Altria prepares to report quarterly earnings

Altria Group, the largest tobacco company in the United States, is scheduled to report its quarterly earnings this Thursday. Market analysts expect a year-on-year revenue growth of 1.2%, a shift from the 1.7% decrease recorded during the same quarter last year.

In previous quarters, Altria met revenue expectations but experienced a slight miss regarding gross margin estimates. The company has missed Wall Street revenue estimates multiple times over the past two years. Despite declining adult smoking rates, Altria has maintained its status as a ‘Dividend King’ by increasing payouts for 57 consecutive years. To mitigate long-term dependence on traditional cigarettes, the company is expanding its smoke-free portfolio, including NJOY e-cigarettes and On nicotine pouches, with a goal of reaching at least $5 billion in smoke-free revenue by 2028.