Altria Group backs FY24 adjusted EPS view $5.07-$5.15, consensus $5.10

Lowers FY24 capital expenditures view to $125M-$175M from $175M-$225M. Backs FY24 adjusted tax rate view 24%-25%. “We also announce today a new Optimize & Accelerate initiative designed to modernize our processes, which we believe will accelerate progress toward our Vision, and we reaffirm our guidance to deliver 2024 full-year adjusted diluted EPS in a range of $5.07 to $5.15. This range represents an adjusted diluted EPS growth rate of 2.5% to 4% from a base of $4.95 in 2023.”