From RTTNews:

Tobacco company Altria Group, Inc. reported weak profit in Q4 but expects higher adjusted earnings in fiscal 2024. The board of directors authorized a new $1 billion share repurchase program expected to complete by December 31, 2024. For fiscal 2024, the company projects adjusted earnings per share in a range of $5.00 to $5.15, representing a growth rate of 1% to 4% from a $4.95 base in 2023. Analysts expect earnings of $5.08 per share. The adjusted earnings growth in the year is expected to be weighted to the second half of the year. The company’s revenue for the quarter fell 2.1% to $5.98 billion from $6.11 billion last year. Altria shares were trading at $40.61, up 1.22% in pre-market activity on the NYSE.



Read more: Altria Group Sees Higher FY24 Earnings; To Buy Back $1 Bln Shares