RTTNews | Jan 28, 2021 07:21AM EST

07:20 Thursday, January 28, 2021 (RTTNews.com) - While reporting its financial results for the fourth quarter on Thursday, Altria Group, Inc. (MO) initiated its adjusted earnings guidance for the full-year 2021, just below analysts' expectations.

For fiscal 2021, Altria now projects adjusted earnings in a range of $4.49 to $4.62, representing a growth rate of 3 to 6 percent from an adjusted earnings base of $4.36 per share in 2020.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.63 per share for the year. Analysts' estimates typically exclude special items.

Altria also expects 2021 capital expenditures to be between $200 million and $250 million and depreciation and amortization expenses of approximately $250 million.

On Wednesday, Altria's Board authorized a new $2 billion share repurchase program, which Altria expects to complete by June 30, 2022.

"Our plans for the year ahead include accelerating investments in support of our 10-year Vision, which we expect to fund through the continued financial strength of our tobacco businesses," said Billy Gifford, Altria's Chief Executive Officer.

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