Altria Reports 2023 Results

Altria Group reported net revenues of $5.98 billion for the fourth quarter of 2023 and net revenues of $24.48 billion for the full fiscal year, down 2.2 percent and 2.4 percent, respectively, from the comparable 2022 periods.

The decrease in the fourth quarter and the full year were both driven primarily by lower net revenues in the smokable segment, which were partially offset by higher net revenues in the oral products segment.

“It was a pivotal year for Altria as we made significant progress in pursuit of our Vision by enhancing our smoke-free product portfolio while our businesses performed well in a challenging environment,” said Altria CEO Billy Gifford in a statement. “We grew adjusted diluted EPS by 2.3 percent and continued our long history of rewarding shareholders by delivering nearly $7.8 billion in dividends and share repurchases.”

“Our plans for 2024 include a continuation of our strategy to balance earnings growth and shareholder returns with strategic investments toward our Vision. We expect to deliver 2024 full-year adjusted diluted EPS in a range of $5.00 to $5.15, representing a growth rate of 1 percent to 4 percent from a $4.95 base in 2023.”