MO
Altria Group, Inc.59.33
+0.24+0.41%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Details import-export CapEx, Basic independence
Q&A unpacked the import-export program's H2-weighted ramp, tying elevated $300M-$375M CapEx to duty drawback gains with payback under a year, while stressing long-term manufacturing flexibility independent of Basic's promo push. Management insisted Basic's targeted play in 30,000 stores counters consumer pressures without cannibalizing Marlboro, whose Q4 share slip reflects e-vapor enforcement pulling dual users back to discounts. ON PLUS pricing commands a premium over Classic, with national H1 rollout on track amid positive early feedback despite a messy test launch. Analysts pressed on smokable profits and youth smoking; replies were crisp, non-evasive. Execution here matters for thesis durability.
Key Stats
Market Cap
99.67BP/E (TTM)
11.32Basic EPS (TTM)
5.24Dividend Yield
0.07%Recent Filings
10-K
FY2025 results
Altria's FY2025 delivered resilient core performance amid segment challenges, with smokeable products posting 10.0% y/y cigarette shipment decline to 61.8 billion units yet lifting adjusted OCI 1.3% via pricing and lower settlement charges, while oral tobacco shipments fell 5.5% to 732.4 million cans as nicotine pouches hit 53.3% category share. E-vapor suffered $2.3B OCI loss from $1.2B goodwill and $970M intangibles impairments tied to NJOY ACE import bans and gradual illicit enforcement. Q4 cigarette industry volume slowed to -6.5% y/y (derived), signaling modest sequential stabilization. Debt-to-EBITDA held at 2.0x with $4.5B cash; $1B Q4 buybacks advanced capital returns. Balanced risks include illicit trade curbing quarterly momentum.
8-K
E-vapor impairments crush earnings
Altria filed 2025 financials showing net revenues down to $23.3B from $24.0B, hammered by $1.2B e-vapor goodwill impairment and $1.0B asset writedowns after ITC banned NJOY ACE sales effective March 31. Net earnings plunged to $6.9B, or $4.12/share. E-vapor turned deeply unprofitable amid illicit competition risks.
8-K
Altria's 2025 results, Mancuso CEO
Altria reported 2025 adjusted diluted EPS of $5.42, up 4.4% despite $2.2B e-vapor impairments slamming reported EPS to $4.12. Board added Salvatore Mancuso as director effective January 29, 2026; he'll take CEO reins May 14. Guides 2026 adjusted EPS to $5.56-$5.72. E-vapor hits hurt, yet core holds.
8-K
CEO succession announced
Altria announced CEO Billy Gifford's retirement effective May 14, 2026, after over 30 years, with CFO Sal Mancuso stepping up as successor and Heather Newman promoted to CFO on the same date. Gifford will consult through 2026 for a smooth handover; Newman gets $1,500,000 RSUs vesting in 2030. Succession bolsters continuity amid push toward 2028 goals.
8-K
Doubles buybacks, narrows EPS
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