Altria, which sells Marlboro cigarettes, beat Wall Street's revenue expectations but fell short of adjusted earnings expectations. The company expects cigarette volumes in the U.S. to decline between 5% and 6% this year, a steeper decline than the previously guided range of 4% to 6%.
Altria sells Marlboro cigarettes in the U.S.
Altria sells Marlboro, the largest cigarette brand in the U.S. Shares of the company were flat in premarket trading. The company affirmed its full-year forecast of adjusted earnings in the range of $4.15 to $4.27. But Altria now expects cigarette volumes in the U.S. to decline between 5% and 6% this year, which the company attributes to cigarette smokers switching to e-cigarettes. The company previously forecast volumes to fall between 4% to 6%.
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