Altria Group, Inc. (Altria) (NYSE: MO) is participating in the Consumer Analyst Group of New York (CAGNY) conference in Boca Raton, Florida today. The presentation will be webcast live at altria.com in a listen-only mode, beginning at approximately 9:15 a.m. Eastern Time.
During today’s presentation, Michael E. Szymanczyk, Chairman and Chief Executive Officer, and other members of Altria’s senior management team will discuss why Altria remains a compelling investment and review Altria’s plans to continue delivering strong returns to its shareholders.
2012 Full-Year Guidance
Altria reaffirms its 2012 full-year guidance for reported diluted earnings per share (EPS) in the range of $2.14 to $2.20. The forecast includes estimated charges of $0.03 per share related to asset impairment, exit and implementation costs primarily related to the cost reduction program announced in October 2011, and estimated charges related to SABMiller special items.Altria reaffirms that its 2012 full-year adjusted diluted EPS guidance, which excludes special items that are listed below in Table 1, will be in the range of $2.17 to $2.23, representing a growth rate of 6% to 9% from an adjusted base of $2.05 per share in 2011. The factors described in the Forward-Looking and Cautionary Statements section of this release represent continuing risks to this forecast. Reconciliations of full-year adjusted to reported diluted EPS are shown in Table 1 below. Webcast Replay A copy of today’s presentation and prepared remarks, as well as a replay of the audio webcast of the remarks, will be available at altria.com until 5:00 p.m. Eastern Time on Friday, March 23, 2012. Financial Measures Altria reports its consolidated financial results in accordance with U.S. generally accepted accounting principles (GAAP). This press release contains 2011 results and 2012 guidance for diluted EPS on both a reported basis and on an adjusted basis, which excludes items that affect the comparability of reported results. Reconciliations of full-year adjusted to reported diluted EPS are shown in Table 1 below.
|Table 1 - Altria’s Full-Year Earnings Per Share Guidance Excluding Special Items|
|Reported diluted EPS||$2.14 to $2.20||$ 1.64||30% to 34%|
Asset impairment, exit, integration and implementation costs
|SABMiller special items||0.01||0.03|
|PMCC leveraged lease charge||-||0.30|
|Tobacco and health judgments||-||0.05|
|Adjusted diluted EPS||$2.17 to $2.23||$ 2.05||6% to 9%|