Altria (MO) to report earnings tomorrow: here is what to expect

Tobacco company Altria (NYSE:MO) will be reporting earnings this Thursday morning. Here’s what you need to know.

Altria met analysts’ revenue expectations last quarter, reporting revenues of $5.36 billion, up 1.2% year on year. It was a mixed quarter for the company, with a slight miss of analysts’ gross margin 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 1.7% decrease it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q3 results, giving us a hint as to what we can expect. Vita Coco delivered year-on-year revenue growth of 33.7%, beating analysts’ expectations by 6.1%, and Coca-Cola reported revenues up 7.6%, topping estimates by 3.7%. Vita Coco traded down 11% following the results.

Read our full analysis of Vita Coco’s results here and Coca-Cola’s results here.

There has been positive sentiment among investors in the beverages, alcohol, and tobacco segment, with share prices up 2.9% on average over the last month. Altria is up 6.2% during the same time and is heading into earnings with an average analyst price target of $70 (compared to the current share price of $73.44).

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