Altria Group (MO) reported Q3 EPS of $1.28, $0.02 worse than the analyst estimate of $1.30. Revenue for the quarter came in at $6.55 billion versus the consensus estimate of $5.6 billion.
GUIDANCE:
Altria Group sees FY2022 EPS of $4.81-$4.89, versus the consensus of $4.85.
- We narrow our guidance for 2022 full-year adjusted diluted EPS to be in a range of $4.81 to $4.89, representing a growth rate of 4.5% to 6% from an adjusted diluted EPS base of $4.61 in 2021. While the 2022 full-year adjusted diluted EPS guidance accounts for a range of scenarios, the external environment remains dynamic. We will continue to monitor conditions related to (i) the economy, including the impact of high inflation, rising interest rates and global supply chain disruptions, (ii) ATC dynamics, including disposable income, purchasing patterns and adoption of smoke-free products, and (iii) regulatory and legislative developments.
- Our 2022 full-year adjusted diluted EPS guidance range includes planned investments in support of our Vision, such as (i) enhancement of our digital consumer engagement system, (ii) increased smoke-free product research, development and regulatory preparation expenses and (iii) marketplace activities in support of our smoke-free products. The guidance range also includes anticipated inflationary increases in MSA expenses and direct and indirect materials costs and our current expectation that PM USA will not have access to the IQOS system in 2022.
- We expect our 2022 capital expenditures to be between $175 million and $225 million, a change from our previous expectation of $200 million to $250 million.