Altria Reports Quarterly Results

Altria Group reported net revenues of $6.51 billion for the second quarter of 2023, down 0.5 percent from the comparable 2022 period. Revenues net of excise taxes increased 1.2 percent to $5.43 billion.

In the first half of 2023, Altria Group reported revenues of $12.23 billion, 1.7 percent less than in the first six months of the prior year. Revenues net of excise taxes increased 0.1 percent to $10.2 billion during the first half of 2023.

“We had a solid first half of the year and we continue on our exciting journey towards Moving Beyond Smoking,” said Altria CEO Billy Gifford in a statement. “We completed our acquisition of NJOY and delivered strong business results, growing adjusted diluted EPS by 5 percent in the first half. And we returned $3.8 billion to shareholders while investing in pursuit of our Vision.”

“We look forward to executing our commercial plan for NJOY in the second half of the year, and we reaffirm our guidance to deliver 2023 full-year adjusted diluted EPS in a range of $4.89 to $5.03. This range represents an adjusted diluted EPS growth rate of 1 percent to 4 percent from a $4.84 base in 2022.”