Altria Group, Inc. (MO) reported that its third-quarter net earnings attributable to company increased 9.4 percent to $1.53 billion from $1.40 billion, last year. Reported EPS increased 9.9% to $0.78, primarily driven by higher reported OCI in the smokeable products segment, lower investment spending in innovative tobacco products and a lower reported tax rate, partially offset by lower earnings from Altria's equity investment in SABMiller.
Altria's third-quarter adjusted EPS grew 8.7% to $0.75. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.75 for the quarter. Analysts' estimates typically exclude special items.
Altria's net revenues increased 3.2% to $6.7 billion in the third quarter, reflecting higher net revenues in all reportable segments. Altria's revenues net of excise taxes increased 4.7% to $5.0 billion in the third quarter. Analysts expected revenue of $4.90 billion for the quarter.
Looking forward, Altria Group reaffirmed its guidance for 2015 full-year adjusted EPS. The company continues to expect 2015 adjusted EPS to be in a range of $2.76 to $2.81. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.82. Altria said it expects moderated adjusted EPS results in the fourth quarter of 2015 versus the prior year.
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