Altria Group reported Q1 2025 net revenues of $5.26 billion, down 5.7% from Q1 2024, and revenues net of excise taxes of $4.52 billion, down 4.2%.

Reported diluted EPS declined by 47.9% to $0.63, mainly due to an $873 million non-cash goodwill impairment tied to the NJOY ACE product. Adjusted diluted EPS rose 6.0% to $1.23.

Net earnings fell 49.4% to $1.08 billion, with a reported tax rate of 36.0% and an adjusted tax rate of 23.5%. Altria reaffirmed full-year 2025 guidance for adjusted diluted EPS in the range of $5.30 to $5.45, representing 2% to 5% growth from the 2024 base of $5.19.

Smokeable products net revenues decreased 5.8%, while adjusted operating companies income (OCI) for this segment rose 2.7%, with adjusted OCI margins improving to 64.4%. Cigarette shipment volume dropped 13.7%, reflecting industry-wide declines and increasing competition from illicit e-vapor products. Marlboro's retail share in cigarettes declined to 41.0%.

Oral tobacco products net revenues grew slightly by 0.5%, and adjusted OCI was flat year-over-year. Oral tobacco shipment volume declined by 5.0%, but on! nicotine pouches gained retail share, reaching 8.8% of the total oral tobacco market.

NJOY consumables shipment volume grew 23.9%, but device shipments fell 70% due to the import ban on NJOY ACE. A related impairment charge was recorded. NJOY's U.S. retail share of consumables increased to 6.6%.

During Q1, Altria repurchased 5.7 million shares for $326 million and paid $1.7 billion in dividends. It expects to complete the current $1 billion share repurchase program by year-end 2025.

Altria emphasized its focus on transitioning to smoke-free products and investing strategically despite challenges in the e-vapor market and broader economic pressures.

Altria Group, Inc. (Altria) (NYSE: MO) will host a live audio webcast on Tuesday, April 29, 2025, at 9:00 a.m. Eastern Time to discuss its 2025 first-quarter business results.

Altria will issue a press release containing its business results at approximately 7:00 a.m. Eastern Time the same day. The webcast can be accessed at altria.com.

During the webcast, Billy Gifford, Altria’s Chief Executive Officer, and Sal Mancuso, Altria’s Chief Financial Officer, will discuss the Company’s 2025 first-quarter business results and answer questions from the investment community and news media.

Altria Group, Inc. (NYSE: MO) today announced that our Board of Directors declared a regular quarterly dividend of $1.02 per share, payable on April 30, 2025 to shareholders of record as of March 25, 2025. The ex-dividend date is March 25, 2025.

Altria Declares Regular Quarterly Dividend of $1.02 Per Share

Altria Group, Inc. reported its fourth-quarter and full-year 2024 financial results, announcing stable net revenues and growth in adjusted diluted earnings per share. The company provided 2025 full-year adjusted diluted EPS guidance between $5.22 and $5.37, representing a 2% to 5% increase from 2024.

Net revenues for the year were $24.0 billion, a 1.9% decrease from 2023, while revenues net of excise taxes declined by 0.3% to $20.4 billion. Reported diluted EPS increased by 43.1% to $6.54, primarily driven by a gain from the IQOS rights assignment to Philip Morris International and fewer outstanding shares. Adjusted diluted EPS grew by 3.4% to $5.12.

NJOY, Altria’s e-vapor segment, showed strong shipment growth, with consumables increasing by 15.3% in Q4 and retail share rising to 6.4%. However, regulatory challenges emerged as the U.S. International Trade Commission ruled against NJOY in a patent case filed by JUUL, potentially affecting NJOY's ACE product imports.

Altria continued its shareholder return strategy, completing a $3.4 billion share repurchase program in 2024 and authorizing a new $1 billion program for 2025. The company paid $6.8 billion in dividends over the year.

The company reaffirmed its 2028 enterprise goals, targeting mid-single-digit EPS growth, maintaining a total adjusted operating companies income margin of at least 60%, and expanding its U.S. smoke-free product portfolio. However, the rise of illicit disposable e-vapor products has challenged its ability to meet its 2028 smoke-free volume and revenue goals.

Altria reported a decline in cigarette shipment volumes, with Marlboro’s U.S. retail share decreasing to 41.3% in Q4. Meanwhile, the oral tobacco segment saw continued growth in nicotine pouches, with its on! brand increasing its category share to 8.9%.

The company remains focused on regulatory compliance, sustainability, and corporate responsibility, including ongoing investments in alternative nicotine products. It acknowledged the challenges posed by illicit e-vapor products and potential regulatory shifts, which could impact its long-term smoke-free strategy.