Altria Reports 2019 First-Quarter Results; Reaffirms 2019 Full-Year Earnings Guidance
Altria Group, Inc. (Altria) (NYSE:MO) today announces its 2019 first-quarter business results and reaffirms its guidance for 2019 full-year adjusted diluted earnings per share (EPS).
“After taking steps to position Altria for long-term success at the end of 2018, we entered 2019 with an evolved business platform that includes our strong core tobacco businesses and new strategic investments with tremendous potential for growth,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “We believe we’ve made significant progress in the first quarter on key initiatives to realize the potential of our evolved business platform.”
“As expected, Altria's first quarter adjusted diluted EPS declined in the mid-single digit range as we incurred higher interest expense as a result of our recently issued debt, without the full benefit of savings from our cost reduction program, which began to ramp up at the end of the quarter. We continue to expect full-year adjusted diluted EPS growth of 4% to 7%.”
As previously announced, a conference call with the investment community and news media will be webcast on April 25, 2019 at 9:00 a.m. Eastern Time. Access to the webcast is available at www.altria.com/webcasts and via the Altria Investor app.
Altria Headline Financials1
|($ in millions, except per share data)||Q1 2019||
|Revenues net of excise taxes||$||4,389||(6.0)%|
|Reported tax rate||26.1||%||2.9 pp|
|Adjusted tax rate||24.0||%||0.8 pp|
|Reported diluted EPS||$||0.60||(40.0)%|
|Adjusted diluted EPS||$||0.90||(5.3)%|
1 “Adjusted” financial measures presented in this release exclude the impact of special items. See “Basis of Presentation” for more information.