Altria Quarterly Report

Altria Reports Second-Quarter and First-Half 2024 Results, Narrows Guidance

Key Financial Highlights

Altria Group Inc. (MO) today announced its financial results for the second quarter and first half of 2024.

Second Quarter 2024

Net revenue for the second quarter of 2024 was $4.8 billion, an increase of 4.1% compared to the same period in 2023.

Adjusted operating income was $2.4 billion, an increase of 5.1%. Adjusted diluted earnings per share were $1.26, an increase of 6.6%.

First Half 2024

Net revenue for the first half of 2024 was $9.4 billion, an increase of 4.0% compared to the same period in 2023.

Adjusted operating income was $4.7 billion, an increase of 5.3%. Adjusted diluted earnings per share were $2.49, an increase of 6.5%.

Outlook

Altria also narrowed its financial guidance for 2024.

Net revenue is now expected to be in the range of $18.6 billion to $19.0 billion, compared to the previous range of $18.4 billion to $19.2 billion.

Adjusted diluted earnings per share are now expected to be in the range of $4.88 to $5.08, compared to the previous range of $4.80 to $5.10.

Conclusion

Altria's solid second-quarter and first-half results reflect the continued strength of its core tobacco business. The company's focus on innovation and cost control, along with its recent divestitures, position it for continued growth in the future.