Altria Group (MO) has reported a 153.28 percent jump in profit for the quarter ended Dec. 31, 2014. The company has earned $1,236 million, or $0.63 a share in the quarter, compared with $488 million, or $0.24 a share for the same period last year. On an adjusted basis, earnings per share were at $0.66 for the quarter compared with $0.57 in the same period last year.
Revenue during the quarter went up marginally by 2.93 percent to $6,258 million from $6,080 million in the previous year period. Gross margin for the quarter expanded 237 basis points over the previous year period to 41.98 percent. Total expenses were 69.45 percent of quarterly revenues, down from 70.41 percent for the same period last year. This has led to an improvement of 96 basis points in operating margin to 30.55 percent.
Operating income for the quarter was $1,912 million, compared with $1,799 million in the previous year period.
"In 2014, Altria delivered another year of strong business results and excellent returns for shareholders," said Marty Barrington, Chairman and Chief Executive Officer of Altria. "We grew adjusted diluted EPS by almost 16% in the fourth quarter and by 8.0% for the full year, in line with our long-term EPS goal. We increased the dividend for the 48th time in 45 years. Altria also produced total shareholder return of 34.5%, well above returns for the S&P 500 and the Food, Beverage and Tobacco Index."
Working capital remains negative Working capital of Altria Group was negative $795 million on Dec. 31, 2014 compared with negative $468 million on Dec. 31, 2013. Current ratio was at 0.90 as on Dec. 31, 2014, down from 0.93 on Dec. 31, 2013.
Days inventory outstanding has increased to 26 days for the quarter compared with 24 days for the previous year period.
Debt moves up marginally
Altria Group has witnessed an increase in total debt over the last one year. It stood at $14,693 million as on Dec. 31, 2014, up 1.21 percent or $176 million from $14,517 million on Dec. 31, 2013. Total debt was 42.62 percent of total assets as on Dec. 31, 2014, compared with 41.64 percent on Dec. 31, 2013. Debt to equity ratio was at 4.88 as on Dec. 31, 2014, up from 3.53 as on Dec. 31, 2013.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
