Subtext

Altria Group, Inc. MO

SectorConsumer Staples
Transcripts73
Date range2006-10-26 – 2025-04-29
Calls charted72

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-14-7+0+7+142006 Q32009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12006 Q3 · Overall: -7.42007 Q3 · Overall: +0.32007 Q4 · Overall: +4.62008 Q1 · Overall: +1.02008 Q2 · Overall: -1.82008 Q3 · Overall: -4.42008 Q4 · Overall: +2.52009 Q1 · Overall: -2.52009 Q2 · Overall: +0.82009 Q3 · Overall: +0.22009 Q4 · Overall: +6.52010 Q1 · Overall: +8.02010 Q2 · Overall: +2.72010 Q3 · Overall: +2.52010 Q4 · Overall: +1.82011 Q1 · Overall: -1.32011 Q2 · Overall: -0.92011 Q3 · Overall: -2.62011 Q4 · Overall: +0.32012 Q1 · Overall: +2.92012 Q2 · Overall: +2.62012 Q3 · Overall: +2.62012 Q4 · Overall: +6.12013 Q1 · Overall: -0.92013 Q2 · Overall: +3.02013 Q3 · Overall: +4.62013 Q4 · Overall: +10.32014 Q1 · Overall: +5.02014 Q2 · Overall: +8.62014 Q3 · Overall: +6.92014 Q4 · Overall: +12.12015 Q1 · Overall: +5.82015 Q2 · Overall: +10.92015 Q3 · Overall: +7.92015 Q4 · Overall: +2.12016 Q1 · Overall: +7.42016 Q2 · Overall: +0.02016 Q3 · Overall: +2.22016 Q4 · Overall: +6.82017 Q1 · Overall: +0.72017 Q2 · Overall: -2.32017 Q3 · Overall: +0.22017 Q4 · Overall: +4.52018 Q1 · Overall: +3.72018 Q2 · Overall: +2.42018 Q3 · Overall: +4.92018 Q4 · Overall: +1.02019 Q1 · Overall: +0.42019 Q2 · Overall: +5.12019 Q3 · Overall: +3.82019 Q4 · Overall: -2.42020 Q1 · Overall: -0.72020 Q2 · Overall: +9.42020 Q3 · Overall: +8.12020 Q4 · Overall: +9.82021 Q1 · Overall: +3.52021 Q2 · Overall: +4.92021 Q3 · Overall: +1.62021 Q4 · Overall: +1.62022 Q1 · Overall: +1.02022 Q2 · Overall: +3.72022 Q3 · Overall: +7.32022 Q4 · Overall: +5.92023 Q1 · Overall: -4.42023 Q2 · Overall: +3.12023 Q3 · Overall: +3.12023 Q4 · Overall: -1.72024 Q1 · Overall: -3.72024 Q2 · Overall: -6.12024 Q3 · Overall: +0.92024 Q4 · Overall: -1.92025 Q1 · Overall: -2.1
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-26-13+0+13+262006 Q32009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12006 Q3 · CEO: -8.72007 Q4 · CEO: +9.82008 Q3 · CEO: -1.22009 Q1 · CEO: -0.52009 Q2 · CEO: +8.32009 Q3 · CEO: +2.62009 Q4 · CEO: +8.82010 Q1 · CEO: +10.22010 Q2 · CEO: +6.12010 Q3 · CEO: +11.12010 Q4 · CEO: +10.62011 Q1 · CEO: +5.62011 Q2 · CEO: +3.92011 Q3 · CEO: +0.62011 Q4 · CEO: +7.62012 Q1 · CEO: +9.22012 Q2 · CEO: +11.72012 Q3 · CEO: +10.12012 Q4 · CEO: +11.02013 Q1 · CEO: +4.02013 Q2 · CEO: +10.72013 Q3 · CEO: +8.62013 Q4 · CEO: +22.32014 Q1 · CEO: +13.32014 Q2 · CEO: +19.82014 Q3 · CEO: +14.02014 Q4 · CEO: +22.02015 Q1 · CEO: +13.02015 Q4 · CEO: +8.82016 Q3 · CEO: +15.72016 Q4 · CEO: +19.52017 Q1 · CEO: +9.52017 Q2 · CEO: +3.12017 Q3 · CEO: +6.52017 Q4 · CEO: +15.92018 Q1 · CEO: +12.52018 Q2 · CEO: +9.22018 Q3 · CEO: +6.52018 Q4 · CEO: +3.52019 Q1 · CEO: +1.72019 Q2 · CEO: +9.42019 Q3 · CEO: +8.32019 Q4 · CEO: +3.32020 Q1 · CEO: +2.32020 Q2 · CEO: +13.32020 Q3 · CEO: +10.82020 Q4 · CEO: +18.02021 Q1 · CEO: +7.82021 Q2 · CEO: +7.82021 Q3 · CEO: +10.12021 Q4 · CEO: +7.12022 Q1 · CEO: +3.52022 Q2 · CEO: +10.82022 Q3 · CEO: +17.52022 Q4 · CEO: +13.72023 Q1 · CEO: +0.02023 Q2 · CEO: +7.82023 Q3 · CEO: +7.82023 Q4 · CEO: +2.12024 Q1 · CEO: +10.32024 Q2 · CEO: -7.22024 Q3 · CEO: +3.52024 Q4 · CEO: -3.72025 Q1 · CEO: -1.52006 Q3 · CFO: -5.02007 Q3 · CFO: +1.82008 Q1 · CFO: +6.02008 Q2 · CFO: +2.72008 Q3 · CFO: +2.92008 Q4 · CFO: +6.82009 Q1 · CFO: +3.02009 Q2 · CFO: -8.62009 Q3 · CFO: +3.72009 Q4 · CFO: +8.92010 Q1 · CFO: +12.12010 Q2 · CFO: +1.02010 Q3 · CFO: +0.02010 Q4 · CFO: -9.62011 Q1 · CFO: -7.12011 Q2 · CFO: -2.02011 Q3 · CFO: -1.12011 Q4 · CFO: -8.42012 Q1 · CFO: +0.82012 Q2 · CFO: +1.12012 Q3 · CFO: +3.52012 Q4 · CFO: +1.02013 Q1 · CFO: +5.32013 Q2 · CFO: +1.32013 Q3 · CFO: +3.92013 Q4 · CFO: +4.52014 Q1 · CFO: -20.82014 Q2 · CFO: +6.12014 Q3 · CFO: +8.52014 Q4 · CFO: +6.32015 Q1 · CFO: +6.32015 Q3 · CFO: +3.22015 Q4 · CFO: -2.82016 Q1 · CFO: +2.52016 Q2 · CFO: -7.42016 Q3 · CFO: -6.02016 Q4 · CFO: -7.82017 Q1 · CFO: -15.12017 Q2 · CFO: -12.22017 Q3 · CFO: -8.22017 Q4 · CFO: -17.62018 Q3 · CFO: +13.02018 Q4 · CFO: +8.12019 Q1 · CFO: +8.22019 Q2 · CFO: +12.42019 Q3 · CFO: +5.82019 Q4 · CFO: +0.52020 Q1 · CFO: +7.82020 Q2 · CFO: +17.82020 Q3 · CFO: +14.82020 Q4 · CFO: +14.42021 Q1 · CFO: +7.82021 Q2 · CFO: +5.72021 Q3 · CFO: +2.92021 Q4 · CFO: +5.92022 Q1 · CFO: +1.52022 Q2 · CFO: +1.42022 Q3 · CFO: +5.62022 Q4 · CFO: +4.82023 Q1 · CFO: -12.22023 Q2 · CFO: -5.92023 Q3 · CFO: +0.02023 Q4 · CFO: -4.82024 Q1 · CFO: +19.62024 Q2 · CFO: +3.42024 Q3 · CFO: -0.72024 Q4 · CFO: +3.02025 Q1 · CFO: +2.6
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-29-14+0+14+292006 Q32009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12006 Q3 · Prepared remarks: -4.72007 Q3 · Prepared remarks: +3.62007 Q4 · Prepared remarks: +18.12008 Q1 · Prepared remarks: +4.72008 Q2 · Prepared remarks: +6.22008 Q3 · Prepared remarks: +2.32008 Q4 · Prepared remarks: +6.32009 Q1 · Prepared remarks: +3.02009 Q2 · Prepared remarks: -1.52009 Q3 · Prepared remarks: +5.32009 Q4 · Prepared remarks: +10.02010 Q1 · Prepared remarks: +9.72010 Q2 · Prepared remarks: +6.42010 Q3 · Prepared remarks: +9.22010 Q4 · Prepared remarks: +1.62011 Q1 · Prepared remarks: +2.32011 Q2 · Prepared remarks: +6.72011 Q3 · Prepared remarks: +2.02011 Q4 · Prepared remarks: +6.72012 Q1 · Prepared remarks: +15.72012 Q2 · Prepared remarks: +11.12012 Q3 · Prepared remarks: +11.72012 Q4 · Prepared remarks: +9.02013 Q1 · Prepared remarks: +8.52013 Q2 · Prepared remarks: +1.52013 Q3 · Prepared remarks: +6.72013 Q4 · Prepared remarks: +15.32014 Q1 · Prepared remarks: +18.32014 Q2 · Prepared remarks: +15.02014 Q3 · Prepared remarks: +11.52014 Q4 · Prepared remarks: +18.32015 Q1 · Prepared remarks: +13.82015 Q2 · Prepared remarks: +20.62015 Q3 · Prepared remarks: +17.82015 Q4 · Prepared remarks: +10.72016 Q1 · Prepared remarks: +18.82016 Q2 · Prepared remarks: +6.12016 Q3 · Prepared remarks: +13.32016 Q4 · Prepared remarks: +25.02017 Q1 · Prepared remarks: -10.02017 Q2 · Prepared remarks: -7.32017 Q3 · Prepared remarks: +1.22017 Q4 · Prepared remarks: +11.62018 Q1 · Prepared remarks: +8.22018 Q2 · Prepared remarks: +11.32018 Q3 · Prepared remarks: +6.82018 Q4 · Prepared remarks: +5.62019 Q1 · Prepared remarks: +1.82019 Q2 · Prepared remarks: +13.02019 Q3 · Prepared remarks: +13.92019 Q4 · Prepared remarks: +4.52020 Q1 · Prepared remarks: -0.62020 Q2 · Prepared remarks: +14.62020 Q3 · Prepared remarks: +10.22020 Q4 · Prepared remarks: +15.22021 Q1 · Prepared remarks: +4.92021 Q2 · Prepared remarks: +8.92021 Q3 · Prepared remarks: +2.52021 Q4 · Prepared remarks: +7.72022 Q1 · Prepared remarks: -1.22022 Q2 · Prepared remarks: +2.92022 Q3 · Prepared remarks: +10.82022 Q4 · Prepared remarks: +10.92023 Q1 · Prepared remarks: -2.02023 Q2 · Prepared remarks: +1.62023 Q3 · Prepared remarks: +1.62023 Q4 · Prepared remarks: +1.12024 Q1 · Prepared remarks: +6.42024 Q2 · Prepared remarks: -4.02024 Q3 · Prepared remarks: -0.72024 Q4 · Prepared remarks: -3.72025 Q1 · Prepared remarks: -2.22006 Q3 · Q&A responses: -8.12007 Q3 · Q&A responses: +0.82007 Q4 · Q&A responses: +7.02008 Q1 · Q&A responses: +5.22008 Q2 · Q&A responses: +0.02008 Q3 · Q&A responses: -3.62008 Q4 · Q&A responses: +3.22009 Q1 · Q&A responses: -1.32009 Q2 · Q&A responses: +7.12009 Q3 · Q&A responses: +0.42009 Q4 · Q&A responses: +6.42010 Q1 · Q&A responses: +12.12010 Q2 · Q&A responses: +1.42010 Q3 · Q&A responses: +7.02010 Q4 · Q&A responses: +8.42011 Q1 · Q&A responses: +1.22011 Q2 · Q&A responses: -0.32011 Q3 · Q&A responses: -3.22011 Q4 · Q&A responses: -3.42012 Q1 · Q&A responses: +0.32012 Q2 · Q&A responses: +5.22012 Q3 · Q&A responses: +5.22012 Q4 · Q&A responses: +8.22013 Q1 · Q&A responses: +0.02013 Q2 · Q&A responses: +9.62013 Q3 · Q&A responses: +5.42013 Q4 · Q&A responses: +12.52014 Q1 · Q&A responses: +5.52014 Q2 · Q&A responses: +12.32014 Q3 · Q&A responses: +10.92014 Q4 · Q&A responses: +17.02015 Q1 · Q&A responses: +10.52015 Q2 · Q&A responses: +13.32015 Q3 · Q&A responses: +9.52015 Q4 · Q&A responses: +4.52016 Q1 · Q&A responses: +7.52016 Q2 · Q&A responses: +3.52016 Q3 · Q&A responses: +0.02016 Q4 · Q&A responses: +5.02017 Q1 · Q&A responses: +10.02017 Q2 · Q&A responses: +3.52017 Q3 · Q&A responses: +4.22017 Q4 · Q&A responses: +9.02018 Q1 · Q&A responses: +8.82018 Q2 · Q&A responses: +4.42018 Q3 · Q&A responses: +7.92018 Q4 · Q&A responses: +3.52019 Q1 · Q&A responses: +3.72019 Q2 · Q&A responses: +7.32019 Q3 · Q&A responses: +3.62019 Q4 · Q&A responses: -1.32020 Q1 · Q&A responses: +4.82020 Q2 · Q&A responses: +12.62020 Q3 · Q&A responses: +9.62020 Q4 · Q&A responses: +16.82021 Q1 · Q&A responses: +8.12021 Q2 · Q&A responses: +5.42021 Q3 · Q&A responses: +7.32021 Q4 · Q&A responses: +2.52022 Q1 · Q&A responses: +6.12022 Q2 · Q&A responses: +12.92022 Q3 · Q&A responses: +15.62022 Q4 · Q&A responses: +10.42023 Q1 · Q&A responses: -3.22023 Q2 · Q&A responses: +10.02023 Q3 · Q&A responses: +9.02023 Q4 · Q&A responses: -2.22024 Q1 · Q&A responses: +15.32024 Q2 · Q&A responses: -1.72024 Q3 · Q&A responses: +1.92024 Q4 · Q&A responses: +0.82025 Q1 · Q&A responses: +2.8
