โ
๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue: $6.13B (+1.0% YoY)
โข Revenue Excluding Excise Taxes: $5.44B (+3.6% YoY)
โข GAAP EPS: $1.51 (+7.1% YoY)
โข Adj. EPS: $1.52 (+4.8% YoY)
โข Smokeable Products Adj. Operating Income: $3.07B (+3.9% YoY)
โข Oral Tobacco Adj. Operating Income: $443M (-3.7% YoY)
โ
๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐ (๐ ๐๐๐)
โข Adj. EPS: $5.66โ$5.74 (+4.5% to +6.0% YoY), raised
โข Dividend Growth Target: Mid-single digits annually through 2028
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Cigarette shipment volume -2.9% YoY; -4% adjusted for inventory movements
โข Marlboro shipments -6.4%; discount cigarette shipments +40.5%
โข Smokeable Products adjusted operating margin reached 64.5%
โข Oral tobacco shipment volume -4.3%; on! shipments +13.3%
โข on! nicotine pouch category share declined 130 bps to 13.5%
โข Board authorized an additional $1B in share repurchases
โข Repurchased $400M in shares during Q3
โข Paid $1.7B in quarterly dividends; annualized dividend $4.44/share
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โOur strong performance through the first nine months and confidence in our full-year plan allowed us to raise our earnings guidance for the year.โ โ CEO Sal Mancuso