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Mar 31, 2024
Altria Q1 2024 Earnings Report
Altria's first-quarter 2024 results were reported and full-year guidance was reaffirmed.
Key Takeaways
Altria Group reported a decrease in net revenues by 2.5% to $5.6 billion, driven by lower revenues in the smokeable products segment, while adjusted diluted EPS decreased by 2.5% to $1.15, impacted by lower adjusted OCI.
Made meaningful progress in pursuit of their Vision.
Highly profitable traditional tobacco businesses continued to perform well.
Saw continued early momentum from NJOY.
Demonstrated commitment to maximizing return on investments through the sale of a portion of their investment in ABI.
Revenue by Segment
Forward Guidance
Altria reaffirms its 2024 full-year adjusted diluted EPS guidance range of $5.05 to $5.17, representing a growth rate of 2% to 4.5% from a base of $4.95 in 2023.
Positive Outlook
- Guidance includes the impact of two additional shipping days in 2024.
- Guidance assumes limited impact on combustible and e-vapor volumes from enforcement efforts in the illicit e-vapor market.
- Includes planned investments in support of our Vision.
- Includes marketplace activities in support of our smoke-free products.
- Includes continued smoke-free product research, development and regulatory preparation expenses.
Challenges Ahead
- External environment remains dynamic.
- Conditions related to the economy, including the cumulative impact of inflation.
- Adult tobacco consumer (ATC) dynamics, including purchasing patterns and adoption of smoke-free products.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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