News Summary: Marlboro maker Altria 1Q profit up

News Summary: Marlboro maker Altria's 1Q profit up about 16 pct on pricing, lower legal costs

Associated Press

THE RESULTS: Marlboro maker Altria Group Inc.'s first-quarter profit rose about 16 percent to $1.38 billion as it commanded higher prices for its cigarettes and smokeless tobacco products and it benefited from adjustments to a longstanding legal settlement. Revenue, excluding excise taxes, decreased slightly to $3.97 billion.

CIGARETTES: Altria sold 29.7 billion cigarettes, 5 percent fewer than a year ago. Volumes for discount cigarette brands like L&M increased nearly 6 percent, Marlboro volumes fell more than 5 percent.

OTHER TOBACCO: Volumes of its smokeless tobacco brands such as Copenhagen and Skoal rose about 3 percent and volumes for its Black & Mild cigars fell nearly 17 percent.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You