Altria(US:MO) Zhi Tong Cai Jing·2025-10-30 15:27Core Viewpoint - Altria (MO.US) experienced a decline of over 7% on Thursday, retreating 14% from its historical high in August, currently trading at $57.07. The company's Q3 adjusted EPS was $1.45, a 4% increase from $1.40 last year, aligning with market consensus. However, net revenue fell by 1.7% to $5.25 billion, missing market expectations by $50 million due to high prices not fully offsetting a decline in sales volume, with combustible product sales down 8.0% and oral tobacco product sales down 9.6% [1]. Financial Performance - Q3 adjusted EPS was $1.45, up from $1.40 year-over-year, indicating a 4% growth [1]. - Net revenue decreased by 1.7% to $5.25 billion, falling short of market expectations by $50 million [1]. - Sales volume for combustible products declined by 8.0%, while oral tobacco product sales fell by 9.6% [1]. Guidance and Future Outlook - The company raised its full-year adjusted EPS guidance from $5.35-$5.45 to $5.37-$5.45, suggesting a Q4 adjusted EPS of $1.25-$1.33, compared to the current market consensus of $1.33 [1]. - Management indicated that due to an accelerated stock buyback plan in 2024 and the diminishing benefits from the "Master Settlement Agreement" legal fund expiration, Q4 growth is expected to slow down [1].