Altria Group, Inc. (MO)
The Market Is Undeterred By Altria Group's Slow Motion Train Wreck
Altria Group, Inc.'s shares have surged by 15.3% since April, outperforming the S&P 500. Second-quarter financial results showed a decline in revenue and adjusted earnings, with market share erosion continuing. Bright spots included growth in NJOY vaping technology and on! nicotine pouches, but overall weakness persists.
Tobacco Giant's Shares Fall on EPS Miss, Lackluster Pouch Gains
Altria Group NYSE: MO is one of the world's “Big Three” tobacco companies and is in the consumer staples sector. Let's examine the firm's business segments and the state of the cigarette market.
Altria Group Is Falling Behind Its Peers, But I'm Holding
The Altria Group stock price decreased by ~3% after the Q2 2024 earnings release. MO continues to struggle within its smokeable product portfolio and cannot offset negative volume effects with positive price/mix effects. Smoke-free products hold significant potential. However, much work remains before this potential can be properly realized.
Why Altria Stock Is Falling Today
Altria's Q2 sales and earnings fell short of Wall Street's targets. The tobacco company also narrowed its full-year earnings guidance.
Altria Group, Inc. (MO) Q2 2024 Earnings Call Transcript
Altria Group, Inc. (NYSE:MO ) Q2 2024 Earnings Conference Call July 31, 2024 9:00 AM ET Company Participants Mac Livingston - Vice President of Investor Relations Billy Gifford - Chief Executive Officer Sal Mancuso - Executive Vice President & Chief Financial Officer Conference Call Participants Bonnie Herzog - Goldman Sachs Matt Smith - Stifel Callum Elliott - Bernstein Faham Baig - UBS Gaurav Jain - Barclays Owen Bennett - Jefferies Operator Good day everyone and welcome to the Altria Group 2024 Second Quarter and First Half Earnings Conference Call. Today's call is scheduled to last about one hour, including remarks by Altria's management and a question-and-answer session representative of the investment community and media on the call will be able to ask questions following the conclusion of the prepared remarks.
Altria's (MO) Q2 Earnings Lag Estimates, Cigarette Volumes Drop
Altria's (MO) second-quarter 2024 results reflect strong pricing, while cigarette shipment volumes remain soft. Management narrows the adjusted EPS view for 2024.
Illicit nicotine pouches on the rise in US, Altria CEO says
Marlboro maker Altria said on Wednesday it had sent data to the U.S. Food and Drug Administration on growth in illegal nicotine pouches, saying it echoed the early stages of a now massive black market for vapes in the country.
Altria Q2 earnings fall short of estimates as cigarette volumes continue to decline
Altria Group Inc (NYSE:MO, ETR:PHM7) shares fell almost 5% after the tobacco alcohol and cannabis conglomerate's second quarter earnings disappointed on waning cigarette demand. The owner of Marlboro-maker Philip Morris posted revenue of $5.2 billion, short of estimates of $5.4 billion.
Altria (MO) Misses Q2 Earnings and Revenue Estimates
Altria (MO) came out with quarterly earnings of $1.31 per share, missing the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.31 per share a year ago.
Altria Stock Drops After Earnings Miss, Narrowed Guidance
Altria now expects adjusted earnings for the year of $5.07 a share to $5.15 a share.
Will Pricing Gains Drive Altria's Q2?
Altria (NYSE: MO) will report its Q2 2023 results on Wednesday, July 31, and it will likely post an upbeat quarter. We expect the company to post revenue of $5.43 billion and adjusted earnings of $1.35 per share, compared to the consensus estimates of $5.39 billion and $1.34, respectively.
Altria's (MO) Q2 Earnings Coming Up: Buy, Sell or Hold Steady?
Altria Group's (MO) second-quarter earnings are likely to reflect gains from the company's pricing power and smoke-free product strength amid soft cigarette volumes.
