Altria Group Inc (MO) released its first quarter results on Thursday, April 29, 2021. The company reported net earnings of $0.77 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 8 percent compared to the same period a year ago.
Altria Group, Inc. was founded in 1822 and is headquartered in Richmond, Virginia. Altria Group, Inc., through its subsidiaries, manufactures and sells cigarettes, oral tobacco products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.
Altria Group's revenue increased 1 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 86.78% for the first quarter compared to the same period in the previous year, and operating margins increased to 74.28% over the same period. Net earnings for past trailing twelve months were $4330.0 million, up 593% from the prior year.
Moving on to the balance sheet, Altria Group’s cash levels jumped 3% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 12.82% this past year. The current ratio for Altria Group now stands at 0.8. The company decreased shares outstanding by 0.35%.
Shares of MO are currently trading around $47.75. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 20.5 and price to book ratio of 30.44.