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$2.40$3.99$5.582006 Q32009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12014 Q1: $2.622014 Q2: $2.662014 Q3: $2.722014 Q4: $2.802015 Q1: $2.852015 Q2: $2.922015 Q3: $2.992015 Q4: $3.062016 Q1: $3.112016 Q2: $3.192016 Q3: $3.262016 Q4: $3.332017 Q1: $3.372017 Q2: $3.422017 Q3: $3.482017 Q4: $3.582018 Q1: $4.082018 Q2: $4.172018 Q3: $4.262018 Q4: $4.322019 Q1: $4.272019 Q2: $4.352019 Q3: $4.422019 Q4: $4.442020 Q1: $4.472020 Q2: $4.382020 Q3: $4.512020 Q4: $4.602021 Q1: $4.662021 Q2: $4.712021 Q3: $4.792021 Q4: $4.842022 Q1: $4.922022 Q2: $4.982022 Q3: $5.032022 Q4: $5.052023 Q1: $5.122023 Q2: $5.092023 Q3: $5.152023 Q4: $5.112024 Q1: $5.112024 Q2: $5.202024 Q3: $5.252024 Q4: $5.36

Forward P/E

7.0815.3423.612006 Q32009 Q32011 Q42014 Q12016 Q22018 Q32020 Q42023 Q12014 Q1: 13.762014 Q2: 15.922014 Q3: 16.402014 Q4: 17.842015 Q1: 18.032015 Q2: 16.662015 Q3: 18.522015 Q4: 19.262016 Q1: 19.972016 Q2: 20.452016 Q3: 19.362016 Q4: 19.802017 Q1: 22.472017 Q2: 22.122017 Q3: 17.982017 Q4: 20.202018 Q1: 15.662018 Q2: 13.772018 Q3: 14.502018 Q4: 11.902019 Q1: 13.152019 Q2: 11.472019 Q3: 9.242019 Q4: 11.572020 Q1: 8.562020 Q2: 9.342020 Q3: 9.262020 Q4: 9.372021 Q1: 10.692021 Q2: 10.072021 Q3: 10.292021 Q4: 9.502022 Q1: 10.432022 Q2: 9.172022 Q3: 8.302022 Q4: 9.332023 Q1: 9.152023 Q2: 8.632023 Q3: 8.692023 Q4: 8.222024 Q1: 8.482024 Q2: 8.622024 Q3: 9.642024 Q4: 9.93

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q1 tone ↓ -6.4 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -3.0 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↓ -5.8 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -7.4 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -6.1 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q2 tone ↓ -3.0 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -3.9 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +10.1 fwd EPS ↓ -0.10 Tone rose while the forward EPS estimate was cut.
  • 2021 Q1 tone ↓ -6.3 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -3.2 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↓ -10.2 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -2.4 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -2.8 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-29-2.1——View →
2024 Q42025-01-30-1.9$5.369.9View →
2024 Q32024-10-31+0.9$5.259.6View →
2024 Q22024-07-31-6.1$5.208.6View →
2024 Q12024-04-25-3.7$5.118.5View →
2023 Q42024-02-01-1.7$5.118.2View →
2023 Q32023-10-26+3.1$5.158.7View →
2023 Q22023-08-01+3.1$5.098.6View →