krblokhin Altria Group (NYSE:MO) submitted a solid earnings sheet for the second fiscal quarter, although the tobacco firm missed on both the top and the bottom line. Strong NJOY momentum, driven by growing distribution and product uptake, continues to support the company's earnings growth projection and the e-cigarette market opportunity is growing for Altria. On the other hand, Altria's combustible segment is still struggling as smokers turn away from traditional tobacco products. From a dividend cove ...

文章核心观点 - 总体来看,Altria公司在2024年第二季度的财务指标和整体回报前景有所改善[5] - 公司的烟草产品业务虽然受到结构性下降的影响,但Altria公司仍然成功地维护了利润率[6] - 公司的其他产品板块如口腔烟草和NJOY电子烟业务表现良好,成为公司未来的主要增长动力[6] - Altria公司的资本结构保持稳健,维持投资级信用评级是公司的优先考虑[6] 公司概况 - Altria公司是一家拥有10年投资银行从业经验的资深研究分析师所关注的对象[3] - 公司股价在今年迄今为止上涨了近30%,超越了标普500指数约10个百分点[3] - 公司最近发布了2024年第二季度的财报,市场对此有一定负面反应,但后来股价已经完全收复了跌幅[3] 财务表现 - 2024年第二季度,公司的调整后每股收益与去年同期持平,符合管理层的指引[6] - 公司预计下半年的收益增长将在2.5%-4%之间,与英美烟草公司的情况一致,与行业库存周期和下半年多两个交货日有关[6] - 烟草产品业务的调整后营业收入下降2%,但考虑到国内香烟销量下降13%,这个跌幅可以被视为较为稳健的表现[6] - 口腔烟草产品和NJOY电子烟业务表现良好,为公司未来的增长提供支撑[6] - 公司的资本结构保持稳健,债务/EBITDA维持在2.1倍的水平[6] 投资评级调整 - 由于自己最初看好Altria的理由已经实现,且估值已经略有上升,分析师决定不再增加对Altria的投资头寸,而是将资金转移到英美烟草公司[8] - 分析师给予Altria公司"持有"的评级[8]

prchaec Things have been going quite well for shareholders of tobacco giant Altria Group, Inc. (NYSE:MO). Since I last rated the company a “hold” back in late April of this year, shares have skyrocketed by 15.3%. That's almost double the 8.6% increase seen by the S&P 500 (SP500) over the same window of time. This upside is also even though, on July 31st, shares declined by 3.1%. This was in response to management reporting financial results for the second quarter of the 2024 fiscal year. Revenue and adj ...

Altria Group NYSE: MO is one of the world’s “Big Three” tobacco companies and is in the consumer staples sector. Let's examine the firm’s business segments and the state of the cigarette market. We'll then review its Q2 2024 earnings report and examine the company’s growth areas.Get Altria Group alerts:Altria's Segments: Smokeable Products DominateAltria Group TodayMOAltria Group$49.67 +0.66 (+1.35%) 52-Week Range$39.06▼$50.85Dividend Yield7.89%P/E Ratio10.39Price Target$47.10Add to WatchlistAltria divides ...

业绩总结 - Altria在2024年第二季度和上半年的电话会议中公布了调整后的每股收益为1.31美元，与去年同期持平[46] - Altria预计2024年全年调整后的每股收益将在5.07至5.15美元之间，同比增长2.5%至4.0%[51] - NJOY在第二季度取得了强劲的成绩，消费品销售量增长至14.3百万，设备销售量增长至1.8百万[7] - NJOY在零售市场的消费品份额增长了1.3个百分点，达到5.5百万[9] - NJOY在设备市场份额增长了13.8个百分点，达到25.4百万[11] - on!口腔烟草产品在第二季度的销售量增长了37.3%，达到41.2百万罐[32] - on!口腔烟草产品在口腔烟草类别中的份额增长了1.2个百分点，达到8.1%[38] - on! PLUS在瑞典和英国的国际市场表现良好，被视为尼古丁袋市场的竞争对手[41] - Altria的烟草产品部门在第二季度的调整后运营公司收入为2827百万美元，较去年同期略有下降[56] - Altria的烟草产品部门在第二季度的调整后运营公司收入率为61.6%，较去年同期提高了1.2个百分点[61] - 完成了24年第二季度24亿美元的加速股份回购计划[89] - 第一半年度支付了34亿美元的股息[90] - 截至2024年6月30日，债务与EBITDA比率为2.1倍[91]

KanawatTH Introduction & Investment Thesis Once again, let's start with a statement: I own a certain stake in Altria Group (NYSE:MO). I recently published an MO article and stated that it was a 'hold' for me. To emphasize further - I didn't, and I don't intend to sell my position. Since publication, the stock price has increased by ~5.4%. On July 31st, Altria Group reported its Q2 2024 results, which led to a stock price decrease of ~3%. In this article, I examine MO's business development during the la ...

