Altria misses by $0.04, misses on revs; guides FY21 EPS in-line, raises lower end of guidance range
- Reports Q3 (Sep) earnings of $1.22 per share, excluding non-recurring items, $0.04 worse than the S&P Capital IQ Consensus of $1.26; revenues fell 2.6% year/year to $5.53 bln vs the $5.73 bln S&P Capital IQ Consensus.
- Co issues in-line guidance for FY21, sees EPS of $4.58-4.62, excluding non-recurring items, vs. $4.62 S&P Capital IQ Consensus and prior guidance of $4.56-4.62.
- Altria expects its 2021 capital expenditures to be between $150 million and $200 million, a change from its previous expectation of $200 million to $250 million.
- Yesterday, Altria's Board of Directors (Board) authorized the expansion of Altria's existing $2 billion share repurchase program to $3.5 billion. Altria expects to complete the expanded program by December 31, 2022.
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