The earnings call highlighted strong financial performance and strategic growth in segments like smoke-free products and oral tobacco. However, challenges such as illicit market growth, litigation issues, and economic pressures on consumers were notable concerns.

Company Guidance

During the Altria Group's Q3 2024 earnings call, the company provided several metrics to highlight its strong performance and future guidance. Altria reported a 7.8% growth in adjusted diluted earnings per share for the third quarter and reaffirmed its full-year adjusted diluted EPS guidance to be within a range of $5.07 to $5.15, reflecting a growth rate of 2.5% to 4% from the previous year's base of $4.95. The smokeable products segment showed an adjusted operating company's income growth of 7.1% for the quarter, with adjusted OCI margins expanding to 63.1%. NJOY, Altria's e-vapor brand, experienced a 15% increase in consumables shipment volume in the third quarter, achieving a 6.2% retail share of consumables, a 2.8 share point increase from the previous year. The oral tobacco products segment also saw a 46% shipment volume growth for its brand on!, contributing to an 11.4 share point increase in the nicotine pouch category, which now represents nearly 44% of the category. The company anticipates $600 million in cumulative cost savings over the next five years from its new optimize and accelerate initiative, with estimated pre-tax charges for the initial phases ranging from $100 million to $125 million.

Strong Financial Performance

Altria grew adjusted diluted earnings per share by 7.8% in Q3 and by 1.6% for the first 9 months. The company reaffirms guidance for 2024 full-year adjusted diluted EPS growth of 2.5% to 4%.

Marlboro's Resilience

The smokeable products segment delivered solid income growth, with Marlboro expanding its share of the premium segment to 59.3% in Q3, demonstrating strong consumer loyalty.

NJOY's Market Share Growth

NJOY's third quarter retail share of consumables increased to 6.2 share points, up 2.8 share points versus the year-ago period. NJOY's promotional efforts resulted in an 85% volume increase during the promotional period.

Oral Tobacco Products Segment Growth

The oral tobacco products segment reported a 46% increase in shipment volume for the brand 'on.' The segment's adjusted operating company's income grew by 2% in Q3.

Cost Savings Initiative

Altria announced a multi-phase initiative expected to deliver at least $600 million in cumulative cost savings over the next 5 years.

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Altria Group (MO) Earnings, Revenues Date & History

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MO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 30, 2025	2024 (Q4)	1.29 / -	1.18	―	―	―
Oct 31, 2024	2024 (Q3)	1.35 / 1.38	1.28	7.81% (+0.10)
Jul 31, 2024	2024 (Q2)	1.34 / 1.31	1.31	0.00% (0.00)
Apr 25, 2024	2024 (Q1)	1.15 / 1.15	1.18	-2.54% (-0.03)
Feb 01, 2024	2023 (Q4)	1.18 / 1.18	1.18	0.00% (0.00)
Oct 26, 2023	2023 (Q3)	1.29 / 1.28	1.28	0.00% (0.00)
Aug 01, 2023	2023 (Q2)	1.30 / 1.31	1.26	3.97% (+0.05)
Apr 27, 2023	2023 (Q1)	1.18 / 1.18	1.12	5.36% (+0.06)	―
Feb 01, 2023	2022 (Q4)	1.17 / 1.18	1.09	8.26% (+0.09)
Oct 27, 2022	2022 (Q3)	1.30 / 1.28	1.22	4.92% (+0.06)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 31, 2024	$50.50	$54.46	+7.84%
Jul 31, 2024	$49.58	$48.07	-3.05%
Apr 25, 2024	$41.19	$41.79	+1.46%
Feb 01, 2024	$37.66	$39.17	+4.01%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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