Altria Group has reported a strong performance in the first quarter, driven by higher pricing and robust demand for smokeless alternatives. The company's quarterly sales exceeded expectations, while earnings were in line with forecasts. Altria's NJOY product, a smokeless alternative, has seen its store footprint increase by 134% year-over-year, reaching 82,000 stores, with expectations to hit 100,000 by year-end. Additionally, Altria is advocating for stricter FDA action against illegal vapes that compete with its authorized products. Altria's shares were slightly up following the announcement.
Take 2 - The White House reportedly reversed the decision on the proposed plan to ban menthol cigarettes, which are products known to "KILL" people but can't get their act together and make a decision on marijuana; a product doesn't "KILL" people, but it is medicine for millions…
IT’S ALL ABOUT THE VOTES: Coward Joe Biden Puts Off Banning of Menthol Cigarettes Until After the Election via @gatewaypundit https://t.co/CThPWlAd0M
$MO was $52 the day the potential ban news dropped midday. Biden Administration Shelves Plan to Ban Menthol Cigarettes https://t.co/TCqstxW4Ep
#Biden Abandons Disastrous Menthol Prohibition Plan; Now Washington Needs To Embrace Harm Reduction https://t.co/5OfomGqT0X @Tim_Andrews #harmreduction
In a statement, #JoeBiden’s top health official gave no timeline for issuing the rule to potentially ban menthol flavoured cigarettes in the #US https://t.co/zbFEqZZXLQ
Biden finally drops flawed and damaging #menthol ban. But it is not enough to abandon prohibition, Washington needs to become actively pro harm-reduction: https://t.co/tY4kOwzoQV
Menthol Cigarettes Ban Gets Shelved. What It Means for Tobacco Companies. https://t.co/dRdTnDdAg5
We need to ban menthols cigarettes now. https://t.co/GLerJVR8h1
NEW: Biden Panics Over Black Voter Exodus, Drops Menthol Cigarette Ban What an obvious pander ... on an extraneous issue. https://t.co/Lihbrwr8qy
So eventually some democrat admin is gonna ban menthol ciggies. Are there any startups developing droplets of some sort that make non-menthols taste like menthols? Because I’d like to invest.
Citing "immense" feedback and "historic attention," @SecBecerra says talks over @US_FDA's proposed menthol cigarette ban to "take significantly more time" https://t.co/6xOHIfkHMg @WhiteHouse had already overshot self-imposed March date to decide on rule https://t.co/VWw3LGLHLb https://t.co/pQxnxfhm88 https://t.co/VKLcJt0ivf
A few days ago the FDA issued a $20k fine against https://t.co/nI19kRAOjC for selling unauthorized disposable vapes. This is what the website looks like now... sigh🤡🤡🤡 These are $20k fines against companies that are probably selling millions of dollars of product. https://t.co/0tNN1FT8fB
WHITE HOUSE: NO TIMELINE FOR HOW LONG MENTHOL DECISION DELAYED $BTI $MO $PM
I am deeply disappointed that the FDA has chosen to abandon its established plan to ban menthol cigarettes. This is a commonsense plan which could have saved hundreds of thousands of lives. https://t.co/sGVuuvs3ii https://t.co/KDP7aXHAhe
Menthol cigs are back! #Bullish
I’ve never had a single puff of a cigarette. And yet, I fully support Americans who choose to smoke (we all have vices). As such, there’s a HUGE disparity between the WH “delaying” (until after November??) and “dropping” the plan to ban menthol cigarettes. So which is it??? 🇺🇸
NAACP PRESIDENT SAYS TODAY’S NEWS FROM THE BIDEN ADMINISTRATION ON DELAY TO MENTHOL CIGARETTE BAN IS A BLOW TO THE BLACK COMMUNITY
Unsurprising news after several delays to the FDA process: major win for Big Tobacco. Menthol cigarettes account for roughly a quarter of BAT's sales and about a tenth of Imperial Brands'. https://t.co/3XIOmlzFhR
HHS ON MENTHOL CIGARETTE RULE: "IT’S CLEAR THAT THERE ARE STILL MORE CONVERSATIONS TO HAVE, AND THAT WILL TAKE SIGNIFICANTLY MORE TIME.
