01—Abstract
Summary
Summary of the 10-K/A filed June 5, 2024. Cited figures are marked; the original filing is the authoritative source.
Altria Group, Inc.'s 10-K/A filing on June 4, 2024, for the period ending December 30, 2023, primarily serves as an amendment.
The key takeaway for investors from this filing is the incorporation by reference of the ABI Financial Statements and the independent auditor's report from PwC Bedrijfsrevisoren BV. These financial statements, detailed in Exhibit 99.3, provide the audited financial performance for Altria for the fiscal year 2023, reflecting the company's financial health and operational results. While this amendment doesn't introduce significant new operational details or strategic shifts, it formalizes the inclusion of these crucial financial disclosures.
Investors should carefully review Exhibit 99.3 for comprehensive financial data, including revenue, profitability, balance sheet information, and cash flows, which are essential for evaluating the company's performance and investment potential. The filing also includes the consent of the independent registered public accounting firm, PwC Bedrijfsrevisoren BV, reinforcing the integrity of the financial reporting.
02—Key points
Key Highlights
- The filing is an amendment (10-K/A) to Altria Group's 2023 annual report.
- Key financial statements and auditor's report for ABI are incorporated by reference from Exhibit 99.3.
- The auditor's report is from PwC Bedrijfsrevisoren BV (PCAOB ID: 1350).
- The amendment includes the consent of PwC Bedrijfsrevisoren BV, independent registered public accounting firm.
- This filing primarily formalizes the inclusion of audited financial information rather than introducing new strategic or operational updates.
- Investors are directed to Exhibit 99.3 for detailed financial performance of ABI for the period ending December 30, 2023.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2023, Altria Group, Inc. kept $0.33.
- Revenue$24.48B100.0%
- Cost of revenue−$10.20B41.7%
- Gross profit$14.28B58.3%
- Operating costs−$2.74B11.2%
- Operating income$11.55B47.2%
- Interest, other & tax−$3.42B14.0%
- Net income$8.13B33.2%
Where FY2023 revenue went
$24.48B- Net income: $8.13B, 33% of revenue
- Other operating costs: $6.50B, 27% of revenue
- Cost of revenue: $6.22B, 25% of revenue
- Interest, other & tax: $3.42B, 14% of revenue
- R&D: $220.0M, 0.9% of revenue
Kept 33% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2023filed June 5, 2024Financial Statements
FY2023 against FY2022
| Line item | FY2023FY2022 | Change |
|---|---|---|
| Revenue | $24.48B$25.10B | −2.4% |
| Cost of Revenue | $6.22B$6.44B | −3.5% |
| Gross Profit | $14.28B$14.25B | +0.3% |
| R&D Expenses | $220.00M$162.00M | +35.8% |
| Operating Income | $11.55B$11.92B | −3.1% |
| Interest Expense | $1.15B$1.13B | +1.9% |
| Net Income | $8.13B$5.76B | +41.0% |
| EPS (Basic) | $4.57$3.19 | +43.3% |
| EPS (Diluted) | $4.57$3.19 | +43.3% |
| Shares Outstanding (Basic) | 1.78B1.80B | −1.5% |
| Shares Outstanding (Diluted) | 1.78B1.80B | −1.5% |
05—Questions
Frequently Asked Questions
What is the primary purpose of this 10-K/A filing?
The primary purpose of this 10-K/A filing is to amend the previously filed annual report by incorporating by reference the ABI Financial Statements and the independent auditor's report found in Exhibit 99.3. It formally includes these crucial audited financial disclosures.
Where can I find the audited financial results for Altria for 2023?
The audited financial results for ABI (part of Altria Group) for the period ending December 30, 2023, are incorporated by reference and can be found in Exhibit 99.3 of this 10-K/A filing.
Who audited Altria's financial statements?
Altria's financial statements were audited by PwC Bedrijfsrevisoren BV / Reviseurs d’Entreprises SRL, a registered public accounting firm with PCAOB ID: 1350.
Does this filing contain new strategic information or business updates?
This particular filing (10-K/A) is primarily focused on amending and incorporating financial statements. It does not appear to introduce significant new strategic information or operational updates beyond the inclusion of the audited financial data.
06—Continue