Altria Presents at the Consumer Analyst Group of New York Conference;
Reaffirms 2013 EPS Guidance
RICHMOND, Va. -- February 19, 2013
Altria Group, Inc. (Altria) (NYSE: MO) is participating in the Consumer
Analyst Group of New York Conference in Boca Raton, Florida today. Marty
Barrington, Altria's Chairman and Chief Executive Officer, and other members
of the Altria management team will highlight the strengths of Altria's diverse
business model and discuss Altria's core strategies to create long-term value
The presentation is being webcast live at altria.com in a listen-only mode,
beginning at approximately 1:45 p.m., Eastern Time. A copy of the business
presentation and remarks, and a replay of the audio webcast of the remarks,
will be available at altria.com.
2013 Full-Year EPS Guidance
Altria reaffirms its 2013 full-year guidance for reported diluted earnings per
share (EPS) in a range of $2.34 to $2.40. The forecast reflects estimated
SABMiller plc (SABMiller) special items. The forecast does not reflect the
potential impact of Philip Morris USA Inc.'s (PM USA) previously announced
agreement to resolve disputes related to the Non-Participating Manufacturer
adjustment provisions of the Master Settlement Agreement. Altria also
reaffirms its 2013 full-year guidance for adjusted diluted EPS, which excludes
special items shown in the table below, in a range of $2.35 to $2.41,
representing a growth rate of 6% to 9% from an adjusted diluted EPS base of
$2.21 per share in 2012.
The factors described in the Forward-Looking and Cautionary Statements section
of this release represent continuing risks to this forecast. Reconciliations
of full-year adjusted to reported diluted EPS are shown in the table below.
Altria's Full-Year Earnings Per Share Guidance Excluding Special Items
2013 2012 Change
$2.34 14% to
Reported diluted EPS to $ 2.06 17%
Loss on early
extinguishment of — 0.28
exit and — 0.01
SABMiller special 0.01 (0.08 )
PMCC leveraged lease — (0.03 )
Tax items* — (0.03 )
$2.35 6% to
Adjusted diluted EPS to $ 2.21 9%
* Excludes the tax impact of the PMCC leveraged lease benefit.
Altria directly or indirectly owns 100% of each of PM USA, U.S. Smokeless
Tobacco Company LLC (USSTC), John Middleton Co. (Middleton), Ste. Michelle
Wine Estates Ltd. (Ste. Michelle) and Philip Morris Capital Corporation
(PMCC). Altria holds a continuing economic and voting interest in SABMiller.
The brand portfolios of Altria's tobacco operating companies include such
well-known names as Marlboro, Copenhagen, Skoal and Black & Mild. Ste.
Michelle produces and markets premium wines sold under various labels,
including Chateau Ste. Michelle, Columbia Crest and Stag's Leap Wine Cellars,
and it exclusively distributes and markets Antinori, Champagne Nicolas
Feuillatte and Villa Maria Estate products in the United States. Trademarks
and service marks related to Altria referenced in this release are the
property of, or licensed by, Altria or its subsidiaries. More information
about Altria is available at altria.com.
Forward-Looking and Cautionary Statements
This press release and today's remarks contain projections of future results
and other forward-looking statements that involve a number of risks and
uncertainties and are made pursuant to the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995.
Important factors that may cause actual results and outcomes to differ
materially from those contained in the projections and forward-looking
statements included in this press release and today's remarks are described in
Altria's publicly filed reports, including in its Annual Report on Form 10-K
for the year ended December 31, 2011 and its Quarterly Report on Form 10-Q for
the period ended September 30, 2012.
These factors include the following: Altria's tobacco businesses (PM USA,
USSTC and Middleton) being subject to significant competition; changes in
adult consumer preferences and demand for their products; fluctuations in raw
material availability, quality and cost; reliance on key facilities and
suppliers; reliance on critical information systems, many of which are managed
by third-party service providers; fluctuations in levels of customer
inventories; the effects of global, national and local economic and market
conditions; changes to income tax laws; legislation, including actual and
potential federal and state excise tax increases; increasing marketing and
regulatory restrictions; the effects of price increases related to excise tax
increases and concluded tobacco litigation settlements on trade inventories,
consumption rates and consumer preferences within price segments; health
concerns relating to the use of tobacco products and exposure to environmental
tobacco smoke; privately imposed smoking restrictions; and, from time to time,
Furthermore, the results of Altria's tobacco businesses are dependent upon
their continued ability to promote brand equity successfully; to anticipate
and respond to evolving adult consumer preferences; to develop new products
and markets within and potentially outside the United States; to broaden brand
portfolios in order to compete effectively; and to improve productivity.
Altria and its tobacco businesses are also subject to federal, state and local
government regulation, including broad-based regulation of PM USA and USSTC by
the U.S. Food and Drug Administration. Altria and its subsidiaries continue to
be subject to litigation, including risks associated with adverse jury and
judicial determinations, courts reaching conclusions at variance with the
companies' understanding of applicable law, bonding requirements in the
limited number of jurisdictions that do not limit the dollar amount of appeal
bonds and certain challenges to bond cap statutes.
Altria cautions that the foregoing list of important factors is not complete
and does not undertake to update any forward-looking statements that it may
make except as required by applicable law. All subsequent written and oral
forward-looking statements attributable to Altria or any person acting on its
behalf are expressly qualified in their entirety by the cautionary statements
Altria Client Services
Investor Relations, 804-484-8222
Media Relations, 804-484-8897
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