Tobacco company Altria (NYSE:MO) will be reporting earnings this Thursday morning. Here’s what to look for.
Altria beat analysts’ revenue expectations last quarter, reporting revenues of $5.08 billion, flat year on year. It was a slower quarter for the company, with a miss of analysts’ EBITDA estimates and a miss of analysts’ adjusted operating income estimates.
Is Altria a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Altria’s revenue to grow 1.2% year on year, a reversal from the 4.2% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Altria has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Altria’s peers in the beverages, alcohol, and tobacco segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Keurig Dr Pepper delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 3.7%, and Constellation Brands reported a revenue decline of 11.3%, topping estimates by 2.3%. Keurig Dr Pepper traded up 9.3% following the results while Constellation Brands was also up 8.5%.
Read our full analysis of Keurig Dr Pepper’s results here and Constellation Brands’s results here.
There has been positive sentiment among investors in the beverages, alcohol, and tobacco segment, with share prices up 4% on average over the last month. Altria is up 1% during the same time and is heading into earnings with an average analyst price target of $65.58 (compared to the current share price of $67.71).
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