Altria Group 1Q profit tumbles but beats forecast, and revenue rises

RICHMOND, Va. — Cigarette sales dropped 8 percent and profit slipped at the nation’s largest tobacco maker, Altria Group Inc., as retailers and wholesalers cut their orders ahead of a one-time federal tax on their inventory, but the company’s overall revenue rose in the first quarter.

Altria Group 1Q profit falls 76 pct on items, adjusted results beat view

RICHMOND, Va. — Altria Group Inc., the nation’s biggest cigarette maker, said Wednesday its profit skidded 76 percent in the first quarter due to the spinoff of its international tobacco business, charges related to its purchase of UST and interest expenses.

Altria Group 1Q profit tumbles 76 pct on charges, interest expenses, adj. results beat view

NEW YORK — Altria Group Inc. said Wednesday acquisition charges and interest expenses outweighed strong cigar sales, leading the owner of the nation’s biggest cigarette maker to report a 76 percent drop in its first-quarter profit.

Altria Group 1st-quarter profit falls 76 percent on charges, higher interest expenses

RICHMOND, Va. — Altria Group, the owner of the nation’s biggest cigarette maker, says its first-quarter profit fell 76 percent because of acquisition charges and higher interest expenses.