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Altria (NYSE: MO) slips after the first quarter results below expectations.
The 14.3% year-on-year decline in the volume of cigarettes was highlighted in the report. The volume of cigars rose by 1.1% for the quarter.
The company sees an EPS of $ 4.15 to $ 4.27 against $ 4.22. By examining the entire industry, Altria lowers its estimate of total volume growth of the domestic cigarette industry over an entire year in the range of -4% to -5%, mainly due to the higher prices for gasoline and other factors that, according to the company, have had an impact on the adult tobacco consumer behavior in Q1.
Altria shares are down 5.22% in action before marketing. The peer Philip Morris International (NYSE: PM) is down 1.44%.
Previously: Altria misses $ 0.03, lack of revenue (April 25)
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