Loading...
•
Jun 30, 2024
Altria Q2 2024 Earnings Report
Altria reported mixed results in Q2 2024, with innovative smoke-free products showing strong performance amidst a challenging operating environment.
Key Takeaways
Altria's Q2 2024 results showed resilience in traditional tobacco businesses despite a challenging environment. Innovative smoke-free products, particularly NJOY, demonstrated strong share and volume growth. The company narrowed its full-year adjusted diluted EPS guidance to a range of $5.07 to $5.15, representing a 2.5% to 4.0% growth rate from 2023.
NJOY consumables shipment volume increased 14.7% sequentially to 12.5 million units.
NJOY devices shipment volume increased 80.0% sequentially to 1.8 million units.
NJOY retail share in the U.S. multi-outlet and convenience channel increased 1.3 share points sequentially to 5.5%.
Altria narrowed its full-year 2024 adjusted diluted EPS guidance to $5.07 - $5.15.
Altria
Altria
Altria Revenue by Segment
Altria Revenue by Geographic Location
Revenue by Segment
Smokeable Products Revenue
CapyFin.comOral Tobacco Products Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Altria narrowed its guidance for 2024 full-year adjusted diluted EPS to be in a range of $5.07 to $5.15, representing a growth rate of 2.5% to 4.0% from a base of $4.95 in 2023. The guidance includes the impact of two additional shipping days in 2024 and assumes limited impact on combustible and e-vapor product volumes from enforcement efforts in the illicit e-vapor market.
Positive Outlook
- Two additional shipping days in 2024, both of which occur in the second half.
- Limited impact on combustible and e-vapor product volumes from enforcement efforts in the illicit e-vapor market.
- Planned investments in marketplace activities in support of smoke-free products.
- Continued smoke-free product research, development and regulatory preparation expenses.
- Expect 2024 adjusted diluted EPS growth to be weighted to the second half of the year.
Challenges Ahead
- Dynamic external environment related to the economy, including the cumulative impact of inflation.
- Adult tobacco consumer dynamics, including purchasing patterns and adoption of smoke-free products.
- Illicit e-vapor enforcement.
- Regulatory, litigation and legislative developments.
- External environment remains dynamic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income