![]() The 2022 Monitoring the Future (MTF) study estimates youth smoking rates to be 2.1%, a nearly 93% reduction from its 1997 peak of 28.3%. Today, underage use of conventional tobacco products is at the lowest levels in a generation. ![]() We believe the Assessment will identify opportunities to accelerate progress toward our 2025 Corporate Responsibility focus area goals, enhance stakeholder alignment and promote transparency.Ĭontinued to support efforts to reduce youth tobacco use. The Assessment follows last year’s passage of a shareholder proposal recommending Altria commission a civil rights equity audit and seeks to address feedback received from recent robust shareholder engagement. We recently announced that we will conduct an equity and civil rights assessment (Assessment). Our responsibility efforts and recognitions from 2022 include the following: Our corporate responsibility reports are available on the Corporate Responsibility section of Our Corporate Responsibility Focus Areas are: (i) reduce the harm of tobacco products, (ii) prevent underage use, (iii) protect the environment, (iv) drive responsibility through our value chain, (v) support our people and communities and (vi) engage and lead responsibly. Despite these factors, our leading tobacco brands remained resilient and we continued to observe significant brand loyalty in the tobacco space overall.Īs of December 31, 2022, we completed the wind-down of Philip Morris Capital Corporation (PMCC) and no finance assets remain.Įnvironmental, Social and Governance (ESG) As a result, our businesses and the industry experienced elevated volume declines, and we observed accelerated share growth in discount cigarettes. In 2022, we believe high rates of inflation impacted ATC behaviors, discretionary income and spending. In 2022, our businesses were not materially impacted by increased costs resulting from global supply chain challenges and high inflation. Macroeconomic and Geopolitical Conditions Impacting Our Businesses We expect to retire approximately $1.3 billion of notes coming due later this month with available cash. ![]() Future dividend payments remain subject to the discretion of our Board. We maintain our long-term objective of a dividend payout ratio target of approximately 80% of our adjusted diluted EPS. We paid dividends of $1.7 billion in the fourth quarter and $6.6 billion for the full year. Share repurchases depend on marketplace conditions and other factors, and the program remains subject to the discretion of our Board. Our Board of Directors (Board) authorized a new $1 billion share repurchase program, which we expect to complete by December 31, 2023. For the full year, we repurchased 38.1 million shares at an average price of $47.83, for a total cost of $1.8 billion. In the fourth quarter, we repurchased 8.3 million shares at an average price of $45.09, for a total cost of $374 million. We completed our previously authorized $3.5 billion share repurchase program. ![]() ![]() Access to the webcast is available at Cash Returns to Shareholders and Capital Markets Activity See “Basis of Presentation” for more information.Ģ “EPS” represents diluted earnings (losses) per share attributable to Altria.Īs previously announced, a conference call with the investment community and news media will be webcast on Februat 9:00 a.m. We expect to deliver 2023 full-year adjusted diluted EPS in a range of $4.98 to $5.13, representing a growth rate of 3% to 6% from a base of $4.84 in 2022.”ġ “Adjusted” financial measures presented in this release exclude the impact of special items. “Our plans for 2023 include a continuation of our strategy to balance earnings growth and shareholder returns with strategic investments toward our Vision. “We generated strong adjusted diluted EPS growth of 5% and made meaningful progress in several areas of our smoke-free portfolio.” “It was an exciting year for Altria as our businesses delivered strong financial performance, and we continued to strategically invest toward our Vision,” said Billy Gifford, Altria’s Chief Executive Officer. (NYSE: MO) today reports our 2022 fourth-quarter and full-year business results and provides our guidance for 2023 full-year adjusted diluted earnings per share (EPS). ![]()
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