2024

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Altria Group, Inc. (NYSE: MO) reported its financial results for the <a href="https://www.businesswire.com/news/home/20240730496966/en/Altria-Reports-2024-Second-Quarter-and-First-Half-Results-Narrows-2024-Full-Year-Earnings-Guidance" target="_blank" aria-label="second quarter of 2024 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">second quarter of 2024</a>, highlighting both achievements and challenges. <br><br>The company’s net revenues for the quarter were $6.2 billion, a 4.6% decrease from the same period last year. This decline was primarily driven by lower revenues in the smokeable products segment, partially offset by gains in the oral tobacco products segment. <br><br>Revenues net of excise taxes also saw a 3.0% reduction, reaching $5.3 billion. Despite these declines, the reported diluted <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">earnings per share (EPS)</a> surged by 85.7% to $2.21, significantly influenced by the gain from the sale of IQOS Tobacco Heating System commercialization rights.</p> 
<p>The smoke-free product portfolio, particularly NJOY, showed promising performance. NJOY consumables reported a sequential shipment volume increase of 14.7%, and NJOY devices saw an 80.0% increase. <br><br>Additionally, NJOY’s retail share in the U.S. multi-outlet and convenience channel rose by 1.3 share points to 5.5%. The company also achieved notable milestones, such as FDA marketing authorizations for four menthol e-vapor products, positioning NJOY as the first to receive such approvals.</p> 
<h3 id="altria-falls-short-of-expectations-in-q2-adj-eps-1-31-against-1-34-expected">Altria Falls Short of Expectations in Q2, Adj. EPS $1.31 Against $1.34 Expected</h3> 
<p>Altria’s second-quarter performance fell short of market expectations. Analysts had anticipated an EPS of $1.34 and revenue of $5.4 billion. However, the company reported an adjusted diluted EPS of $1.31, unchanged from the previous year, and net revenues of $6.2 billion.</p> 
<p>This discrepancy was primarily due to lower-than-expected performance in the smokeable products segment, which saw a 5.6% decline in net revenues.</p> 
<p>Despite the overall revenue shortfall, Altria’s reported diluted EPS of $2.21 far exceeded expectations, driven by a gain on the sale of IQOS Tobacco Heating System commercialization rights and fewer shares outstanding.</p> 
<p>However, adjusted diluted EPS, which excludes special items, remained flat at $1.31. This indicates that the company’s core operations did not perform as well as anticipated, despite the significant gain from the IQOS sale.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p> 
 </div> 
</div> 
<h3 id="altria-narrows-full-year-2024-guidance">Altria Narrows Full Year 2024 Guidance</h3> 
<p>Altria has narrowed its full-year 2024 guidance for adjusted diluted EPS to a range of $5.07 to $5.15. This represents a growth rate of 2.5% to 4.0% from a base of $4.95 in 2023. </p> 
<p>The company expects the second half of the year to be stronger, supported by two additional shipping days and limited impact from enforcement efforts in the illicit e-vapor market. The guidance reflects Altria’s confidence in its ability to navigate the challenging operating environment and continue delivering value to shareholders.</p> 
<p>The company also highlighted several factors that could impact its guidance, including macroeconomic conditions, adult tobacco consumer purchasing patterns, and regulatory developments. </p> 
<p>Altria plans to continue investing in its smoke-free product portfolio and expects these investments to support its vision of transitioning adult smokers to a smoke-free future. The company also anticipates its full-year adjusted effective tax rate to be in the range of 24.0% to 25.0%.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/altria-group-inc-mo-falls-short-on-expectations-in-q2-2024/">Altria Group Inc. (MO) Falls Short of Expectations in Q2 2024</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Altria Group Inc. (MO) Falls Short of Expectations in Q2 2024

Съдържание

Tokenist

Други статии, публикувани на 31.07.2024 г.

UK Law Commission Recommends Legal Reform to Include Crypto Assets as a New Property Class

Dogecoin (DOGE) and Top Meme Coins Experience Major Drops

Decentralized Social Price Prediction: DESO Plunges 44% As SEC Charges BitClout Founder And This ...

How liquid restaking tokens are revolutionizing DeFi

Analysts Expect Bitcoin Price Increase

SEC Plans to Amend Binance Lawsuit Potential Impact on SOL

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!