Altria Q4 2024 Earnings Report
Key Takeaways
Altria Group reported its Q4 and full-year 2024 results, with core tobacco businesses delivering solid income growth and margin expansion. The company also provided its guidance for 2025 full-year adjusted diluted EPS and announced a new $1 billion share repurchase program.
Altria expects to deliver 2025 full-year adjusted diluted EPS in a range of $5.22 to $5.37.
NJOY consumables reported shipment volume increased 15.3% versus the prior year to 12.8 million units.
NJOY devices reported shipment volume increased 22.2% versus the prior year to 1.1 million units.
Marlboro retail share of the total cigarette category was 41.3%, a decrease of 1.0 share point versus the prior year.
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Altria Revenue by Segment
Forward Guidance
Altria expects to deliver 2025 full-year adjusted diluted EPS in a range of $5.22 to $5.37, representing a growth rate of 2% to 5% from a base of $5.12 in 2024.
Positive Outlook
- Guidance includes the impact of one fewer shipping day in 2025.
- Guidance assumes limited impact on combustible and e-vapor product volumes from enforcement efforts in the illicit e-vapor market.
- Guidance includes the reinvestment of anticipated cost savings related to our previously announced Optimize & Accelerate initiative (Initiative).
- Guidance range also includes lower expected net periodic benefit income.
- Guidance range includes planned investments in support of our Vision, such as marketplace activities in support of our smoke-free products and 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, will be monitored.
- Adult tobacco consumer (ATC) dynamics, including purchasing patterns and adoption of smoke-free products will be monitored.
- Illicit product enforcement will be monitored.
- Regulatory, litigation and legislative developments will be monitored.
Revenue & Expenses
Visualization of income flow from segment revenue to net income