Altria’s First-Quarter 2024 Earnings Conference Call April 25, 2024 ...

Financial Data and Key Metrics Changes - First quarter adjusted diluted earnings per share (EPS) declined by 2.5% compared to the previous year [20] - The company reaffirmed its full year adjusted diluted EPS guidance in the range of $5.05 to $5.17, representing a growth rate of 2% to 4.5% from a base of $4.95 in 2023 [19][20] - Adjusted operating companies income for the smokeable products segment was over $2.4 billion, with a net price realization of 8.5% [21] Business Line Data and Key Metrics Changes - The smokeable products segment reported a 10% decline in adjusted cigarette volumes, while industry volumes declined by an estimated 9% [22] - The oral tobacco products segment saw adjusted operating companies income grow by 4.6%, with adjusted OCI margins expanding by 0.2 percentage points to 69.5% [24] - NJOY's retail share of consumables grew by 4.3 share points in the quarter, up 0.6 share points sequentially [10] Market Data and Key Metrics Changes - The oral nicotine pouches category grew 13.8 share points year-over-year, now representing over 40% of the oral tobacco category [17] - The e-vapor category continued to grow, primarily driven by illicit disposable products [45] - The discount segment in the cigarette market grew by 0.8 share points, reflecting macroeconomic pressures on adult smokers [22] Company Strategy and Development Direction - The company is focused on maximizing profitability while making appropriate investments in both traditional and innovative tobacco products [33][62] - There is a commitment to addressing the challenges posed by illicit products through engagement with regulators and stakeholders [14][15] - The company plans to broaden awareness and grow brand affinity for NJOY through improved retail positioning and marketing campaigns [13] Management's Comments on Operating Environment and Future Outlook - Management noted that the economic strain on consumers is impacting discretionary spending, which is a concern for the tobacco market [34][69] - The company expressed confidence in its ability to manage costs and maintain profitability despite industry challenges [38] - Management highlighted the need for a more effective regulatory environment to combat illicit products and support harm reduction efforts [17][45] Other Important Information - The company sold a portion of its investment in ABI and expanded its share repurchase program to $3.4 billion [25] - Adjusted equity earnings from ABI were recorded at $165 million, down 8.3% [26] - The company paid approximately $1.7 billion in dividends and retired $1.1 billion of notes that came due in the first quarter [25] Q&A Session Summary Question: About the modest raise to full year guidance following the ABI share sale - Management expressed confidence in core businesses and flexibility to manage overall business and investments behind innovative products [31] Question: Sustainability of the strategy to maximize operating profit - Management affirmed the strategy is to maximize long-term profitability while making appropriate investments [33] Question: Drivers of increased controllable costs in smokeable products - Management explained that higher costs were due to accounting adjustments and inventory revaluation, which are expected to moderate [37][38] Question: Expectations for improved dollar profit growth in smokeable products - Management indicated confidence in margin growth and performance of the smokeable segment moving forward [40] Question: Concerns about price gaps and down trading pressures - Management acknowledged the challenges but emphasized the strength of the Marlboro brand and the effectiveness of their pricing strategy [42] Question: Industry volume decline impact on EPS outlook - Management stated they run various scenarios and feel confident about their guidance despite industry volume challenges [45] Question: Growth of the vapor category and its impact on cigarette volumes - Management noted that the e-vapor category is growing, primarily from illicit products, impacting cigarette volumes negatively [45] Question: Share performance in oral tobacco and strategy moving forward - Management emphasized the strategy to maximize profitability while investing in both Copenhagen and on! products [62]

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Altria (MO) came out with quarterly earnings of $1.15 per share, missing the Zacks Consensus Estimate of $1.16 per share. This compares to earnings of $1.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.86%. A quarter ago, it was expected that this owner of Philip Morris USA, the nation's largest cigarette maker would post earnings of $1.17 per share when it actually produced earnings of $1.18, delivering a surprise of 0. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-08940 Altria Group, Inc. (Exact name of registrant as specified in its charter) Virginia 13-3260245 (State or other jurisdiction o ...

Exhibit 99.1 ALTRIA REPORTS 2024 FIRST-QUARTER RESULTS; REAFFIRMS FULL-YEAR GUIDANCE RICHMOND, Va. - April 25, 2024 - Altria Group, Inc. (NYSE: MO) today reports our 2024 first-quarter business results and reaffirms our guidance for 2024 full-year adjusted diluted earnings per share (EPS). “We made meaningful progress in pursuit of our Vision, and our highly profitable traditional tobacco businesses continued to perform well in a challenging environment,” said Billy Gifford, Altria’s Chief Executive Officer ...

As Altria Group, Inc. (MO) prepares to unveil its first-quarter 2024 earnings on Apr 25, investors are keenly observing the company's performance amidst a challenging landscape. With a projected decline in both top and bottom-line figures, the upcoming earnings release prompts a critical question: Should you buy Altria ahead of this event?The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $4.7 billion, suggesting a drop of 1.1% from the prior year’s levels, however, indicati ...

A tax refund is your money, not the government's. Put those funds to good use.Tax refund day is the most wonderful time of the year for some. It's not every day that cash appears in your bank account, seemingly by magic. According to the Internal Revenue Service, or IRS, this year's average refund so far has been $3,011.I know -- it's tempting to spend that money and splurge to treat yourself. But consider this before booking that vacation you've been waiting for: A tax refund isn't free money. It's wages y ...

The company hasn't declared a dividend payout raise this year, but after bumping it up 54 years in a row, investors can look forward to further gains.Cigarette smoking has been in decline for decades, but that hasn't stopped Altria Group (MO 1.91%) from making heaps of dividend payments to satisfied shareholders. The company behind the leading Marlboro brand raised its quarterly payout 58 times over the past 54 years.In 2023, Altria distributed about $6.8 billion worth of dividend payments. The stock offers ...

You don't have to be rich to get your money to start working for you.If you're looking for dividend-paying stocks among members of the S&P 500, finding a yield high enough to inspire a purchase can be extra challenging these days. The average dividend-paying stock in the benchmark index offers a paltry 1.39% yield.If you have just $100 available to invest, you could buy shares of both Altria Group (MO 1.91%), and AT&T (T 1.10%). These S&P 500 stocks offer yields above 6% right now. When it comes to eye-popp ...