Altria 3Q Profit Rises Despite Sales Slip
By Connor Hart
Altria Group logged higher profit in the third quarter despite lower revenue as expenses decreased.
The tobacco company on Thursday posted a profit of $2.38 billion, or $1.41 a share, compared with $2.29 billion, or $1.34 a share, in the same quarter a year earlier.
Stripping out certain one-time items, earnings were $1.45 a share. Analysts surveyed by FactSet expected adjusted earnings of $1.44 a share.
Revenue slipped 3% to $6.07 billion but came in ahead of the $5.29 billion that Wall Street modeled.
The company's cost of sales fell to $1.44 billion from $1.54 billion. Marketing, administration and research expenses fell to $485 million from $526 million.
Chief Executive Billy Gifford said the company's core tobacco businesses remain resilient. At the same time, it is advancing its smoke-free portfolio and expanding adjacently with new non-nicotine products, he added.
For the year, Altria raised the low end of its adjusted earnings outlook to $5.37 a share from $5.35 a share, while maintaining the high end at $5.45 a share. Analysts are looking for $5.43 a share.
Altria's board on Wednesday authorized the expansion of the company's existing share repurchase program to $2 billion from $1 billion, extending the buyback through Dec. 31, 2026.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
October 30, 2025 07:49 ET (11:49 GMT)
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