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, Inc. (NYSE:MO) has irrevocably abandoned its warrant for additional shares in Cronos Group Inc. This decision, made on December 16, 2022, follows the poor trading performance of Cronos shares, which have not exceeded CAD$6.00 in the last year. Altria initially held a 45% interest in Cronos, which could have increased to 52% if the warrant had been exercised. As a result of this abandonment, Altria expects a capital loss of $483 million for its 2022 tax return, while still retaining 156,573,537 shares of Cronos.
Altria Group, Inc. (NYSE: MO) has declared a regular quarterly dividend of
Altria Group, Inc. (NYSE: MO) announced the appointment of Jacinto “Jase” Hernandez to its Board of Directors effective November 1, 2022. Hernandez brings extensive experience in the tobacco industry as a former partner and investment analyst at Capital Group. His expertise is expected to advance Altria's strategy of 'Moving Beyond Smoking' toward a smoke-free future. W. Leo Kiely III, a long-time director, will retire, marking a transition in leadership. Altria aims to lead the tobacco market responsibly while focusing on innovation and consumer transition.
Altria Group, Inc. (NYSE: MO) announced its Q3 2022 results, reporting net revenues of $6,550 million, a decline of 3.5% year-over-year. The company narrowed its full-year adjusted diluted EPS guidance to $4.81 to $4.89, reflecting a 4.5% to 6% growth from $4.61 in 2021. Altria's share repurchase program saw 8.5 million shares repurchased at an average price of $43.68 in Q3. The company is committed to strengthening its smoke-free portfolio while continuing to provide substantial dividends, totaling approximately $4.9 billion in the first nine months of 2022.
Altria (NYSE:MO) announces a strategic partnership with JT Group to enhance global harm reduction through heated tobacco products. The collaboration includes a joint venture for U.S. marketing and commercialization of heated tobacco stick (HTS) products and an updated pipeline of Altria's own heated tobacco offerings. Altria aims to use this partnership to accelerate the transition of adult smokers away from traditional cigarettes by providing appealing smoke-free alternatives. The JV will see Altria hold a 75% economic interest with a planned investment of $150 million.
Altria (NYSE:MO) has agreed to transfer exclusive U.S. commercialization rights of the IQOS system to Philip Morris International (PMI) for approximately $2.7 billion in cash payments, effective April 30, 2024. The deal includes an immediate $1 billion payment and an additional $1.7 billion by July 2023. This transaction allows Altria to enhance resource allocation towards its 'Moving Beyond Smoking' initiative. Additionally, the company expects the gain to be recorded as deferred on its balance sheet in Q4 2022.
Altria Group (NYSE: MO) will host a live audio webcast on October 27, 2022, at 9:00 a.m. ET to discuss its 2022 third-quarter and nine-months business results. A press release with the business results will be issued at 7:00 a.m. ET. During the event, CEO Billy Gifford and CFO Sal Mancuso will present the results and answer questions from the investment community. The webcast is listen-only, requiring pre-event registration, available at altria.com. An archived webcast will also be accessible after the event.
Altria Group (NYSE: MO) won a jury decision in the U.S. District Court for the Middle District of North Carolina, with damages of $95,233,292 awarded due to patent infringement by Reynolds Vapor's Vuse Alto e-vapor product. Altria successfully argued for a 5.25% royalty rate, which the jury accepted. This ruling reinforces Altria's commitment to protecting its intellectual property as the company transitions towards a smoke-free future, aiming for a significant market shift by 2030.
Altria Group, Inc. (NYSE: MO) has announced a 4.4% increase in its quarterly dividend, raising it to
Altria Group reported its Q2 and H1 2022 results, confirming its full-year adjusted diluted EPS guidance of $4.79 to $4.93, reflecting 4% to 7% growth from 2021. The company’s net revenues for Q2 were $6.54 billion, down 5.7%, and $12.43 billion for the first half, a 4.1% decrease. Despite macroeconomic challenges like inflation, Altria's smokeable products segment showed resilience, particularly Marlboro. Share repurchases totaled $507 million in Q2, with dividends of approximately $1.6 billion. Investors are watching the impact of rising costs and the evolving regulatory landscape.
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