Altria Group Inc. (NYSE: MO) reported its fourth-quarter financial results before the markets opened on Wednesday. The company said that it had $0.68 in earnings per share (EPS) and $6.25 billion in revenue (adjusted revenues, which excludes excise taxes, fell to $3.98 billion). The consensus estimates from Thomson Reuters were $0.67 in EPS and revenue of $4.8 billion. In the same period of last year, it posted EPS of $0.67 and $4.73 billion in revenue.

In terms of guidance for the 2017 full year, Altria expects to see EPS in the range of $3.26 to $3.32 and capital expenditures between $180 million and $220 million. The consensus estimates call for $3.33 in EPS and $19.81 billion in revenue.

The smokeable products segment grew income in the fourth quarter despite tough 2015 full-year comparisons. This segment’s net revenues decreased by 1.9% to $5.45 billion.

The smokeless products segment recorded strong income growth and grew Copenhagen and Skoal’s combined retail share for the full year of 2016. Net revenues increased 7.2% to $521 billion.

In the wine segment, Ste. Michelle grew net revenues by 7.4% in the fourth quarter to $248 billion.

Last month, Altria acquired privately held Sherman Group Holdings, and its subsidiaries including Nat Sherman, which sells super-premium cigarettes and premium cigars.

Marty Barrington, board chair, chief executive and president of Altria, commented:

Altria had another outstanding year. We grew our earnings in line with our long-term objectives while returning a large amount of cash to shareholders, improving our balance sheet and strengthening our organizational capability, thus positioning Altria to continue to deliver on our long-term financial goals. In 2016, Altria’s total return to shareholders of 20.5% outpaced both the S&P 500 and the S&P Food, Beverage and Tobacco Index, marking the fourth consecutive year that total shareholder return exceeded 20%.

On the books, Altria’s cash and cash equivalents totaled $4.57 billion at the end of the quarter, up from $2.37 billion at the end of the previous fiscal year.

Shares of Altria closed Tuesday at $71.18, with a consensus analyst price target of $70.18 and a 52-week trading range of $58.84 to $71.44. Following the earnings report, the stock was down about 1.5% at $70.11 in early trading indications Wednesday.

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