CLAIM #42833 · Altria Group (MO) · 2022Q1 earnings call · Apr 28, 2022 · due Dec 31, 2030
“When the project is operational, we expect we will hit those targets ahead of schedule.”
Sal Mancuso · CFO
How to check this claim
Look at: Percentage of purchased electricity from renewable sources and operational greenhouse gas emissions reduction versus baseline, as disclosed in ESG/sustainability reporting
It came true if: 100% renewable electricity achieved and/or 55% GHG emissions reduction achieved before fiscal year 2030 (i.e., ahead of the 2030 target date)
Where: Company ESG/sustainability report or CSR disclosures (altria.com), earnings call commentary
In context
“diluted EPS growth rate of 4% to 7% from $4.61 base in 2021. We continue to expect that 2022 adjusted diluted EPS growth will be weighted toward the second half of the year. Before opening it up to Q&A, I'd like to comment on our recent ESG progress. Whilst harm reduction and underage use remain the most important social issues for our company to address, we have committed to make advancements in other ESG areas. At Altria, we are committed to reducing our environmental impact and recently announced our first virtual power purchase agreement for energy produced by a new wind farm project in Texas. This agreement marks significant progress toward 2 of our science-based environmental targets, achieving 100% renewable electricity and reducing operational greenhouse gas emissions 55% by 2030. When the project is operational, we expect we will hit those targets ahead of schedule. We're proud to support a project that will bring additional renewable energy to the electricity grid, contributing to positive climate action. With that, we'll wrap up, and Billy and I will be happy to take your questions. While the calls are being compiled, I'll remind you that today's earnings release and our non-GAAP reconciliations are available on altria.com. We've also posted our usual quarterly metrics, which include pricing, inventory and other items. Let's open the question-and-answer period. Operator, do we have any questions? Operator: [Operator Instructions]. We will take questions from the investment community first. Our first question comes from Chris Growe from Stifel. Chris Growe: I just had a question for you. You've had -- there's a little bit more of a macro headwind th”
Verify independently
SEC filings for MO ↗ · Claim quote is verbatim from the 2022Q1 earnings call.