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OverviewAPI
Altria Group, parent company of Philip Morris USA, reports declining revenue and cites competition from illicit e-vapor products, narrowing its full-year adjusted EPS guidance. Philip Morris stock performance has been lackluster, trading at 4.3x sales, with concerns over a potential recession impacting near-term growth. The company's strong sales of cigarette alternatives, particularly electronic cigarettes and oral nicotine products, drive its profit forecast raise. However, concerns arise over the slow growth of heated tobacco sticks and the company's plan to reduce combustible revenue.

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