MO Earnings: Highlights of Altria’s Q2 2024 report

Tobacco giant Altria Group, Inc. (NYSE: MO) on Wednesday announced financial results for the second quarter, reporting a decrease in revenue and flat earnings on an adjusted basis. Net revenues decreased 4.6% year-over-year to $6.21 billion in the June quarter. The decline was primarily driven by lower revenues in the smokeable products segment, partially offset […]

July 31, 2024 1 min read

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Tobacco giant Altria Group, Inc. (NYSE: MO) on Wednesday announced financial results for the second quarter, reporting a decrease in revenue and flat earnings on an adjusted basis. Net revenues decreased 4.6% year-over-year to $6.21 billion in the June quarter. The decline was primarily driven by lower revenues in the smokeable products segment, partially offset […]
· July 31, 2024

Tobacco giant Altria Group, Inc. (NYSE: MO) on Wednesday announced financial results for the second quarter, reporting a decrease in revenue and flat earnings on an adjusted basis.

Altria Q2 2024 earnings infographic

Net revenues decreased 4.6% year-over-year to $6.21 billion in the June quarter. The decline was primarily driven by lower revenues in the smokeable products segment, partially offset by higher revenues in the oral tobacco products segment.

Second-quarter earnings, excluding one-off itmes, remained unchanged year-over-year at $1.31 per share. On a reported basis, net profit rose sharply to $3.8 billion or $2.21 per share from $2.12 billion or $1.19 per share in the prior-year quarter.

“Altria’s momentum continues to build as we pursue our Vision to responsibly lead the transition of adult smokers to a smoke-free future,” said Billy Gifford, Altria’s CEO.