Altria Group, Inc. has announced its 2020 fourth quarter and full year business results with increased net revenues driven by the smokeable products segment, according to a company press release.

The company's net revenue for the last quarter increased by 4.9 per cent to USD 6.3 billion and by 4.2 per cent to USD 26.2 billion for the full year, primarily driven by higher net revenues in the smokeable products segment. This was partially offset by lower net revenues in all other categories. Revenues net of excise taxes increased 5.3 per cent to USD 5.1 billion for Q4 and 5.3 per cent to USD 20.8 billion for the full year.
For the fourth quarter, reported diluted EPS increased 100+ per cent to USD 1.03, primarily driven by 2019 impairment of JUUL equity securities, higher reported OCI in the smokeable products and oral tobacco products segments, a lower loss in the wine segment and income in 2020 from an increase in the estimated fair value of Altria’s investment in JUUL. For the full year, reported diluted EPS increased 100+ per cent to USD 2.40.
Adjusted diluted EPS decreased 2.0 per cent to USD 0.99 and increased 3.6 per cent to USD 4.36 for the full year.
“Altria delivered outstanding results in 2020 and managed through the challenges presented by the COVID-19 pandemic,” said Billy Gifford, Altria’s Chief Executive Officer. “Our tobacco businesses were resilient and we made steady progress toward our 10-year Vision to responsibly transition adult smokers to a non-combustible future.”
“Our plans for the year ahead include accelerating investments in support of our 10-year Vision, which we expect to fund through the continued financial strength of our tobacco businesses. We expect to deliver 2021 full-year adjusted diluted EPS in a range of USD 4.49 to USD 4.62, representing a growth rate of 3 per cent to 6 per cent from an adjusted diluted EPS base of USD 4.36 in 2020.”