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Altria Raises Forecast on Tax Benefits

Altria raised its full-year guidance for reported earnings to a range of $1.83 to $1.87 a share, reflecting tax benefits.
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NEW YORK (TheStreet) -- Altria (MO) - Get Altria Group Inc Report raised its full-year guidance for reported earnings to a range of $1.83 to $1.87 a share from a range of $1.81 to $1.85, reflecting tax benefits.

The company also reaffirmed its full-year guidance for adjusted EPS in the range of $1.87 to $1.91, representing a projected growth rate of 7% to 9% from an adjusted base of $1.75 a share in 2009. The Wall Street consensus projection for full-year earnings is $1.89 a share.

Altria said third-quarter net earnings increased 28.2% to $1.13 billion, or 54 cents a share, from $882 million, or 48 cents, in the year-ago period. Net revenue rose 1.6% to $6.4 billion from $6.3 billion the previous year.

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