Altria(US:MO)2025-01-30 14:10Financial Performance - Altria's adjusted diluted Earnings Per Share (EPS) increased by 34% from $495 in FY 2023 to $512 in FY 2024[7] - The company returned $102 billion in cash to shareholders[7] - Smokeable Products Segment adjusted Operating Companies Income (OCI) increased by 20% to $10922 million for the full year 2024[53] - Oral Tobacco Products Segment adjusted OCI increased by 130% to $461 million in Q4 2024[74] Market Trends and Volume - The nicotine space is experiencing growth, with an estimated volume of 172 billion equivalized cigarette packs in 2024[12] - Combustible cigarette volume continues to decline, while e-vapor shows significant growth with a CAGR of approximately 45%[12] - Illicit products are driving e-vapor category growth, with disposable e-vapor forms estimated at ~170 billion equivalized cigarette packs and all other forms at ~200 billion in 2024[15] - The oral tobacco industry volume grew by 15% in the six months ended in 2024[37] NJOY and on! Performance - NJOY shipment volume for consumables reached 128 million in Q4 2024, a 222% increase compared to Q4 2023[31] - NJOY consumables retail share reached 64% in total US in Q4 2024, a 28 percentage points increase[31] - on! shipment volume reached 439 million cans in Q4 2024, a 444% increase compared to Q4 2023[37] - on! share of the oral tobacco category reached 89% in Q4 2024, a 20 percentage points increase[40] Outlook and Challenges - The company expects full-year 2025 adjusted diluted EPS of $522 to $537, representing a growth rate of 2% to 5% from a 2024 base of $512[50] - Illicit markets compromise the company's ability to achieve its 2028 US Smoke-Free Volume and Smoke-Free Revenue goals[23]