Altria's Lackluster Outlook Underscores New CEO Challenges
- Midpoint of new 2018 forecast range falls short of estimates
- Company shares drop as much as 3.6 percent in New York trading
This article is for subscribers only.
The pressure is on for Altria Group Inc.’s new chief executive officer to lower his company’s dependence on cigarettes.
Altria, which sells brands like Marlboro in the U.S. market, provided a new full-year forecast range that fell short of some analysts’ estimates after revenue and shipments of cigarettes declined last quarter. The shares dropped as much as 3.6 percent in New York on Thursday.