Altria Group, Inc. (NYSE:MO) Q2 2024 Earnings Conference Call July 31, 2024 9:00 AM ET

Company Participants

Mac Livingston - Vice President of Investor Relations
Billy Gifford - Chief Executive Officer
Sal Mancuso - Executive Vice President & Chief Financial Officer

Conference Call Participants

Bonnie Herzog - Goldman Sachs
Matt Smith - Stifel
Callum Elliott - Bernstein
Faham Baig - UBS
Gaurav Jain - Barclays
Owen Bennett - Jefferies

Operator

Good day everyone and welcome to the Altria Group 2024 Second Quarter and First Half Earnings Conference Call. Today's call is scheduled to last about one hour, including remarks by Altria's management and a question-and-answer session representative of the investment community and media on the call will be able to ask questions following the conclusion of the prepared remarks.

I would now like to turn the call over to Mac Livingston, Vice President of Investor Relations for Altria Client Services. Please go ahead, sir.

Mac Livingston

Thanks, Savannah [ph]. Good morning and thank you for joining us. This morning, Billy Gifford, Altria's CEO; and Sal Mancuso, our CFO, will discuss Altria's second quarter and first half business results. Earlier today, we issued a press release providing our results. The release, presentation, quarterly metrics and our latest corporate responsibility reports are all available at altria.com.

During our call today, unless otherwise stated, we're comparing results to the same period in 2023. Our remarks contain forward-looking and cautionary statements and projections of future results. Please review the forward-looking and cautionary statements section at the end of today's earnings release for various factors that could cause actual results to differ materially from projections. Future dividend payments and share repurchases remain subject to the discretion of our Board of Directors. We report our financial results in accordance with U.S. generally accepted accounting principles. Today's call will contain various operating results on both a reported and adjusted basis. Adjusted results exclude special items that affect comparisons with reported results. Descriptions of these non-GAAP financial measures and reconciliations are included in today's earnings release and on our website at altria.com. Finally, all references in today's remarks to tobacco consumers or consumers within a specific tobacco category or segment refer to existing adult tobacco consumers 21 years of age or older.

With that, I'll turn the call over to Billy.

Billy Gifford

Thanks, Mac. Good morning and thank you for joining us. Altria's momentum continues to build as we pursue our vision to responsibly lead the transition of adult smokers to a smoke-free future. In the second quarter, our company's innovative smoke-free products delivered strong share and volume performance. And we hit meaningful milestones that we believe set us up for future success.