- Altria Group is an American corporation and one of the leading players in the tobacco industry, headquartered in Richmond, which has an extensive portfolio of tobacco brands.
- Altria Group’s revenue for the second quarter of 2023 amounted to $5.44 billion, 14.3% more than the previous quarter and 1.3% more than the second quarter of 2022.
- Despite periodic headwinds that temporarily impede the company’s growth in the global e-cigarette and vape market, its management has consistently raised dividend payments for the past 54 years.
- We initiate our coverage of Altria Group with an “outperform” rating for the next 12 months.
Altria Group (NYSE:MO) is an American corporation and one of the leading players in the tobacco industry, headquartered in Richmond, which has an extensive portfolio of tobacco brands such as Marlboro and Black & Mild.
Demand for the company’s cigars and oral tobacco products has grown recently. This helps partially minimize the multibillion-dollar damage from Altria Group’s disastrous investment in Juul Labs. Since Altria acquired a 35% stake in Juul, the deal has only caused significant headaches for the tobacco giant. The e-cigarette maker’s initial dominance fizzled out in a relatively short period due to intense public and regulatory scrutiny stemming from increased consumption of its products among youth. As a result, from 2020 to 2022, the FDA gradually banned the sale of the company’s vaping devices and capsules.
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