• April 24, 2024

Altria Well-Placed for 2024: Zacks

 Altria Well-Placed for 2024: Zacks
Image: Photo: Casimiro

Despite changing consumer preferences and macroeconomic uncertainties, Altria Group is well positioned to navigate the market’s complexities in 2024, according to Zacks Investment Research.

According to the financial firm, Altria Group owes its resilience in part to its strong pricing power, which allows the tobacco manufacturer to offset lower shipment volumes with higher earnings per pack.

Altria Group’s investments in reduced-risk products, such as e-cigarettes and nicotine pouches, meanwhile, are enabling the company to capitalize on new market trends.

What’s more, the acquisition of Njoy has given Altria Group access to some of the few vapor products that have been authorized for sale on the U.S. market by the Food and Drug Administration.

Altria Group expects U.S. smoke-free volumes to grow by at least 35 percent through 2028 from the 2022 level of 800 million units.