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ALTRIA GROUP, INC.

(MO)
  Report
Real-time Estimate Cboe BZX  -  09:10 2022-10-06 am EDT
42.88 USD   -0.06%
10/04Philip Morris expects EU nod on $16 bln Swedish Match in late October
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09/30Altria Terminates Non-Competition Obligations With Juul Labs in E-vapor Business
MT
09/30Altria opts to end non-compete agreement with Juul
RE
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Altria cuts Juul stake value by 72%

07/28/2022 | 07:17am EDT
FILE PHOTO: Packs of Marlboro cigarettes are on display in a shop in Saint Petersburg

(Reuters) - Marlboro maker Altria Group Inc on Thursday cut the value of its stake in Juul Labs Inc by about 72% to $450 million as the e-cigarette maker comes under intense regulatory scrutiny with the risk of a complete ban in the United States.

Altria had valued its 35% stake in Juul at $1.6 billion at the end of March. It was valued at $12.8 billion in 2018.

Juul's e-cigarettes were briefly banned in the United States last month, after the Food and Drug Administration ended a two-year-long review of the company's data to conclude it failed to show the sale of its products will be appropriate for public health.

However, following an appeal by the company, the health regulator put the ban on hold and agreed to an additional review of Juul's marketing application.

Altria's stake in Juul is now valued at just 3.5% of its original value, giving the tobacco giant the option to be released from it non-compete clause and invest or engage in the e-vapor business other than through Juul.

However, Altria said it had opted not to be released form those obligations for now.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur and Vinay Dwivedi)


© Reuters 2022
All news about ALTRIA GROUP, INC.
10/04Philip Morris expects EU nod on $16 bln Swedish Match in late October
RE
09/30Altria Terminates Non-Competition Obligations With Juul Labs in E-vapor Business
MT
09/30Altria opts to end non-compete agreement with Juul
RE
09/30Altria Group, Inc. : Other Events (form 8-K)
AQ
09/20Juul sues FDA for documents said to justify e-cigarette ban
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09/14ALTRIA GROUP, INC. : Ex-dividend day for
FA
09/12Altria Group/juul Labs : An Antitrust Violation For Antitrust Clearance Strategy And Trans..
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09/08Altria Group, Inc. - Jury finds that Reynolds Vapor Company's Vuse Alto Infringes Altri..
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09/07Jury Finds that Reynolds Vapor Company's Vuse Alto Infringes Altria Patents
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09/06Juul to pay $438.5M in e-cig marketing settlement
RE
More news
Analyst Recommendations on ALTRIA GROUP, INC.
More recommendations
Financials (USD)
Sales 2022 20 895 M - -
Net income 2022 7 639 M - -
Net Debt 2022 25 046 M - -
P/E ratio 2022 10,0x
Yield 2022 8,50%
Capitalization 77 255 M 77 255 M -
EV / Sales 2022 4,90x
EV / Sales 2023 4,82x
Nbr of Employees 6 000
Free-Float 64,1%
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Technical analysis trends ALTRIA GROUP, INC.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 42,90 $
Average target price 49,79 $
Spread / Average Target 16,1%
EPS Revisions
Managers and Directors
William F. Gifford Chief Executive Officer & Director
Salvatore Mancuso Chief Financial Officer & Executive Vice President
Kathryn B. McQuade Chairman
Jody L. Begley Chief Operating Officer & Executive Vice President
Charles N. Whitaker SVP, Chief Human Resources & Compliance Officer
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