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Sep 30, 2024
Altria Q3 2024 Earnings Report
Altria delivered outstanding results driven by smokeable products and oral tobacco segments.
Key Takeaways
Altria reported a slight decrease in net revenues but an increase in both reported and adjusted diluted EPS for Q3 2024. The company reaffirms its full-year earnings guidance and announces a new initiative to modernize processes.
Smokeable products segment delivered solid operating companies income growth.
Oral tobacco products segment maintained profitability with MST brands and momentum with on!.
New Optimize & Accelerate initiative aimed to modernize processes and accelerate progress toward Vision.
Reaffirmed full-year adjusted diluted EPS guidance in a range of $5.07 to $5.15.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Altria reaffirms its guidance to deliver 2024 full-year adjusted diluted EPS in a range of $5.07 to $5.15, representing a growth rate of 2.5% to 4% 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 product volumes from enforcement efforts in the illicit e-vapor market.
- Guidance accounts for a range of scenarios.
- Guidance includes planned investments in support of our Vision.
- Expects 2024 full-year adjusted effective tax rate to be in a range of 24% to 25%.
Challenges Ahead
- External environment remains dynamic.
- Monitoring conditions related to the economy, including the cumulative impact of inflation.
- Monitoring adult tobacco consumer 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
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Avg. Return Before/After Earnings
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