Altria, part of our Global Opportunities portfolio, reported earnings this morning in line with the consensus (via Bloomberg):
Altria Group Inc. (MO), the largest seller of tobacco in the U.S., said fourth-quarter profit rose 32 percent as it boosted Marlboro cigarette prices.
Net income increased to $1.1 billion, or 55 cents a share, from $836 million, or 41 cents, a year earlier, the Richmond, Virginia-based company said today in a statement. Analysts projected 55 cents, the average of 11 estimates compiled by Bloomberg.
Altria’s Philip Morris USA business raised prices on all cigarette brands by 6 cents a pack in December following a 6- cent increase in June. Marlboro’s share of U.S. smokers increased to 42.6 percent in the fourth quarter from 41.6 percent a year earlier after promotions spurred demand for new varieties of the top-selling U.S. cigarette brand.
Despite a secular trend toward less smoking, Altria continues to perform well.
For information on Alhambra Investment Partners’ money management services and global portfolio approach to capital preservation, Joe Calhoun can be reached at: jyc3@alhambrapartners.com or 
786-249-3773.
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