US Stock Market Move | Management expects the growth of Q4 performance to slow down. Altria Group, Inc. (MO.US) continues to fall by over 7%.

On Thursday, Altria Group, Inc. (MO.US) continued to decline by over 7%, pulling back 14% from its historical high in August, and now trading at $57.07. In terms of news, the company reported adjusted earnings per share (EPS) of $1.45 for the third quarter, compared to $1.40 from last year (a 4% year-on-year increase), in line with market expectations. Net revenue decreased by 1.7% to $5.25 billion (slightly below market expectations by $50 million) due to the inability of higher price realization to fully offset the impact of declining sales volume, with combustible product sales down by 8.0% and oral tobacco product sales down by 9.6%. MO company raised its full-year adjusted earnings per share guidance from $5.35-$5.45 to $5.37-$5.45, implying adjusted EPS for the fourth quarter of $1.25-$1.33, while current market consensus is at $1.33. Management pointed out that growth is expected to slow down in the fourth quarter as the benefits from the accelerated stock buyback plan in 2024 and the expiration of the Legal Settlement Fund under the Master Settlement Agreement will gradually diminish.