Altria Group Inc.
MO,
affirmed on Wednesday its 2020 financial guidance, ahead of the cigarette and smokeless tobacco products maker’s presentation at the Morgan Stanley Global Consumer and Retail Conference. The company expects adjusted earnings per share, which excludes non-recurring items, of $4.30 to $4.38, which surrounds the FactSet EPS consensus of $4.37. The company has beat quarterly earnings expectations the pat five quarters. The stock, which slipped 0.1% in premarket trading, has lost 18.9% year to date through Tuesday, while the SPDR Consumer Staples Select Sector ETF
XLP,
has gained 7.2% and the S&P 500
SPX,
has climbed 13.4%.