Altria Group Inc

MO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$84.00	Yrg	Bjq

Altria Reports in Line Q2; Headwinds Looming but Tobacco Should Remain Defensive

Philip Gorham

Aug 1, 2022

Altria, the leading U.S. cigarette manufacturer, reported second-quarter results for fiscal 2022 that missed our EBIT forecasts by a whisker. Management maintained guidance for the full year, and we reiterate our $52 per share fair value estimate. Although the economic outlook is darkening in the U.S., Altria may prove to be a relatively safe shelter from commodity cost inflation, and there is upside to our valuation as at the close of business on July 28.

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