Earnings Preview: Altria Group
Altria also owns a wine business, holds a voting stake in brewer SABMiller, and has a financial services division.
As the company anticipates volume declines in its core cigarette business, it's also cutting costs. After completing a $1.5 billion multi-year cost savings program last year, Altria rolled out a plan to cut $400 million in "cigarette-related infrastructure costs" by the end of 2013.
WHY IT MATTERS: Increased spending on premium brands like Marlboro could signal consumers are adjusting to paying more for cigarettes following federal and state tax increases.
WHAT'S EXPECTED: Analysts expect Altria to earn 55 cents per share on revenue of $4.35 billion, according to FactSet.LAST YEAR'S QUARTER: Altria reported adjusted net income of 50 cents per share on revenue of $4.34 billion. Figures for both periods exclude excise taxes the company passes through to the government. ___ Michael Felberbaum can be reached at http://www.twitter.com/MLFelberbaum .
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