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Turning Point Brands named a new CEO and cut its full-year outlook on Monday. Altria Group shares dropped 1.4%, and Philip Morris International stock fell 1% on the news. London-traded British American Tobacco shares declined 0.5%.
With inflation still biting into real yields and Q3 cash flow season approaching fast, five income stalwarts stand out as the dividend payers retirees keep reaching for when the calendar turns to fall.
MO's second-quarter earnings miss estimates as cigarette shipments fall, though higher pricing lifted smokeable products revenues and supported profit growth.
Altria Group Inc. (NYSE:MO) shares fell nearly 4% after the tobacco company reported second-quarter earnings that came in slightly below Wall Street expectations, despite revenue exceeding forecasts.
Altria Group had virtually flat revenue and lower profit in the second quarter, as lower sales of its nicotine pouches offset some of the growth in its cigarettes business.
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