RICHMOND - Altria Group, Inc. (NYSE: MO) today reports its 2022 second-quarter and first-half business results and reaffirms its guidance for 2022 full-year adjusted diluted earnings per share (EPS).
'Our tobacco businesses performed well in a challenging macroeconomic environment for the first half of the year,' said Billy Gifford, Altria's Chief Executive Officer. 'The smokeable products segment delivered solid operating companies income growth behind the resilience of Marlboro, and our moist smokeless tobacco brands continued to drive profitability. We also continued to make progress toward our Vision through the investments we laid out in January, which included supporting the expansion of on!. We are encouraged by on!'s retail momentum and significant share growth since achieving unconstrained capacity last summer.'
'We believe this is a pivotal point in the U.S. tobacco industry. The FDA has the opportunity to create a mature, regulated marketplace of smoke-free products that can successfully realize tobacco harm reduction and improve the lives of millions of adult smokers. We share the FDA's goal to transition adult smokers away from cigarettes, but we continue to believe that harm reduction, not prohibition, is the best path forward.' 'Our financial plans for the year remain on track, and we reaffirm our guidance to deliver 2022 full-year adjusted diluted EPS in a range of $4.79 to $4.93. This range represents an adjusted diluted EPS growth rate of 4% to 7% from a $4.61 base in 2021.'
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