Altria Group, Inc. (NYSE:MO) Q3 2024 Earnings Conference Call October 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 and Chief Financial Officer

Conference Call Participants

Matt Smith - Stifel
Bonnie Herzog - Goldman Sachs
Faham Baig - UBS
Callum Elliott - Bernstein

Operator

Mac Livingston - Vice President of Investor Relations

Billy Gifford - Chief Executive Officer

Sal Mancuso - Chief Financial Officer

Operator

Good day everyone and welcome to the Altria Group 2024 Third Quarter Earnings Conference Call. Today's call is scheduled to last about one hour, including remarks by Altria's management and question-and-answer session. Representatives 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, please go ahead sir.

Mac Livingston

Thanks, Ashley. Good morning and thank you for joining us this morning. Billy Gifford, Altria's CEO, and Sal Mancuso, our CFO, will discuss Altria's third quarter and first nine months 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 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 delivered outstanding results in the third quarter. The smokable products segment delivered solid operating companies income growth behind the resilience of Marlboro. And in the oral tobacco products segment our MST brands continue to drive profitability while on maintaining momentum in the marketplace. We also continue to reward shareholders through our growing dividend and share repurchases while making investments in pursuit of our vision.