On February 2nd, Altria Group released its 2022 financial performance results. The fourth-quarter net revenue was 6.11 billion US dollars, and the annual net income was 25.1 billion US dollars, representing a decline of 2.3% and 3.5% compared to the same period last year, respectively. Net income after deducting consumption tax decreased by 0.1% this quarter but grew 2% for the year, reaching 5.08 billion US dollars and 20.69 billion US dollars, respectively.
Image source: Altria official website.
Altria CEO Billy Gifford has stated that this has been an exciting year for Altria, as the company has achieved strong financial results and continues to make strategic investments towards its vision.
According to the official website, Altria has achieved a strong increase in diluted earnings per share after a 5% adjustment and has made meaningful progress in various areas of its portfolio of non-smoking products. Altria's plan for 2023 includes continuing to implement its established strategies and achieving its vision through strategic investments, balancing earnings growth and shareholder returns. It is expected that the adjusted diluted earnings per share for the full year 2023 will be between $4.98 and $5.13, representing a 3% to 6% growth from the baseline of $4.84 in 2022.
Furthermore, Altria Group has adjusted its stake valuation in Juul Labs. According to Altria, as of December 31, 2022, this investment is valued at $250 million.
JUUL Valuation Fluctuates: Image Source - Altria Official Website
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Tobacco company Altria has released its financial results for the fourth quarter and full year of 2022. The company has also given guidance for its 2023 full-year earnings and has announced a new share repurchase program worth $1 billion.
Altria has released its financial results for the fourth quarter and full year of 2022, along with earnings guidance for the full year of 2023. They have also announced a new $1 billion share repurchase program.
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