Altria Posts $6.26 Billion in Revenues

Altria Group reported net revenues of $6.26 billion for the third quarter of 2024, down 0.4 percent from the comparable 2023 quarter. Revenue net of excise taxes increased 1.3 percent to $5.34 billion.

“Altria delivered outstanding results in the third quarter,” said Altria CEO Billy Gifford in a statement. “The smokeable products segment delivered solid operating companies income growth behind the resilience of Marlboro, and in the oral tobacco products segment, our MST brands continued to drive profitability while On! maintained momentum in the marketplace. We also continued to reward shareholders through a growing dividend and share repurchases while making investments in pursuit of our vision.”

“We also announce today a new Optimize and Accelerate initiative designed to modernize our processes, which we believe will accelerate progress toward our vision, and we reaffirm our guidance to deliver 2024 full-year adjusted diluted EPS in a range of $5.07 to $5.15. This range represents an adjusted diluted EPS growth rate of 2.5 percent to 4 percent from a base of $4.95 in 2023.”