Altria Unveils $1 Billion Stock Buyback as Earnings Top Estimates

Marlboro maker

Altria

Group beat earnings and revenue estimates in the fourth quarter and announced a new $1 billion share buyback plan.

The cigarettes company reported adjusted earnings per share (EPS) of $1.18, narrowly beating analysts’ expectations of $1.17, according to FactSet data. Revenue fell 2.3% to $6.11 billion but convincingly beat estimates for $5.15 billion.