Democrats allowing black people to buy menthol cigarettes for another 9 months: https://t.co/11kRDmyqpr
The menthol cigarette ban could save thousands of lives per year but has faced intense pushback, writes Clayton Gutzmore for @ThinkGlobalHlth. https://t.co/9Y4pgyorbq
"Biden's poll numbers are so bad, they are walking back the menthol ban" - area pundit, probably https://t.co/sDHOKPAV1V
Since the menthol cig ban is back in the news, here is my favorite title slide from Lorillard back when they were public $LO $RAI $BTI https://t.co/sXhjAv2CEV
A major missed public health opportunity to reduce the death and disease from combustible tobacco and make cigarettes less appealing to youth initiation. https://t.co/fhffbvpL06
President Biden promised to follow the science and data with public health policies. With addictive menthol cigarettes that lead to cancer and death, however, Biden is apparently just following the politics. https://t.co/8oRG2Q4CmS https://t.co/CyImE0weO5
Altria $MO call agenda 1/ Our history with Altria; investment vs. speculation 2/ Breakingof Tobacco earnings algorithm 3/ 24Q1 results headlines & FY24 guide 4/ Why now? FDA, IQOS plans and ZYN 5/ Valuation, what happens next (incl. JT experienc) 6/ Q&A https://t.co/0SndrK5KUm https://t.co/8fszgtBzmO
Altria: Giving Up & Downgrade to Neutral $MO $BTI $PM https://t.co/Hxp3Rl7DSs
Altria $MO Master Settlement Agreement (MSA) costs rose in Q1: CFO: "It was really specific to industry profits. Specifically, one of our major competitors had lower profits than anticipated" Note: British American Tobacco US $BATS $BTI Combustible sales fell 6.4% in $ in 2023 https://t.co/xFJdPfjlws
Altria $MO Master Settlement Costs rose in Q1: CFO: "It was really specific to industry profits. Specifically, one of our major competitors had lower profits than anticipated" Note: British American Tobacco US $BATS $BTI Combustible sales fell 6.4% in $ in 2023 https://t.co/xFJdPfjlws
Altria: Gradually, Then Suddenly? Downgrade to Neutral" $MO revenues, EPS fell in Q1 Cigarette vol. again fell 10% NJOY volume fell q/q, FDA ineffectual IQOS enters US in May, can scale in 2025 8.7x P/E, 9% Dividend, but risk of loss https://t.co/r37IvlgsJa $BATS $BTI $PM $IMB https://t.co/e1AUWZepZ6
Altria: Gradually, Then Suddenly? Downgrade to Neutral" $MO revenues, EPS fell in Q1 Cigarette vol. again fell 10% Oral Tobacco grew modestly NJOY volume fell q/q, FDA ineffectual IQOS enters US in May, can scale in 2025 8.7x P/E, 9% Dividend, but risk of loss… https://t.co/jc1fVFQ3jK
"Altria: Gradually, Then Suddenly? Downgrade to Neutral" $MO revenues, EPS fell in Q1 Cigarette vol. again fell 10% Oral Tobacco grew modestly NJOY volume fell q/q, FDA ineffectual IQOS enters US in May, can scale in 2025 8.7x P/E, 9% Dividend, but risk of loss See profile link… https://t.co/SfotaNnYPv
Perspective. $MO this is 9 Qs for on! vs 6 for ZYN & it's annualized for on! vs TTM for ZYN but sort of wild how much it tracks, albeit much slower. No, I don't think it's going to challenge ZYN. Yes, I do think it shows category growth. I know consumers who prefer on! https://t.co/wpxDPTJCgb https://t.co/kyLkmRVvCc
Altria tops first quarter sales on higher pricing, robust demand for smokeless alternatives https://t.co/2O5XFxgNaA https://t.co/ypNznXg1l3
Smokeless Products Are the Future of Big Tobacco. This Company Is Losing the Race. https://t.co/4S9PyjhxyQ
Decades of dallying led to current delay on menthol ban https://t.co/lAe7owgdtk
$XLP / $XLU still working …. Meanwhile Tobacco continues to fly under the radar … $MO $BTI $PM Good article discussing why menthol ban is probably out this year. And if it doesn’t happen soon, may not happen for several years. 👇 ⬇️…. Long term Equilibrium continues… https://t.co/xidCyOWhse
Altria wants the FDA to crack down harder on illegal vapes that compete with the company's authorized NJOY product https://t.co/iIk4q2Atlu
Altria $MO delivers in-line earnings, revenue in Q1; shares slightly up https://t.co/STV92Dp1x9 https://t.co/7csy1wJLwE
Altria $MO (24Q1 earnings call (live thread) Our research: https://t.co/qfQHI3UGFB CEO Section 1/ "Absence of attractive regulatory environment" (remark in context to NJOY and US market) 2/ NJOY store footprint +134% y/y to 82k stores 100k stores expected by year-end https://t.co/m3Opsgm1b8
⚠️ ALTRIA TOPS FIRST QUARTER SALES ON HIGHER PRICING, ROBUST DEMAND FOR SMOKELESS ALTERNATIVES Full Story → https://t.co/0LthcZcIxs Altria Group topped quarterly sales expectations on Thursday, driven by higher pricing and rising demand for alternatives to conventional… https://t.co/R0XZ7zSbEU