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ALTRIA GROUP, INC. 8-K Report, Financial Results (Feb 1, 2023)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed February 1, 2023
Period End
January 31, 2023
Security
MO
In the record · 2016–202610-K2110-Q328-K143

MO filed 21 annual reports (10-K), 32 quarterly reports (10-Q) and 143 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Oct ’16Oct ’16
  2. Leadership change8-K · Feb ’20Feb ’20
  3. Leadership change8-K · Feb ’22Feb ’22
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed February 1, 2023. Cited figures are marked; the original filing is the authoritative source.

Altria Group, Inc. (MO) has filed an 8-K report detailing its 2022 financial results and a significant capital allocation decision.

The company announced its financial results for the year ended December 31, 2022, via a press release furnished with this filing. While specific performance metrics for 2022 are not detailed within the 8-K itself, this release is crucial for investors to understand the company's recent operational performance and financial standing. Furthermore, Altria's Board of Directors has authorized a new $1 billiona share repurchase program.

This demonstrates a commitment by management to return capital to shareholders and suggests confidence in the company's valuation and future prospects. The timing and execution of these repurchases will be contingent on market conditions and other factors, providing flexibility for the company.

02—Key points

Key Highlights

  1. Altria Group announced its 2022 financial results via a press release filed with the 8-K.
  2. A new $1 billion share repurchase program has been authorized by the Board of Directors.
  3. The share repurchase program offers management flexibility in its timing based on market conditions.
  4. The company is signaling a commitment to returning capital to shareholders.
  5. The filing incorporates by reference the press release containing the 2022 financial results.

03—Questions

Frequently Asked Questions

  1. What were Altria's key financial results for 2022?

    The 8-K filing references a press release (Exhibit 99.1) dated February 1, 2023, which contains the company's financial results for the year ended December 31, 2022. Investors should refer to this press release for specific details on revenue, earnings, and other key performance indicators.

  2. What is the size and purpose of the new share repurchase program?

    Altria's Board of Directors has authorized a new share repurchase program with a total value of $1 billion. This program is intended to return capital to shareholders and may be used to offset dilution from stock-based compensation or to reduce the number of outstanding shares, thereby potentially increasing earnings per share.

  3. When will Altria begin repurchasing shares under the new program?

    The timing of the share repurchases is subject to marketplace conditions and other factors, and the program remains at the discretion of the Board. Altria has not provided a specific start date or timeline for the execution of the $1 billion repurchase program.

  4. Does this 8-K filing include detailed financial statements for 2022?

    No, this specific 8-K filing primarily announces the results and the share repurchase program. The detailed financial results for 2022 are contained within the press release (Exhibit 99.1) that is furnished with this report. Investors should review that press release for comprehensive financial data.

04—Continue

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