Altria: Sit Back And Continue To NJOY The Dividends
Portfolio Pulse from
Altria's Q3 earnings report highlights strong price appreciation driven by growth in NJOY and on! products, despite declining smokeable product volumes. The company mitigated risks with accelerated buybacks.
November 11, 2024 | 1:00 pm
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Altria's Q3 earnings report shows strong growth in NJOY and on! products, offsetting declines in smokeable product volumes. The company also executed accelerated buybacks.
Altria's growth in NJOY and on! products indicates a successful pivot towards non-smokeable products, which is crucial given the decline in smokeable volumes. The accelerated buybacks suggest strong cash flow and commitment to returning value to shareholders, likely boosting short-term stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100