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What Drove Altria’s EPS in Q2 2018?

Ralph Nathan
Updated
What Drove Altria’s EPS in Q2 2018?

Altria Group (MO) posted EPS of $0.99 in its second quarter. However, removing special items, the company’s adjusted EPS stood at $1.01, representing a rise of 18.8% YoY (year-over-year) from $0.85. This EPS growth was driven by a lower effective tax rate and the shares the company repurchased over the last four quarters partially offset by its lower operating income and increased investment in innovative tobacco products. The company’s cost of sales fell due to lower shipment volumes in the Smokable Products segment.

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