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Altria Withdraws FY20 Outlook Amid COVID-19 - Quick Facts

While reporting its financial results for the first quarter on Thursday, Altria Group, Inc. (MO) said it is withdrawing its adjusted earnings guidance for the full-year 2020 and its 2020 - 2022 adjusted earnings growth objective, due to the uncertain COVID-19 impacts on its diverse business model.

However, Altria maintains its 2020 estimated full-year domestic cigarette industry adjusted decline rate to be in a range of 4 to 6 percent.

The company said it is continuing to assess the COVID-19 situation and intend to reestablish guidance at the appropriate time.

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