Altria Revenues up in Quarter and First Half

Altria Group reported net revenues of $6.94 billion in the second quarter of 2021, up 8.9 percent over those reported in the comparable 2020 quarter. Revenues net of excise taxes were $5.61 billion (up 10.9 percent). For the first six months of 2021, Altria’s net revenues were up 1.9 percent, to $12.97 billion, from the 2020 first half. Revenues net of excise taxes were $10.49 billion the first half, 3.8 percent more than those reported in the first six months of 2020.

“Altria delivered outstanding results in the second quarter thanks to the continued strength of our tobacco businesses and the hard work of our highly talented employees,” said Altria CEO Billy Gifford in a statement. “Our teams have continued their commitment to ‘Moving Beyond Smoking’ by deepening their understanding of adult tobacco consumer preferences, expanding the awareness and availability of our smoke-free product portfolio and amplifying our voice on harm reduction within the scientific and public health communities.”

“With our strong financial performance in the first half, we have raised the lower end of our full-year 2021 adjusted diluted EPS guidance range and now expect full-year adjusted diluted EPS to be in the range of $4.56 to $4.62, representing a growth rate of 4.5 percent to 6 percent from a $4.36 base in 2020. This updated guidance reflects continued confidence in our tobacco businesses, investments in smoke-free products and the expected impact of the recently announced agreement to sell our Ste. Michelle Wine Estates business.”