Altria Group (MO) stock fell after Q2 earnings missed estimates. Inflation and rising costs pushed smokers away from premium Marlboros toward discount brands.
Altria Group, Inc.
(NYSE:MO) stock slid on Thursday after the company's mixed quarterly results.
Inflationary pressure and weaker discretionary spending pushed some smokers toward cheaper cigarette options, weighing on premium brands such as Marlboro. • Altria Group stock is taking a hit today.
What's pressuring MO stock?.
Quarterly Details The company reported second-quarter adjusted earnings per share of $1.48, missing the analyst consensus estimate of $1.50.
Altria Group Down Over 9%, on Pace for Largest Percent Decrease Since June 2022 — Data Talk
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