Altria Shares Surge on Strong Q3 Earnings and Vaping Growth
Altria's third-quarter results exceeded expectations, driven by robust demand for vaping products and nicotine pouches, despite declining cigarette sales.
- Altria reported third-quarter adjusted earnings per share of $1.38, surpassing the analyst consensus of $1.35.
- The company's quarterly revenue rose 1.3% to $5.34 billion, slightly above the expected $5.33 billion.
- Altria's NJOY vaping products and on! nicotine pouches saw significant shipment growth, with NJOY device shipments increasing over 100% year-over-year.
- Despite a decline in cigarette sales, Altria maintained its full-year profit forecast, projecting adjusted EPS between $5.07 and $5.15.
- Altria plans to enhance operational efficiency through automation and generative AI, aiming for $600 million in cost savings over five years.