Investor Presentaiton
2021 Full-Year Adjusted Diluted EPS* Guidance
Taking these factors into consideration, we expect to deliver full-year 2021
adjusted diluted EPS* of $4.49 to $4.62. This range represents an adjusted
diluted EPS growth rate of 3% to 6% from a 2020 base of $4.36.
■ Our 2021 EPS guidance incorporates planned investments to drive adult
smoker conversion to noncombustible products, including:
continued marketplace investments to expand the availability and
awareness of our noncombustible products;
building an industry-leading consumer engagement system that enhances
data collection and insights in support of conversion; and
increased noncombustible product research and development.
■ We expect 2021 adjusted diluted EPS growth to come in the last three quarters
of the year, primarily due to prior year comparisons, including one fewer
smokeable products segment shipping day in the first quarter.
*For reconciliations of non-GAAP to GAAP measures visit altria.com.
17 | ALCS | Q4 2020 | 1.28.21 | For Investor Purposes ONLY
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