文章核心观点 - 雪茄烟公司Altria的股价在最近的季度财报发布后下跌4.3% [1][2] - 公司的二季度业绩未达市场预期,调整后每股收益为1.31美元,低于分析师预期的1.34美元 [3] - 公司的烟草产品销量持续下滑,是拖累收入的主要因素 [4][5] 公司表现分析 - 公司口腔烟草产品收入同比增长5%至6.87亿美元 [4] - 烟草产品收入同比下降4%至45.9亿美元,主要受卷烟销量下降13%的影响 [5] - 公司全年调整后每股收益预期为5.07-5.15美元,增长2.5%-4%,主要来自下半年表现 [6] 投资评级 - 目前公司股价仅为预期今年每股收益的9.5倍,股息率达8.1% [7] - 对于寻求防御性强且有高股息的投资者而言,公司股票可能是不错的投资选择 [7]

财务数据和关键指标变化 - 公司2024年二季度和上半年的调整后每股收益保持不变和下降1.6% [31] - 公司预计2024年全年调整后每股收益增长2.5%至4% [31] 各条业务线数据和关键指标变化 - 传统烟草业务二季度和上半年调整后营业利润下降2%和2.3% [34] - 马尔博罗二季度零售市场份额42%,与上年同期和上季度持平 [36] - 雪茄业务二季度出货量下降0.9% [39] - 口嚼烟业务二季度和上半年调整后营业利润增长1.8%和3.1% [40] - 口嚼烟业务二季度和上半年零售市场份额37.9% [41] 各个市场数据和关键指标变化 - 美国烟草行业二季度和上半年出货量下降9.5%和9% [37][38] - 非法一次性电子烟产品占电子烟市场60%以上,导致烟草行业下滑2%-3% [32][33] 公司战略和发展方向和行业竞争 - 公司继续推进无烟产品战略,NJOY获FDA首个薄荷味电子烟产品授权 [15] - 公司提交NJOY和on!新产品的PMTA申请 [16][29] - 公司积极与监管机构和立法者合作,推动有效执法打击非法电子烟和尼古丁产品 [21][22][23] 管理层对经营环境和未来前景的评论 - 宏观经济压力和非法电子烟产品增长持续影响传统烟草业务 [32][33] - 公司有信心实现全年财务指引,看好无烟产品的长期前景 [9][30] 其他重要信息 - 公司上半年通过加速股票回购和股息支付向股东返还58亿美元 [43] - 公司资产负债表保持稳健,债务/EBITDA比率为2.1倍 [44] 问答环节重要的提问和回答 问题1 **Bonnie Herzog 提问** 公司二季度和上半年传统烟草业务利润未增长的原因 [49][50][51] **Sal Mancuso 回答** 公司正在平衡传统烟草和无烟产品的投资,并采取措施应对消费者经济压力 [51][52][53][54] 问题2 **Callum Elliott 提问** 各州执法进度及其对公司业务的影响 [62][63][64] **Billy Gifford 回答** 各州执法进度不一,公司呼吁联邦政府和各州加大执法力度 [63][64][65] 问题3 **Gaurav Jain 提问** 公司是否看到行业出货量趋势改善的迹象 [76][77] **Billy Gifford 回答** 公司看到一些积极迹象,但仍受到非法电子烟产品影响 [77][78]

Altria Group Inc. (MO) posted second-quarter 2024 results, wherein the bottom line remained flat year over year and came below the Zacks Consensus Estimate. Also, the top line declined from the year-ago quarter’s level. While the company continued to benefit from pricing power, soft cigarette shipment volumes remained a downside. Altria narrowed its bottom-line view for 2024. However, MO is demonstrating solid progress in its mission to transition adult smokers to a smoke-free future. In the second quarter, ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...