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Stock Market & Financial Investment News

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September 7, 2011
10:25 EDTMOAltria Group reaffirms earnings outlook for 2011
Altria reaffirmed its 2011 adjusted EPS outlook of $2.01-$2.07, representing a growth rate of 6%-9%, ahead of the company's presentation at the Barclays Capital Back-to-School Consumer Conference. Altria said that as previously disclosed, PM USA's 2011 first-half results benefited from the trade building cigarette inventory levels. The company believes the trade depleted these inventories in Q3, which will negatively impact PM USA’s third-quarter cigarette volume and income comparisons. Altria, therefore, expects its quarterly adjusted diluted EPS growth to be stronger in Q4 compared to Q4.
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