The following is a summary of the Altria Group, Inc. (MO) Q3 2024 Earnings Call Transcript:
Financial Performance:
Altria Group reported Q3 2024 adjusted diluted earnings per share growth of 7.8% and 1.6% for the first nine months.
Adjusted operating company income for the Smokable Products segment grew by 7.1%.
Confirmed full-year adjusted diluted EPS guidance for 2024 in the range of $5.07 to $5.15.
Business Progress:
NJOY's consumable shipment volume grew more than 15% to 10.4 million units and device shipment volume nearly tripled.
on! oral nicotine pouches grew 11.4 share points, now representing nearly 44% of the oral tobacco category.
Initiating the 'optimize and accelerate' initiative to modernize processes and aim for $600 million in cost savings over five years.
Opportunities:
The e-vapor category grew due to the increase in adult vapers, reflecting opportunity for smoke-free product penetration.
Regulatory actions to control illicit vapor products could enhance market conditions for compliant operators like Altria.
Risks:
Increased presence of illicit nicotine and vapor products impacting market dynamics and consumer choices.
Legal challenges with JUUL over patent infringements could affect NJOY's product availability.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
