American tobacco company Altria Group (MO) is scheduled to announce its 2Q17 earnings before the market opens on July 27, 2017. The company’s stock price has risen 3.6% since the announcement of its 1Q17 earnings on May 2, 2017.
In 2Q17, Altria posted adjusted EPS (earnings per share) of $0.73 on net revenue of $4.59 billion. Analysts had forecast the company to post EPS of $0.74 on revenue of $4.63 billion. Although Altria’s 1Q17 earnings were lower than expected, the company’s stock price rose on the FDA announcing that it has launched a substantive review of a modified risk tobacco product application submitted by Philip Morris International (PM) in association with Altria. On approval, Altria would receive exclusive rights to market the product in the United States. For more on Altria’s 1Q17 performance, read Altria Missed Its 1Q17 Estimates Due to a Product Recall.
With Altria’s 2Q17 earnings around the corner, we’ll look at analysts’ expectations for the quarter. We’ll also cover management’s 2017 guidance and analysts’ revenue and EPS guidance for the next four quarters. Finally, we ‘ll look at Altria’s valuation multiple and analysts’ recommendations. First, let’s start by looking at Altria’s revenue estimates.