Altria Group Q2: Inline EPS, Reaffirmed FY23 Earnings Guidance & More
Portfolio Pulse from Shivani Kumaresan
Altria Group Inc (NYSE:MO) reported Q2 FY23 revenues net of excise taxes of $5.438 billion, slightly missing the analyst consensus of $5.45 billion. Net revenues declined 0.5% YoY to $6.5 billion. The company reaffirmed its FY23 earnings guidance and reported that it repurchased 10.4 million shares at an average price of $45.37. Altria's shares are trading higher by 0.26% at $45.54 in premarket trading.
August 01, 2023 | 1:14 pm
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Altria's Q2 FY23 revenues slightly missed analyst expectations, but the company reaffirmed its FY23 earnings guidance. The company also repurchased shares, which could be a positive signal to investors.
Altria's revenues missed analyst expectations, which could negatively impact the stock. However, the company reaffirmed its FY23 earnings guidance, which could reassure investors about the company's future performance. Additionally, the company repurchased shares, which could be interpreted as a positive signal about the company's confidence in its stock, potentially offsetting the negative impact of the revenue miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100