Altria Can Still Overcome Muted Expectations in Q2
The market seems to be taking a wait-and-see approach to Altria (NYSE: MO) as it heads into earnings next week. The stock is down 14% over the past year, compared with a better than 5% gain for the S&P 500, and though the cigarette maker has bounced well off its lows, Altria's shares have been slowly sliding over the last few months.
Investors may be wanting to see how sharply cigarette sales will slide when Altria reports its second-quarter results on Tuesday, July 30. The industry has fallen faster over the past few years, and the tobacco giant has already enacted two price increases this year, indicating it may take a rare third price increase (or more) later on.
Image source: Philip Morris International.
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