Altria Group reported Q2 2024 net revenues of $6.2 billion, down 4.6% year-over-year, and diluted EPS of $2.21, up 85.7%. Adjusted diluted EPS remained flat at $1.31. The company recorded a $2.7 billion gain from selling IQOS rights to PMI and a $354 million impairment charge on the Skoal trademark.Smokeable products segment revenues decreased 5.6% to $5.5 billion, with cigarette volume down 13.0%. Oral tobacco products segment revenues rose 4.6% to $711 million, despite a 1.8% volume decline. NJOY e-vapor products achieved 5.5% retail share, up 1.3 points sequentially.Altria reaffirmed its 2028 Enterprise Goals, including mid-single digit adjusted EPS growth and doubling smoke-free product revenues to $5 billion. The company highlighted concerns over illicit e-vapor products and emphasized its commitment to moving adult smokers to potentially less harmful choices.

Altria Group reported Q2 2024 net revenues of $6.2 billion, down 4.6% year-over-year, and diluted EPS of $2.21, up 85.7%. Adjusted diluted EPS remained flat at $1.31. The company recorded a $2.7 billion gain from selling IQOS rights to PMI and a $354 million impairment charge on the Skoal trademark.Smokeable products segment revenues decreased 5.6% to $5.5 billion, with cigarette volume down 13.0%. Oral tobacco products segment revenues rose 4.6% to $711 million, despite a 1.8% volume decline. NJOY e-vapor products achieved 5.5% retail share, up 1.3 points sequentially.Altria reaffirmed its 2028 Enterprise Goals, including mid-single digit adjusted EPS growth and doubling smoke-free product revenues to $5 billion. The company highlighted concerns over illicit e-vapor products and emphasized its commitment to moving adult smokers to potentially less harmful choices.