Altria Group, Inc.
Altria Announces Q1 2024 Results and Reaffirms Full-Year Guidance
Summary
Altria Group, Inc. reported its 2024 first-quarter financial results, with net revenues decreasing by 2.5% to $5.58 billion and adjusted diluted EPS decreasing by 2.5% to $1.15. The company reaffirmed its 2024 full-year adjusted diluted EPS guidance of $5.05 to $5.17. Altria also announced a $2.4 billion increase to its share repurchase program and provided updates on its strategic investments and business activities.
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About Altria Group, Inc.
Altria Group, Inc. is a holding company with a primary focus on the manufacture and sale of cigarettes and related products. Serving as a leading player in the tobacco industry, Altria is best known for its premium cigarette brand, Marlboro, which holds a significant market share in the United States. Beyond cigarettes, the company has established a diversified portfolio by investing in smokeless tobacco products, wine via its subsidiary Ste. Michelle Wine Estates, and a stake in the cannabis market through its investment in Cronos Group. Altria's strategic expansions into non-cigarette categories reflect its aim to navigate changing consumer preferences and regulatory landscapes. As one of the foremost publicly traded entities in its sector, Altria plays a significant role in the broader consumer goods market. The company continues to engage with shifting market dynamics by fostering innovation in reduced-risk products while maintaining its strong presence in traditional tobacco markets.
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