Altria earnings for the first quarter of the year have MO stock taking a hit on Thursday.
Altria (NYSE:MO) starts off its earnings report for the first quarter of 2019 with earnings per share of 90 cents. That’s a drop from the company’s earnings per share of 95 cents from the same period of the year prior. It was also a blow to MO stock by missing Wall Street’s earnings per share estimate of 92 cents for the quarter.
Net income reported in the Altria earnings report for the first quarter of the year comes in at $1.12 billion. This is a decrease from the company’s net income of $1.90 billion reported in the first quarter of 2018.
Altria earnings for the first quarter of 2019 also includes operating income of $2.24 billion. The maker of tobacco and other related products reported operating income of $2.32 billion during the same time last year.
The most recent Altria earnings report also has revenue coming in at $5.63 billion for the period. Revenue reported by the company in the first quarter of the previous year was $6.11 billion. This has it beating out analysts’ revenue estimate of $4.59 billion for the period, but that couldn’t save MO stock from falling today.
The Altria earnings report also has the company reaffirming its guidance for the full year of 2019. It is still expecting earnings per share for the year to range from $4.15 to $4.27. Wall Street is looking for earnings per share of $4.19 for the year.
MO stock was down 6% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.