Altria Group Inc. said its first-quarter normalized net income came to 58 cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.
EPS climbed year over year from 57 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.15 billion, a gain from $1.13 billion in the prior-year period.
The normalized profit margin declined to 26.8% from 28.2% in the year-earlier period.
Total revenue climbed 6.6% on an annual basis to $4.27 billion from $4.01 billion, and total operating expenses grew year over year to $2.36 billion from $2.27 billion.
Reported net income decreased 13.3% on an annual basis to $1.02 billion, or 52 cents per share, from $1.17 billion, or 59 cents per share.
