May 22 2010

Altria Group In 2010

Published by at 7:30 am under Tobacco companies

Marlboro cigarettes mentholCigarette maker Altria Group Inc. reaffirmed its full-year outlook at its annual shareholder meeting ThursdayCEO Michael Szymanczyk told shareholders he was pleased the company had strong results and shareholder returns despite the tough operating environment.The Richmond-based owner of nation’s biggest cigarette maker, Philip Morris USA, is the manufacturer of well known Chesterfield cigarette brand and it  reaffirmed its fiscal 2010 guidance for adjusted earnings per share to range from $1.78 to $1.82.

The forecast includes estimated charges of about 7 cents per share related to one-time items including acquisitions and integration costs.

Without the items, the company expects to earn between $1.85 and $1.89 a share.Analysts expect the company to earn $1.87 in the fiscal year, according to Thomson Reuters. Their estimates typically exclude one-time items.The company said it expects the first half of the year to be more challenging because of federal excise tax-related pricing strategies from the prior year, and trade inventory.

Altria Group shares fell 41 1.9 percent to $20.90 in afternoon trading Thursday.

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