Altria Group, Inc. (NYSE:MO) shares are trading higher on Thursday as the firm lit up the first quarter with strong pricing power and steady demand in its core smokeable business.
Marlboro’s grip on the premium segment held firm, even as shifting nicotine trends and macro pressure linger.
• Altria Group stock is at critical resistance. What’s driving MO to record levels?
Quarterly Details
The company reported first-quarter adjusted earnings per share of $1.32, beating the analyst consensus estimate of $1.25. Quarterly sales of $5.428 billion (+3.2% year over year) outpaced the Street view of $4.576 billion.
“Our smokeable …