Altria Stock Falls 9.3% After Q2 Earnings Miss and Softer Full-Year Outlook
Altria (NYSE: MO) stock fell 9.3% on Thursday following the release of its latest quarterly report. The tobacco giant's second-quarter adjusted earnings of $1.48 per share missed Wall Street estimates by $0.02, while revenue after excise taxes rose 1.2% to $5.36 billion, largely in line with forecasts. The company also reported a 4.5% year-over-year decline in adjusted domestic unit volume shipments for its smokable segment. Altria's updated full-year adjusted earnings per share guidance of $5.61 to $5.72 has a midpoint below the prior average analyst forecast of $5.69.
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