Altria Q3: Earnings Beat, NJOY Gains Ground, But Marlboro Loses Share In Shrinking Market

Altria Group (NYSE:MO) shares are trading higher on Thursday.

The company reported third-quarter adjusted earnings per share of $1.38, beating the street view of $1.35. Quarterly sales of $5.334 billion (+1.3%) beat the analyst consensus estimate of $5.326 billion.

Smokeable products segment reported domestic cigarette shipment volume decreased 8.6%, primarily due to the industry’s decline rate and retail share losses, partially offset by trade inventory movements and calendar differences. Marlboro shipment volume fell 7.5% in the quarter.

Also, Marlboro retail share of the total cigarette category was 41.7%, down 0.6 share points versus the prior year and 0.3 share points sequentially.

NJOY reported a 15.6% increase in consumables shipment volume to 10.4 million units and a 100% rise in device shipments to 1.1 million units. ...