BUZZ-Altria dips after weak annual profit forecast on rising vape competition

Shares of Marlboro maker Altria MO.N down ~2% at $51.34 premarket

Co says its annual profit could be lower than analysts' estimates, citing rising competition for vape and consecutive declines in tobacco sales

Expects annual adj. earnings per share in the range of $5.22 to $5.37, midpoint of which is below analysts' estimates of $5.35 - data compiled by LSEG

Co's quarterly domestic cigarette shipment volume fell 8.8%, compared with 7.6% decline a year ago

However, posts Q4 revenue, net of excise taxes, of $5.15 bln vs estimates of $5.05 bln

Though quarterly adj. profit of $1.29 per share was in line with analysts' estimates, owing to rise in promotional expenses

MO rose nearly 30% in 2024