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Actionable news in MO: ALTRIA GROUP Inc,

Altria Group, Inc. Earnings Press Release, Dated October 29, 2015 Exhibit

The following excerpt is from the company's SEC filing.

Exhibit 99.1

ALTRIA REPORTS 2015 THIRD-QUARTER AND NINE-MONTH RESULTS;

REAFFIRMS 2015 FULL-YEAR ADJUSTED EPS GUIDANCE

Altria’s 2015 third-quarter reported diluted earnings per share (EPS) increased 9.9% to $0.78, as comparisons were affected by special items.

Altria’s 2015 third-quarter adjusted diluted EPS, which excludes the impact of special items, increased 8.7% to $0.75.

Altria’s 2015 nine-month reported diluted EPS increased 5.2% to $2.03, as comparisons were affected by special items.

Altria’s 2015 nine-month adjusted diluted EPS, which excludes the impact of speci al items, increased 11.5% to $2.13.

Altria reaffirms its guidance for 2015 full-year adjusted diluted EPS to be in a range of $2.76 to $2.81, representing a growth rate of 7.5% to 9.5% from an adjusted diluted EPS base of $2.57 in 2014.

RICHMOND, Va. - October 29, 2015 - Altria Group, Inc. (Altria) (NYSE: MO) today announced its 2015 third-quarter and nine-month business results and reaffirmed its guidance for 2015 full-year adjusted diluted EPS.

“Altria continued to deliver outstanding performance in the third quarter and for the first nine months. Once again, our businesses strengthened their market leadership, with strong income growth and solid retail share gains by the iconic

Marlboro

Copenhagen

brands,” said Marty Barrington, Altria’s Chairman, Chief Executive Officer and President. “We believe our year-to-date adjusted EPS growth of 11.5% positions us well to deliver on our full-year plans. In addition, we’re pleased Anheuser-Busch InBev and SABMiller continue to work together to finalize terms in advance of their possible combination. We see this transaction, and our participation in it as SABMiller’s largest shareholder, as a compelling opportunity to strengthen for our shareholders our position in the global brewing business.”

Conference Call

As previously announced, a conference call with the investment community and news media will be webcast on October 29, 2015 at 9:00 a.m. Eastern Time.

Access to the webcast is available at www.altria.com/webcasts and via the Altria Investor app.

6601 West Broad Street, Richmond VA 23230

Cash Returns to Shareholders - Dividends and Share Repurchase Program

In August 2015, Altria’s Board of Directors (Board) increased the regular quarterly dividend by 8.7% to $0.565 per share. The current annualized dividend rate is $2.26 per share. As of October 23, 2015, Altria’s annualized dividend yield was 3.7%. Altria paid over $1 billion in dividends in the third quarter and approximately $3.1 billion for the first nine months of 2015. Altria expects to continue to return a large amount of cash to shareholders in the form of dividends by maintaining a dividend payout ratio target of approximately 80% of its adjusted diluted EPS. Future dividend payments remain subject to the discretion of the Board.

As previously announced, Altria repurchased 1.2 million shares for a total of $63 million during the third quarter of 2015, completing its previous share repurchase program. The Board authorized a new $1 billion share repurchase program, which the company expects to complete by the end of 2016. The timing of share repurchases depends upon marketplace conditions and other factors. This program remains subject to the discretion of the Board.

Innovative Tobacco Products

Nu Mark LLC (Nu Mark) expanded distribution of

MarkTen

XL e-vapor products and also continued to evaluate the retail positioning of

Green Smoke

e-vapor products through several lead markets. Additionally, Nu Mark continued working with Philip Morris International Inc. to make progress on research, product development and technology-sharing for e-vapor products as a result of the joint agreement announced in July.

Anheuser-Busch InBev’s Proposed Business Combination with SABMiller

On October 13, 2015, Anheuser-Busch InBev SA/NV (AB InBev) and SABMiller plc (SABMiller) jointly announced an agreement in principle on key terms regarding a possible recommended offer for AB InBev to effect a business combination with SABMiller. On October 28, 2015, the U.K. Takeover Panel extended the relevant takeover code deadline until November 4, 2015 to enable AB InBev and SABMiller to continue to address all the details necessary for AB InBev to deliver a firm offer.

2015 Full-Year Guidance

Altria reaffirms its guidance for 2015 full-year adjusted diluted EPS, which excludes the special items recorded for the first nine months of 2015 as shown in Table 2, to be in a range of $2.76 to $2.81. This range represents a growth rate of 7.5% to 9.5% from an adjusted diluted EPS base of $2.57 in 2014, as shown in Table 1 below.

