Altria Group, Inc. - MO STOCK NEWS

Altria Group reports solid first-half results, reaffirms guidance for 2023 full-year adjusted diluted EPS growth rate of 1% to 4%. Q2 2023 net revenues decreased by 0.5% to $6.5 billion, while adjusted diluted EPS increased by 4.0% to $1.31. The company completed the acquisition of NJOY and received a final payment of $1.8 billion from PMI. They repurchased 10.4 million shares and paid dividends of $1.7 billion in Q2.

Altria Group has completed its acquisition of NJOY Holdings and updated its guidance for 2023 full-year adjusted diluted earnings per share. The company aims to accelerate adoption of NJOY ACE, the only pod-based e-vapor product authorized by the FDA. Altria expects the transaction to be accretive to cash flow in 2025 and adjusted diluted EPS in 2026. The company plans to invest in smoke-free product research, development, and regulatory preparation expenses. The estimated 2023 full-year adjusted diluted EPS is in the range of $4.89 to $5.03.

Altria Group, Inc. announces the expiration of the waiting period for its acquisition of NJOY Holdings, Inc. No further regulatory review is required. The Transaction is expected to be completed in Q2 2023.

Altria Group, Inc. holds its 2023 Annual Meeting of Shareholders, announces preliminary voting results and declares a regular quarterly dividend of $0.94 per share.

Altria Group, Inc. (NYSE: MO) reported first-quarter 2023 results, demonstrating a 5.4% increase in adjusted diluted EPS to $1.18, while net revenues decreased by 2.9% to $5,719 million. The company reaffirmed its full-year adjusted diluted EPS guidance of $4.98 to $5.13, reflecting a growth rate of 3% to 6% from 2022. Despite facing challenges from high inflation impacting adult tobacco consumer behaviors and a decline in cigarette volumes, Altria maintained brand loyalty in its tobacco segment. Additionally, Altria announced plans to complete a $2.75 billion acquisition of NJOY and has retired $1.3 billion of debt in early 2023.

The company also highlighted its commitment to sustainability with goals such as achieving 100% renewable electricity by 2030.

A recent survey from Altria (NYSE: MO) indicates strong support for tobacco harm reduction strategies among American adults. Approximately 66% of participants advocate for the FDA to prioritize harm reduction instead of prohibition, believing it essential for adult smokers to access smoke-free alternatives. Notably, 90% of respondents feel the FDA should inform consumers about the risks of different tobacco products, and 84% believe prohibition would spawn illicit markets, potentially compromising public health. The survey found support among primary care physicians and policy professionals, with 89% and 78% respectively backing harm reduction as a more effective regulatory strategy. Overall, the findings stress the public’s desire for a regulated, informed approach to tobacco usage, which could significantly impact Altria's future business strategy.