Summary by Moomoo AI
Altria reported Q2 2024 net revenues of $6.2 billion, down 4.6% YoY, while adjusted diluted EPS remained flat at $1.31. The company narrowed its 2024 adjusted EPS guidance to $5.07-$5.15, representing 2.5-4.0% growth. Notably, NJOY received FDA marketing authorization for four menthol e-vapor products, becoming the first and only authorized menthol e-vapor products in the market.Smokeable products segment saw domestic cigarette shipment volume decline 13.0% YoY, while NJOY's retail share increased 1.3 points sequentially to 5.5%. The company recorded a $354 million non-cash impairment charge for the Skoal trademark and a $2.7 billion gain from the sale of IQOS commercialization rights.During the first half of 2024, Altria returned $5.8 billion to shareholders through dividends and share repurchases. The company completed its $2.4 billion accelerated share repurchase program at an average price of $44.50 per share and has $990 million remaining under its current repurchase authorization.
