Welcome to our dedicated page for Altria Group news (Ticker: MO), a resource for investors and traders seeking the latest updates and insights on Altria Group stock.
Altria Group, Inc. (symbol: MO) is a major American corporation renowned for its production and marketing of tobacco, cigarettes, and related products. Headquartered in Henrico County, Virginia, near Richmond, Altria operates globally and is a significant player in the tobacco industry.
Altria's portfolio includes well-known subsidiaries such as Philip Morris USA, U.S. Smokeless Tobacco, John Middleton, Horizon Innovations, and Helix Innovations. Through these subsidiaries, Altria maintains a leading position in the U.S. cigarette and smokeless tobacco markets, as well as holding the number-two spot in machine-made cigars.
The company's flagship brand, Marlboro, continues to dominate the U.S. market with a 42% annual share in 2022. Altria also holds an 8% interest in Anheuser-Busch InBev, the world's largest brewer, and a 42% stake in cannabis manufacturer Cronos. Recently, Altria acquired Njoy Holdings in 2023 and exited its strategic investment in Juul Labs. Additionally, Altria is involved in a joint venture with Japan Tobacco to explore opportunities in the heated tobacco sector.
The company is consistently active in the market, seeking to innovate and adapt to changing consumer preferences and regulatory landscapes. Altria's financial condition remains robust, supported by its diverse product offerings and strategic partnerships.
Altria Group reported its 2020 Q4 and full-year results, showcasing net revenues of $6.3 billion in Q4, up 4.9%, and $26.2 billion for the year, a 4.2% increase. Adjusted diluted EPS for 2020 was $4.36, with 2021 guidance set at $4.49 to $4.62, reflecting a growth of 3% to 6%. The Board authorized a new $2 billion share repurchase program, expected to conclude by mid-2022. Altria is focusing on its 10-year Vision to transition smokers to noncombustible products. Despite challenges from COVID-19, the tobacco segment remained resilient, with significant investments planned for future growth.
Altria Group will host a live audio webcast on January 28, 2021, at 9:00 a.m. ET to discuss its 2020 fourth-quarter and full-year business results. A press release will be issued at 7:00 a.m. ET on the same day, and the webcast can be accessed at altria.com. CEO Billy Gifford and CFO Sal Mancuso will present the results and address questions from investors and media. Note that the webcast will be in listen-only mode, and pre-event registration is required at www.altria.com/webcasts.
Altria Group, Inc. (NYSE: MO) has declared a quarterly dividend of $0.86 per share, demonstrating its ongoing commitment to returning value to shareholders. This dividend is payable on January 11, 2021 to shareholders of record as of December 28, 2020, with the ex-dividend date set for December 24, 2020. This decision reflects Altria's focus on providing consistent income to its investors amidst market fluctuations.
Altria (NYSE:MO) has been certified as a Great Place to Work, emphasizing its commitment to a positive workplace culture. Over 90% of surveyed employees reported satisfaction with Altria as a workplace, highlighting flexibility, ethical leadership, and community support. This certification is based on insights from Great Place to Work®, which underscores the link between employee trust and business performance. Altria aims to leverage this positive environment to achieve its long-term vision of leading the transition to non-combustible products.
Altria Group, Inc. (NYSE: MO) has received FDA authorization for the commercialization of the next-generation IQOS 3 tobacco heating system in the U.S. This decision follows a review of the Premarket Tobacco Product Application submitted by Philip Morris International Inc. (PMI). The IQOS 3 features improvements over the IQOS 2.4, including enhanced battery life and faster charging. Altria aims to transition adult smokers to non-combustible products, with plans to market the new device upon satisfying regulatory requirements.
Altria Group, Inc. (NYSE: MO) confirmed its 2020 full-year adjusted diluted earnings per share (EPS) guidance at $4.30 to $4.38, reflecting a growth of 2% to 4% from 2019's $4.21. During the Morgan Stanley Global Consumer and Retail Conference, CEO Billy Gifford and CFO Sal Mancuso will engage with investors to discuss Altria’s business fundamentals. The EPS guidance excludes impacts from special items and focuses on underlying operations, avoiding costs related to restructuring, impairments, and litigation, among others.
Altria Group, Inc. (NYSE:MO) has announced the conversion of its non-voting shares in JUUL Labs, Inc. to voting shares. This move follows Altria's original investment in JUUL in December 2018, which granted a 35% economic interest. Altria will not exercise its governance rights pending the outcome of ongoing FTC litigation. The company plans to account for its investment in JUUL under the fair value option, affecting its consolidated earnings. Notably, Altria aims to treat quarterly fair value changes as special items, excluding them from adjusted diluted earnings per share.
Altria Group, Inc. (NYSE:MO) announces the appointment of Dr. Ellen R. Strahlman to its Board of Directors, effective November 2, 2020. Dr. Strahlman brings extensive experience from her roles as Executive Vice President at Becton, Dickinson and Company and Chief Medical Officer at GlaxoSmithKline. She has held senior positions in global product development and medical affairs at major pharmaceutical companies, enhancing Altria's leadership with her expertise. Dr. Strahlman will serve on the Finance and Innovation Committees, potentially impacting strategic decision-making.
Altria Group, Inc. (NYSE: MO) reported Q3 2020 net revenues of $7.1 billion, marking a 3.9% increase year-over-year. Adjusted diluted EPS was $1.19, unchanged from the prior year, while full-year EPS guidance is narrowed to $4.30-$4.38, indicating 2%-4% growth from $4.21 in 2019. The company expanded its noncombustible product offerings, including IQOS and on!, now present in 56,000 stores. However, it recorded a $2.6 billion impairment charge related to its JUUL investment amid challenges in the e-vapor market. Altria continues to monitor COVID-19's impact on its operations and overall market conditions.
Altria Group, Inc. (NYSE: MO) will host a live audio webcast on October 30, at 9:00 a.m. ET, to discuss its 2020 third-quarter business results. A press release detailing these results will be issued at 7:00 a.m. ET the same day. CEO Billy Gifford and CFO Sal Mancuso will lead the discussion and respond to questions from the investment community. The webcast will be listen-only, and pre-event registration is required. Access details and an archived version will be available on Altria's website and the Investor App.
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