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Sep 30, 2023
Altria Q3 2023 Earnings Report
Altria's traditional tobacco businesses were resilient, providing fuel for business transformation, and cash returns to shareholders. Full-year 2023 earnings guidance was narrowed.
Key Takeaways
Altria Group, Inc. reported a decrease in net revenues for Q3 2023, driven by lower net revenues in the smokeable products segment. However, the company reaffirmed its commitment to transitioning adult smokers to smoke-free products and narrowed its full-year adjusted diluted EPS guidance to a range of $4.91 to $4.98.
Traditional tobacco businesses were resilient, providing fuel for business transformation.
NJOY acquisition completed and business plans are being executed with speed and focus.
Share repurchase program continued, with $260 million spent in Q3.
Full-year adjusted diluted EPS guidance narrowed to $4.91 to $4.98.
Altria
Altria
Altria Revenue by Segment
Revenue by Segment
Smokeable Products Revenue
CapyFin.comOral Tobacco Products Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Altria narrows its guidance for 2023 full-year adjusted diluted EPS to be in a range of $4.91 to $4.98, representing a growth rate of 1.5% to 3% from an adjusted diluted EPS base of $4.84 in 2022.
Positive Outlook
- Guidance includes planned investments in support of our Vision.
- 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, including planned investments behind the U.S. commercialization of ACE.
- Guidance range also includes estimated amortization charges of approximately $50 million related to intangible assets acquired in the NJOY Transaction.
Challenges Ahead
- The economy, including the impact of high inflation, rising interest rates and global supply chain disruptions.
- Adult tobacco consumer (ATC) dynamics, including disposable income, purchasing patterns and adoption of smoke-free products.
- Regulatory and legislative developments.
- External environment remains dynamic.
- Monitor conditions related to the economy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income