Altria Businesses ‘on Track’

Altria Group reported its 2022 first-quarter business results and reaffirmed its guidance for 2022 full-year adjusted diluted earnings per share (EPS).

“We are off to a strong start to the year and believe our businesses are on track to deliver against their full-year plans. Our tobacco businesses performed well in a challenging macroeconomic environment, and we continued to make progress toward our vision to responsibly lead the transition of adult smokers to a smoke-free future,” said Billy Gifford, Altria’s CEO, in a statement.

“We reaffirm our guidance to deliver 2022 full-year adjusted diluted EPS in a range of $4.79 to $4.93. This range represents an adjusted diluted EPS growth rate of 4 percent to 7 percent from a $4.61 base in 2021. We continue to expect that adjusted diluted EPS growth will be weighted toward the second half of the year.”

Net revenues decreased 2.4 percent to $5.9 billion, primarily driven by the sale of the company’s wine business in October 2021. Excluding the wine segment, net revenues were essentially unchanged. Revenues net of excise taxes decreased 1.3 percent to $4.8 billion.

A conference call to discuss results with the investment community and the news media was held today at 9 a.m. Eastern Time.