
Altria Group, Inc. (MO)
Last altria group, inc. earnings: 4/30 07:00 am
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Source: Reuters
Altria abandons 2020 forecast; share rise as it continues dividend (Reuters) - Marlboro cigarettes maker Altria Group Inc ( MO.N ) abandoned its full-year profit forecast for 2020 and beyond, citing “uncertainty” related to the COVID-19 pandemic. Shares of the company, however, rose about 3% in early trading after it said it would continue to pay dividend. Altria said it would approach the 2020 dividend by recommending a quarterly rate that reflects its cash position and balance sheet strength. To save cash, its board rescinded $1 billion share buyback program that had $500 million remaining. Revenue, net of excise taxes, rose 15% to $5.05 billion, helped by shoppers stocking up on cigarettes ahead of coronavirus-related shutdowns around the world. Analysts on average expected $4.61 billion, according to Refinitiv. Earnings per share came in at $1.09, handily beating the average analyst estimate of 98 cents per share.
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Earnings
- 10/30/25 - Beat
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Analyst Actions
- 10/31/25 - UBS
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Sec Filings
- 10/30/25 - Form 10-Q
- 10/30/25 - Form 8-K
- 10/9/25 - Form 8-K
- MO's page on the SEC website