Altria Group reported Q2 2024 net revenues decreased 4.6% to $6.2 billion, while net earnings surged 79.6% to $3.8 billion, primarily driven by the $2.7 billion gain from the IQOS System commercialization rights sale. Adjusted earnings declined 3.8% to $2.3 billion due to lower operating income. The company recorded a $354 million non-cash impairment charge for the Skoal trademark.Smokeable products segment revenues fell 5.6% to $5.5 billion on lower shipment volumes, while oral tobacco products revenue grew 4.6% to $711 million despite volume declines. Marlboro maintained a 42.0% retail share, while on! nicotine pouches achieved 8.1% share of the oral tobacco category. The company expanded NJOY distribution to over 100,000 stores with 5.5% e-vapor category share.Altria reaffirmed its smoke-free transition vision, targeting 35% smoke-free volume growth and $5 billion in smoke-free revenues by 2028. The company maintained its progressive dividend policy targeting mid-single digit annual growth and completed a $2.4 billion accelerated share repurchase program using proceeds from the partial sale of its ABI stake.

Altria Group reported Q2 2024 net revenues decreased 4.6% to $6.2 billion, while net earnings surged 79.6% to $3.8 billion, primarily driven by the $2.7 billion gain from the IQOS System commercialization rights sale. Adjusted earnings declined 3.8% to $2.3 billion due to lower operating income. The company recorded a $354 million non-cash impairment charge for the Skoal trademark.Smokeable products segment revenues fell 5.6% to $5.5 billion on lower shipment volumes, while oral tobacco products revenue grew 4.6% to $711 million despite volume declines. Marlboro maintained a 42.0% retail share, while on! nicotine pouches achieved 8.1% share of the oral tobacco category. The company expanded NJOY distribution to over 100,000 stores with 5.5% e-vapor category share.Altria reaffirmed its smoke-free transition vision, targeting 35% smoke-free volume growth and $5 billion in smoke-free revenues by 2028. The company maintained its progressive dividend policy targeting mid-single digit annual growth and completed a $2.4 billion accelerated share repurchase program using proceeds from the partial sale of its ABI stake.