Altria Group says 2024 outlook excludes income from AB InBev sale

Altria Group (MO) said, “The 2024 full-year adjusted diluted EPS guidance range excludes estimated net income of approximately $0.2 billion (or $0.12 per share) that we expect to record in the first quarter of 2024 for the partial sale of our investment in ABI (BUD). This estimated net income is subject to certain adjustments, including any exercise of the underwriters’ option to purchase additional shares, adjustments related to the conversion from international financial reporting standards to U.S. generally accepted accounting principles and adjustments required under the equity method of accounting. Additionally, the guidance excludes an estimated per share gain of $1.17 related to the sale of the IQOS Tobacco Heating System commercialization rights that we expect to record in the second quarter of 2024.”