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Altria Group Q3 profit climbs YOY

Altria Group Inc. said its third-quarter normalized net income came to 71 cents per share, compared with the S&P Capital IQ consensus estimate of 76 cents per share.

EPS increased 5.3% year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.39 billion, an increase from $1.33 billion in the prior-year period.

The normalized profit margin fell to 27.8% from 27.9% in the year-earlier period.

Total revenue rose on an annual basis to $4.98 billion from $4.75 billion, and total operating expenses came to $2.74 billion, compared with $2.74 billion in the prior-year period.

Reported net income increased 8.9% year over year to $1.53 billion, or 78 cents per share, from $1.40 billion, or 71 cents per share.