Altria (MO) Q4 2025 Earnings Call Transcript

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Jan. 29, 2026 astatine 9:00 a.m. ET

• Chief Executive Officer — Billy Gifford

• Chief Financial Officer — Salvatore Mancuso

• Investor Relations — Mac Livingston

Billy Gifford, Altria's CEO, and Salvatore Mancuso, our CFO, volition sermon Altria's 2025 4th fourth and afloat twelvemonth concern results. Earlier today, we issued a property merchandise providing our results. The release, presentation, quarterly metrics, and our latest firm work reports are each disposable astatine altria.com. During our telephone today, unless different stated, we are comparing results to the aforesaid play successful 2024. Our remarks incorporate forward-looking statements, including projections of aboriginal results. Please reappraisal the forward-looking and cautionary connection conception astatine the extremity of today's net merchandise for assorted factors that could origin existent results to disagree materially from projections. Future dividend payments and stock repurchases stay taxable to the discretion of our Board of Directors.

We study our fiscal results successful accordance with U.S. Generally Accepted Accounting Principles. Today's telephone volition incorporate assorted operating results connected some a reported and adjusted basis. Adjusted results exclude peculiar items that impact comparisons with reported results. Descriptions of these non-GAAP fiscal measures and reconciliations to the astir comparable GAAP fiscal measures are included successful today's net merchandise and connected our website astatine altria.com. Finally, each references successful today's remarks to nicotine consumers oregon consumers wrong a circumstantial nicotine class oregon conception notation to existing big nicotine consumers 21 years of property oregon older. With that, I'll crook the telephone implicit to Billy.

Billy Gifford: Thanks, Mac. Good morning, and convey you for joining us. 2025 was a twelvemonth of continued momentum for Altria Group, Inc., marked by beardown fiscal performance, strategical advancement crossed our smoke-free portfolio, caller relationships successful enactment of our semipermanent maturation goals, and important currency returns to shareholders. Our starring brands and talented teams enabled our halfway baccy businesses to present coagulated income maturation and borderline enlargement portion we invested successful our vision. For the afloat year, we grew adjusted diluted net per stock by 4.4% and returned $8 cardinal to shareholders done dividends and stock repurchases combined.

As the twelvemonth progressed, we achieved meaningful milestones that we judge beforehand our smoke-free portfolio and presumption america for sustained occurrence successful the U.S. nicotine abstraction and for semipermanent adjacent growth. In 2025, Helix received selling granted orders from the FDA for definite ON PLUS products. Horizon submitted a combined PMTA and MRTPA to the FDA for Plume and Marlboro heated baccy sticks. We entered into a strategical collaboration with KT and G to beforehand planetary modern oral U.S. non-nicotine maturation and accepted baccy operating efficiencies. And we proceed to advocator for a liable and well-regulated marketplace.