ALTRIA REPORTS 2017 FOURTH-QUARTER AND FULL-YEAR RESULTS;
PROVIDES 2018 FULL-YEAR EARNINGS GUIDANCE
Altria’s 2017 fourth-quarter reported diluted earnings per share (EPS) decreased 50.7% to $2.60, as comparisons were affected by special items.
Altria’s 2017 fourth-quarter adjusted diluted EPS, which excludes the impact of special items, increased 33.8% to $0.91.
Altria’s 2017 full-year reported diluted EPS decreased 27.1% to $5.31, as comparisons were affected by special items.
Altria’s 2017 full-year adjusted diluted EPS, which excludes the impact of special items, increased 11.9% to $3.39.
Altria announces a new $1 billion share repurchase program to be completed by the end of 2018, having completed its prior $4 billion share repurchase program in January.
Altria’s Chairman and Chief Executive Officer Marty Barrington announces his decision to retire at the conclusion of the May 17, 2018 Annual Shareholder Meeting; Altria’s Board of Directors (Board) has elected Howard
Willard, 54, to serve as Chairman and Chief Executive Officer and Billy Gifford, 47, to serve as Vice Chairman and Chief Financial Officer.
RICHMOND, Va. - February 1, 2018 - Altria Group, Inc. (Altria) (NYSE: MO) today announced its 2017 fourth-quarter and full-year business results and provided its guidance for 2018 full-year adjusted diluted EPS.
“Altria had another strong year in 2017,” said Marty Barrington, Altria’s Chairman, Chief Executive Officer and President. “We delivered outstanding financial performance and continued to focus on rewarding our shareholders - paying out $4.8 billion in dividends, increasing our dividend by 8.2% and repurchasing more than $2.9 billion in shares. Our 2017 total shareholder return of 9.4% follows four consecutive years of returns exceeding 20%. Over this five-year period, our total shareholder return of 181% outperformed both the S&P 500 and S&P Food, Beverage and Tobacco Index by more than 70%.”
“That success was built on our core tobacco businesses, which delivered strong income growth and expanded their already high margins, despite a year with some unique challenges. Further, we acquired Nat Sherman to improve our smokeable segment’s position in the growing super-premium cigarette segment. We also accomplished several other important strategic initiatives for future success, including making significant progress toward our goal of becoming the U.S. leader in authorized, non-combustible reduced-risk products. And the passage of federal tax reform strengthens our financial capability to further invest in our businesses and reward our shareholders.”
“We thus are forecasting 2018 full-year adjusted diluted EPS growth in a range of 15% to 19%.”
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