The following is a summary of the Altria Group, Inc. (MO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Altria Group reported a decrease in Q1 2024 adjusted diluted earnings per share by 2.5%.

• The smokeable products segment delivered over $2.4 billion in adjusted operating income, due in part to an 8.5% net price realization.

• Adjusted Operating Income for the oral tobacco products segment grew 4.6%.

• Altria Group sold a portion of their stake in Anheuser-Busch InBev and expanded their share repurchase program to $3.4 billion.

Business Progress:

• Altria expanded the distribution of NJOY to over 80,000 stores and aims to expand further by the year end.

• The firm's roll-out of NJOY's retail trade program has secured premium positioning in over 70% of contracted stores.

• Altria Group made meaningful business progress despite regulatory challenges, specifically in the e-vapor market.

• Altria continues to aggressively pursue efforts to create conditions for tobacco harm reduction's success in the US.

• The company plans to invest in promotions and retail presence based on targeted data analytics.

More details: Altria IR

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