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confidence high
sentiment neutral
materiality 0.75
Altria sets 2028 goals for mid-single digit EPS/dividend growth; reaffirms 2023 guidance
ALTRIA GROUP, INC.
- New 2028 Enterprise Goals: mid-single digits CAGR adjusted diluted EPS growth; progressive dividend policy targeting mid-single digits annual dividend growth.
- Smoke-free targets: at least 35% volume growth from 800M units (2022 base); double net revenues to $5B with $2B from innovative products.
- Maintain U.S. tobacco leadership and total adjusted OCI margin of at least 60% each year through 2028; debt-to-EBITDA ratio target ~2.0x.
- Reaffirmed 2023 full-year adjusted EPS guidance of $4.98-$5.13 (3-6% growth from 2022 base of $4.84).
- Unveiled SWIC heated tobacco capsule and on! PLUS oral pouch; PMTAs not yet filed; progress toward bringing to market upon regulatory authorization.