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Dec 31, 2023
Altria Q4 2023 Earnings Report
Altria reported fourth-quarter and full-year results for 2023 and provided full-year earnings guidance for 2024.
Key Takeaways
Altria's Q4 2023 results showed a decrease in net revenues by 2.2% to $5.975 billion, while adjusted diluted EPS remained unchanged at $1.18. The company made significant progress in enhancing its smoke-free product portfolio. For 2024, Altria expects to deliver a full-year adjusted diluted EPS in the range of $5.00 to $5.15.
Net revenues decreased by 2.2% to $5.975 billion.
Adjusted diluted EPS was unchanged at $1.18.
Completed acquisition of NJOY Holdings, Inc. on June 1, 2023, and focused on strengthening the supply chain and expanding distribution.
Board authorized a new $1 billion share repurchase program expected to be completed by December 31, 2024.
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 expects to deliver 2024 full-year adjusted diluted EPS in a range of $5.00 to $5.15, representing a growth rate of 1% to 4% from a base of $4.95 in 2023. Growth is expected to be weighted to the second half of the year.
Positive Outlook
- Includes the impact of two additional shipping days in 2024.
- Assumes limited impact from enforcement efforts in the illicit e-vapor market on combustible and e-vapor volumes.
- Includes planned investments in support of our Vision, such as marketplace activities in support of our smoke-free products.
- Includes continued smoke-free product research, development and regulatory preparation expenses.
- Expects 2024 full-year adjusted effective tax rate to be in a range of 24.5% to 25.5%.
Challenges Ahead
- The external environment remains dynamic.
- Conditions related to the economy, including the cumulative impact of inflation, could impact results.
- Adult tobacco consumer dynamics, including purchasing patterns and adoption of smoke-free products, could impact results.
- Illicit e-vapor enforcement could impact results.
- Regulatory, litigation and legislative developments could impact results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income