Altria Director George Muñoz Retires

By Greg Peters • Thursday, October 09 10:23 • Permanent Link

Altria Group, Inc. announced the retirement of Director George Muñoz from its Board of Directors following the completion of his current term. George Muñoz, who has been a director of Altria since 2004, will not stand for re-election at the 2026 Annual Meeting of Shareholders. During his tenure, Mr. Muñoz served as Chair of the Compensation and Talent Development Committee and as a member of the Audit, Executive, and Finance Committees, previously holding the position of Chair of the Audit Committee.

Altria Group, Inc. is a leading provider of tobacco products for U.S. consumers aged 21 and above, with a focus on transitioning adult smokers to a smoke-free future. Its portfolio includes both combustible and smoke-free products, with wholly-owned subsidiaries such as Philip Morris USA Inc., John Middleton Co., U.S. Smokeless Tobacco Company LLC, Helix Innovations LLC, and NJOY, LLC. The company also has a majority-owned joint venture, Horizon Innovations LLC, and equity investments in Anheuser-Busch InBev SA/NV and Cronos Group Inc.

In terms of financial performance, Altria Group, Inc. reported the following key metrics for the most recent period:

Revenue: $6.8 billion, representing a 2% decrease compared to the same period last year.
Operating Income: $2.3 billion, showing a 4% decline from the previous period.
Net Income: $1.5 billion, reflecting a 3% decrease year-over-year.
Earnings Per Share (EPS): $0.80, down by 4% compared to the prior period.
Cash and Cash Equivalents: $1.1 billion, marking a 7% decrease from the last reporting period.
Total Assets: $35.6 billion, indicating a 2% decrease compared to the same period last year.
Total Liabilities: $29.8 billion, showing a 3% decrease from the previous year.

These figures demonstrate a mixed financial performance for Altria Group, Inc. with declines in revenue, operating income, net income, and EPS, while also experiencing reductions in cash and cash equivalents, as well as total assets and liabilities. This may indicate potential challenges or shifts within the company's operations and the broader market landscape. Following these announcements, the company's shares moved -1.84%, and are now trading at a price of $65.42. Check out the company's full 8-K submission here.

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