Altria (MO -0.4%) has slightly tweaked its 2014 EPS guidance range to $2.54-$2.59 from $2.52-$2.59; consensus is at $2.57.
The company has also announced a new $1B buyback to be finished by the end of 2015. $132M was spent on buybacks in Q2, leaving $53M remaining on a prior $1B program.
Smokeable products revenue (exc. taxes) +0.8% Y/Y to $4B, with higher prices offsetting a 4.8% drop in shipment volume (cigarettes -5%, cigars +11.1%). Division op. income (OCI) +3.6% to $1.8B.
Smokeless products revenue (exc. taxes) +0.7% to $428M, op. income +5.6% to $285M. Shipment volume +1.6%. Wine revenue +6.8% to $141M.
Altria (current dividend yield of 4.5%) expects to continue paying out ~80% of adjusted EPS through dividends.
Q2 results, PR