Altria expects moderated adjusted diluted EPS results in the fourth quarter of 2015 versus the prior year due to several factors. These include lapping the benefit received from the expiration of federal tobacco quota buy-out payments; lapping some of the effects of a stronger economy and lower gasoline

prices; and a higher effective tax rate on operations. Additionally, trade inventories for cigarettes may moderate moving forward and unfavorable foreign currency translation could affect prior-year comparisons of earnings from Altria’s equity investment in SABMiller. Altria expects its 2015 full-year effective tax rate on operations will be 35.3%.

The factors described in the Forward-Looking and Cautionary Statements section of this release represent continuing risks to Altria’s forecast.

Table 1 - Altria’s 2014 Adjusted Results

Full Year

Reported diluted EPS

NPM Adjustment Items

Asset impairment, exit, integration and acquisition-related costs

Tobacco and health litigation items

SABMiller special items

Loss on early extinguishment of debt

Tax items

Adjusted diluted EPS

ALTRIA GROUP, INC.

Altria reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Altria’s management reviews operating companies income (OCI), which is defined as operating income before general corporate expenses and amortization of intangibles, to evaluate the performance of, and allocate resources to, the segments. Altria’s management also reviews OCI, operating margins and diluted EPS on an adjusted basis,

which excludes certain income and expense items that management believes are not part of underlying operations. These items may include, for example, loss on early extinguishment of debt, restructuring charges, SABMiller special items, certain tax items, charges associated with tobacco and health litigation items, and settlements of, and determinations made in connection with, certain non-participating manufacturer (NPM) adjustment disputes (such settlements and determinations are referred to collectively as NPM Adjustment Items). Altria’s management does not view any of these special items to be part of Altria’s sustainable results as they may be highly variable, are difficult to predict and can distort underlying business trends and results. Altria’s management also reviews income tax rates on an adjusted basis. Altria’s effective tax rate on operations may exclude certain tax items from its reported effective tax rate. Altria’s management believes that adjusted financial measures provide useful insight into underlying business trends and results and provide a more meaningful comparison of year-over-year results. Altria’s management uses adjusted financial measures for planning, forecasting and evaluating business and financial performance, including

allocating resources and evaluating results relative to employee compensation targets. These adjusted financial measures are not consistent with GAAP, and should thus be considered as supplemental in nature and not considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP. Reconciliations of historical adjusted financial measures to corresponding GAAP measures are provided in this release.

Altria’s full-year adjusted diluted EPS guidance and full-year forecast for its effective tax rate on operations exclude the impact of certain income and expense items, including those items noted in the preceding paragraph. Altria’s management cannot estimate on a forward-looking basis the impact of these items on its reported diluted EPS and its reported effective tax rate because these items, which could be significant, are difficult to predict and may be highly variable. As a result, Altria does not provide a corresponding GAAP measure for, or reconciliation to, its adjusted diluted EPS guidance or its forecast for its effective tax rate on operations.

Altria’s reportable segments are smokeable products, manufactured and sold by Philip Morris USA Inc. (PM USA) and John Middleton Co. (Middleton); smokeless products, substantially all of which are manufactured and sold by U.S. Smokeless Tobacco Company LLC (USSTC); and wine, produced and/or distributed by Ste. Michelle Wine Estates Ltd. (Ste. Michelle).

Comparisons are to the corresponding prior-year period unless otherwise stated.

Altria’s net revenues increased 3.2% to $6.7 billion in the third quarter and 4.7% to $19.1 billion for the first nine months of 2015, reflecting higher net revenues in all reportable segments. Altria’s revenues net of excise taxes increased 4.7% to $5.0 billion in the third quarter and 5.9% to $14.1 billion for the first nine months of 2015.

Altria’s 2015 third-quarter reported diluted EPS increased 9.9% to $0.78, primarily driven by higher reported OCI in the smokeable products segment, lower investment spending in innovative tobacco products and a lower reported tax rate, partially offset by lower earnings from Altria’s equity investment in SABMiller. Altria’s third-quarter adjusted diluted EPS, which excludes the special items shown in Table 2, grew 8.7% to $0.75.

Altria’s 2015 nine-month reported diluted EPS increased 5.2% to $2.03, primarily driven by higher reported OCI in the smokeable products segment and fewer shares outstanding, partially offset by the loss on early extinguishment of debt and lower earnings from Altria’s equity investment in SABMiller. Altria’s nine-month adjusted diluted EPS, which excludes the special items shown in Table 2, grew 11.5% to $2.13, primarily driven by higher adjusted OCI in the smokeable and smokeless products segments, fewer shares outstanding and lower interest and other debt expense...


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