Altria Group Inc.

NYSE:MO   12:02:27 AM EDT
+0.66 (+1.47%)
Share Repurchases, Other Pre-Announcement

Altria Announces $1 Bln Share Repurchase Program

Published: 02/01/2023 12:16 GMT
Altria Group Inc. (MO) - Altria Reports 2022 Fourth-quarter and Full-year Results; Provides 2023 Full-year Earnings Guidance; Announces New $1 Billion Share Repurchase Program.
Expect to Deliver 2023 Full-year Adjusted Diluted EPS in a Range of $4.98 to $5.13.
Board of Directors (board) Authorized a New $1 Billion Share Repurchase Program, Which We Expect to Complete by December 31, 2023.
Expect to Retire Approximately $1.3 Billion of Notes Coming Due Later This Month With Available Cash.
As of December 31, 2022, We Completed Wind-down of Philip Morris Capital Corporation (pmcc) and No Finance Assets Remain.
Expect Our 2023 Capital Expenditures to Be Between $175 Million and $225 Million.
In 2022, We Believe High Rates of Inflation Impacted Atc Behaviors, Discretionary Income and Spending.
Qtrly Total Cigarettes Reported Shipment Volume 19,707 Million, Down 12.1%.
Sees 2023 Depreciation and Amortization Expenses of Approximately $230 Million.
Observed Accelerated Share Growth in Discount Cigarettes in 2022.
Q4 Earnings per Share View $1.17, Revenue View $5.15 Billion -- Refinitiv Ibes Data (analyst estimates).
Leading Tobacco Brands Remained Resilient and We Continued to Observe Significant Brand Loyalty in Tobacco Space Overall.
FY2023 Earnings per Share View $5.06 -- Refinitiv Ibes Data (analyst estimates).
As of Dec 31, 2022, Estimated Fair Value of Our Investment in Juul Was $250 Million.