Altria: lowers 2023 earnings forecast

(CercleFinance.com) - Altria announced on Thursday that it had lowered its full-year earnings forecast, despite Q3 resuts beating expectations.
NB pmt about -2%.

This morning, the US tobacco giant reported EPS of $1.28, above the consensus of $1.22, on sales that fell 4% to $6.3bn.

Due to economic pressures, its premium Marlboro brand's market share fell by 0.3 point to 42.3%, while its budget cigarettes' market share rose by 1.1 point to 28.2%.

Altria also reduced its guidance range for adjusted EPS to $4.91-$4.98 (vs. $4.89-5.03 previously).


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