Altria issues fresh profit outlook as it closes NJoy acquisition

Altria Group Inc. MO said Thursday it expects 2023 adjusted profit of $4.89 to $5.03 a share, compared to the FactSet analyst projection of $5.05 a share. Altria said it has closed its NJoy acquisition with $2.75 billion in cash payments. It’s identified 70,000 U.S. retail stores for its initial expansion effort for its NJoy Ace product, which it describes as “currently the only pod-based e-vapor product to receive marketing authorization from the Food and Drug Administration.” Altria stock is up 0.3% in premarket trades on Thursday.

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