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Altria stock has fallen 1.5% so far in 2023 as of Tuesday’s close.
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Marlboro maker
Altria
Group beat earnings and revenue estimates in the fourth quarter and announced a new $1 billion share buyback plan.
The cigarettes company reported adjusted earnings per share (EPS) of $1.18 on revenue of $6.1 billion in the final three months of the year. Analysts expected EPS of $1.17 on sales of $5.15 billion in the quarter, according to FactSet data.
The stock, which has fallen 1.5% so far in 2023 as of Tuesday’s close, pointed 0.6% higher in premarket trading Wednesday.
In comparison, the S&P 500 has climbed 6.2% over the same period.
Write to Callum Keown at callum.keown@barrons.com
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