Q4 2024 Altria Group Inc Earnings Call Transcript
Key Points
- Altria Group Inc (MO) reported a 3.4% growth in adjusted diluted earnings per share for the full year, demonstrating strong financial performance.
- The company returned over $10.2 billion to shareholders through dividends and share repurchases, highlighting its commitment to shareholder value.
- NJOY and on! smoke-free products showed encouraging performance with volume and share growth in their respective categories.
- Altria Group Inc (MO) expanded NJOY's distribution to over 100,000 stores and achieved a 15% growth in NJOY consumables shipment volume in the fourth quarter.
- Helix, the company behind on!, achieved profitability ahead of its 2025 goal, indicating strong performance in the oral tobacco category.
- The widespread availability of illicit disposable e-vapor products is jeopardizing the long-term opportunity for tobacco harm reduction.
- Illicit products represent more than 60% of the e-vapor category, creating a challenging operating environment for responsible manufacturers.
- Altria Group Inc (MO) is reassessing its smoke-free goals and NJOY targets due to the unexpected growth of the illicit e-vapor market.
- The ITC issued an exclusion order against NJOY's ACE product, which could limit FDA-authorized choices and impact public health.
- The smokeable products segment reported a decline in domestic cigarette volumes by 10.2% for the full year, reflecting shifts in consumer preferences.
So good morning, and thank you for joining us. This morning, Billy Gifford, Altria's CEO; and Sal Mancuso, our CFO, will discuss Altria's fourth-quarter and full-year business results. Earlier today, we issued a press release providing our results. The release, presentation, quarterly metrics and our latest corporate responsibility reports are all available at altria.com.
During our call today, unless otherwise stated, we're comparing results to the same period in 2023. Our remarks contain forward-looking statements, including projections of future results. Please review the forward-looking and cautionary statements section at the end of today's earnings release for various factors that could cause actual results to differ materially from projections. Future dividend payments and share repurchases remain subject to the discretion of our Board of Directors.
We report our financial results in accordance with US Generally Accepted Accounting Principles. Today's call will contain various operating results on both a
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