Altria Group Inc. Earnings: Yet Another Quarter of Profitability

S&P 500 (NYSE:SPY) component Altria Group Inc. (NYSE:MO) reported its results for the first quarter. Altria Group manufactures and sells cigarettes and tobacco products as well as maintaining a portfolio of leveraged and direct finance leases.

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Altria Group Earnings Cheat Sheet for the First Quarter

Results: Net income for Altria Group Inc. remained steady at $937 million (48 cents per diluted share) from the year-earlier quarter.

Revenue: Remained constant at $5.65 billion.

Actual vs. Wall St. Expectations: Altria Group Inc. reported adjusted net income of 49 cents per share. By that measure, the company fell in line with the mean estimate of 49 cents per share. It beat the average revenue estimate of $4.01 billion.

Quoting Management: “Altria delivered strong financial results in the first quarter of 2012 as adjusted diluted EPS increased 11.4%,” said Michael E. Szymanczyk, Chairman and Chief Executive Officer of Altria. “The performance of our tobacco companies’ premium brands and effective cost management drove increases in adjusted operating companies income and margins in the smokeable and smokeless products segments.”

Key Stats:

The company met estimates last quarter after topping forecasts in the previous quarter with net income of 50 cents versus a mean estimate of net income of 49 cents per share.

Net income has dropped 9.5% year-over-year on average across the last five quarters. Performance was hurt by a 57.4% decline in the second quarter of the last fiscal year from the year-earlier quarter.

Looking Forward: The average estimate for the second quarter is steady at 57 cents a share. The average estimate for the fiscal year is $2.20 per share, a rise from $2.19 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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