Altria Reports Strong Q4 Earnings but Faces Challenges in Smoke-Free Goals

The Marlboro maker announced a $1 billion share buyback but warned of obstacles from illicit vapes and regulatory pressures.

• Altria's Q4 revenue of $5.974 billion exceeded analyst expectations, while adjusted profit per share met estimates at $1.29.
• The company authorized a $1 billion share repurchase program to be completed by the end of 2025.
• Competition from unregulated disposable vapes, which make up over 60% of the U.S. e-cigarette market, has led Altria to reassess its 2028 smoke-free goals.
• A U.S. trade tribunal ruled against Altria in a patent dispute with Juul Labs, potentially halting imports of NJOY devices and cartridges by March 31.
• Altria forecasts 2025 adjusted earnings per share between $5.22 and $5.37, slightly below some analyst expectations, citing weaker cigarette demand and rising competition in the vape market.

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