Altria Q1 2023 Earnings Report
Key Takeaways
Altria Group, Inc. reported its 2023 first-quarter business results and reaffirmed its guidance for 2023 full-year adjusted diluted earnings per share (EPS). The company delivered strong adjusted diluted EPS growth of 5.4%.
Net revenues decreased by 2.9% to $5.7 billion.
Adjusted diluted EPS increased by 5.4% to $1.18.
The company reaffirmed its guidance to deliver 2023 full-year adjusted diluted EPS in a range of $4.98 to $5.13.
The company paid dividends of $1.7 billion in the first quarter.
Altria
Altria
Altria Revenue by Segment
Forward Guidance
Altria reaffirms its guidance to deliver 2023 full-year adjusted diluted EPS in a range of $4.98 to $5.13, representing a growth rate of 3% to 6% from an adjusted diluted EPS base of $4.84 in 2022.
Positive Outlook
- Continued smoke-free product research
- Development and regulatory preparation expenses
- Enhancement of our digital consumer engagement system
- Marketplace activities in support of our smoke-free products
- Lower expected net periodic benefit income due to market factors
Challenges Ahead
- Conditions related to the economy, including the impact of high inflation, rising interest rates and global supply chain disruptions
- ATC dynamics, including disposable income, purchasing patterns and adoption of smoke-free products
- Regulatory and legislative developments
- Higher interest rates
- The impact of the 2022 completion of the wind-down of our former financial services business
Revenue & Expenses
Visualization of income flow from segment revenue to net income