HENRICO COUNTY (dpa-AFX) - Altria Group Inc. (MO) on Wednesday raises its guidance for fiscal adjusted earnings per share to a range of $3.01 to $3.07, representing a growth rate of 7.5% to 9.5% from st year's $2.80 per share.
The previous guidance was adjusted earnings of $3.00 - $3.05 per share, representing a growth rate of 7% - 9%.
On average, 10 analysts polled by Thomson Reuters expect earnings of $3.06 per share for the year. Analysts' estimates typically exclude special items.
This guidance does not include any impact from the anticipated AB InBev/SABMiller business combination, as the transaction remains subject to certain approvals and the closing date has not yet been determined.
For the second quarter, Altria's attributable net earnings increased 14.2 percent to $1.65 billion from $1.45 billion last year. Earnings per share increased 13.5% to $0.84 from $0.74 last year. Adjusted earnings per share were $0.81.
Net revenues, meanwhile, declined 1.4 percent to $6.52 billion from $6.61 billion a year ago.
Analysts expected earnings of $0.80 per share and revenues of $5.01 billion for the quarter.
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