Altria (MO) announced third-quarter diluted earnings per share from continuing operations of $1.24, up $0.19 or 18.1% versus the prior year.
And, the company had further good tidings. It raised its forecast to a range of $4.20 to $4.25 for 2007 full-year diluted earnings per share from continuing operations.
Revenues net of excise taxes increased 5.9% to $10.0 billion for the third quarter of 2007, driven by increases in both U.S. tobacco and international tobacco.
Operating income increased 10.4% to $3.7 billion.Earnings from continuing operations increased 18.9% to $2.6 billion.
Philip Morris USA (PM USA), Altria Group, Inc.’s U.S. tobacco business, achieved a record 50.6% retail market share.
Philip Morris International (PMI), Altria Group, Inc.’s international tobacco business, reported that its revenues net of excise taxes were up 9.3% to $5.9 billion. Operating companies income grew 18.8% to $2.5 billion, due primarily to higher pricing, favorable currency of $138 million and productivity and cost savings. MO plans to spin-off it international operations.
Shares were up almost 1% to $71.35 before the open.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.