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  • Altria to Host Annual Meeting May 15

    Altria to Host Annual Meeting May 15

    Altria Group, Inc. will host a live audio webcast of its 2025 Annual Meeting of Shareholders May 15, 2025, at 9 a.m. EST. During the meeting, shareholders as of the 2025 Annual Meeting record date (March 25, 2025) will be able to vote their shares electronically and will be able to submit questions during the meeting as time permits. Although shareholders will be able to vote their shares during the meeting, they are encouraged to do so before the meeting using one of the methods described in the 2025 Proxy Statement.

    If you are not a shareholder, you may listen as a guest but cannot participate.

    Directions on how to participate in the meeting are posted at www.altria.com/proxy.

    Instead of a business update presentation at the 2025 Annual Meeting, the company encourages shareholders and guests to review resources before the meeting, available at www.altria.com/investors.

  • Altria Down 5.7% in First Quarter

    Altria Down 5.7% in First Quarter

    Today (April 29), Altria Group, Inc. reported its 2025 first-quarter business results and reaffirmed its guidance for 2025 full-year adjusted diluted earnings per share (EPS).

    “Our highly profitable traditional tobacco businesses performed well in a challenging environment in the first quarter,” said Billy Gifford, Altria’s Chief Executive Officer. “The smokeable products segment delivered solid adjusted operating companies income growth behind the strength of Marlboro. In the oral tobacco products segment, on! maintained momentum in a competitive marketplace as Helix invested strategically behind the brand. And shareholders continued to benefit from strong cash returns through dividends and share repurchases, while we invested in pursuit of our Vision.”

    “We continue to expect to deliver a full-year 2025 adjusted diluted EPS growth rate of 2% to 5% versus 2024. This growth rate represents full-year adjusted diluted EPS in a range of $5.30 to $5.45 from a base of $5.19 in 2024. Our guidance excludes amortization expense associated with definite-lived intangible assets, which was previously included in our adjusted results.”

    Highlights from the report included:

    • Q1 revenue decreased 5.7% to $5.3 billion
    • NJOY U.S. retail share increased 2.4 points to 6.6%
    • Shipments of NJOY ACE were discontinued March 24, per ITC orders
    • Paid $1.7 billion in first-quarter dividends
    • Smokeable domestic shipments decreased 13.7%
    • Net revenues for oral tobacco products increased by 0.5%

    See the full report here.

  • Altria to Host Webcast of 2025 First-Quarter Results

    Altria to Host Webcast of 2025 First-Quarter Results

    Altria Group, Inc. will host a live audio webcast April 29, 2025, at 9 a.m. EST to discuss its 2025 first-quarter business results. Altria will issue a press release containing its business results at approximately 7 a.m. the same day. The webcast can be accessed at altria.com.

    During the webcast, Billy Gifford, Altria’s Chief Executive Officer, and Sal Mancuso, Altria’s Chief Financial Officer, will discuss the Company’s 2025 first-quarter business results and answer questions from the investment community and news media.

    The webcast will be in a listen-only mode. Pre-event registration is necessary; directions are posted at www.altria.com/webcasts. An archived copy of the webcast will be available on altria.com.

  • Arizona Retailers Claim They Were Duped by Altria Rep

    Arizona Retailers Claim They Were Duped by Altria Rep

    Several Arizona e-cigarette retailers claim they were duped into signing a petition to ban flavored vapes in the state by a representative of Altria. Casey Chanda, the manager of a liquor store, told The Arizona Republic that a representative for the tobacco giant showed up at his shop offering a list of flavored vapes that would be banned under a bill being proposed in the state Legislature. Chanda said he was told he had to sign something to receive the list.

    The next day, Chanda said he saw his store was officially registered on the Legislature’s website as being in support of a bill that would allow only the 34 vape devices currently authorized by the U.S. Food and Drug Administration to be sold. Those 34 products are all made by either Altria, R.J. Reynolds, or Japan Tobacco International, The Arizona Republic reported.

    Chanda said he “flipped out” and called his Marlboro rep.

    “I said, ‘Why the f— would I want to stop selling the vapes?’” he said. “‘Do you know how much money I make?’”

    The store is one of nearly 40 liquor and convenience stores that signed “for” Senate Bill 1603 on the Legislature’s “Request to Speak” system, which allows people to add their names and affiliations to support or oppose a bill. The system helps lawmakers decide how to vote on bills.

    Including Chanda, four of five store owners or managers of liquor and convenience stores contacted by The Arizona Republic said they did not intentionally sign up to support the bill.

    Mike Takrouri, owner of Party Stop Market said his Altria rep said the bill would stop the sale of menthol cigarettes. “Then I found it was not about the menthol cigarettes, it was about the vapes,” he said. “I feel like they were not honest from the beginning.” He said he asked the rep to take his name off the Legislature’s site because he’s not in support of the bill, but as of April 7, it was still there.

    Phil Butler, general manager of Chandler Oil One said that during a recent meeting with his Altria rep about the bill, “the way they presented it to me was not right.”

    “I don’t support it,” he said. “When I signed up for it, I wasn’t given all the information on it.

    “It’s Big Tobacco trying to use the legal system to go after these smaller companies, because they’re taking their profits,” he said, adding that his store profits about $2,500 per month on the flavored vape devices, which outsell “Big Tobacco’s” vape products and have a better margin.

    The Arizona Republic said Altria did not respond to requests for comment from the newspaper about these incidents.

  • Juul Cleared in Patent Dispute with Altria

    Juul Cleared in Patent Dispute with Altria

    The U.S. International Trade Commission affirmed a judge’s decision exculpating Juul in an infringement case brought by Altria-owned NJOY over several vaping patents. In January, Administrative Law Judge Doris Johnson Hines found that Juul did not violate Section 337 of the Tariff Act by importing vaping products, which Altria claimed was an infringement on two patents covering vaping technologies.

    In a three-page decision, the ITC reviewed the noninfringement finding to revise a citation in the judge’s initial determination that concluded NJOY “did not satisfy the economic prong of the domestic industry requirement, which requires the complainant to show that it has made significant investment in products protected by the patent,” Theresa Schliep wrote for Law 360.

    Concerning the economic prong, the ITC took “no position on these findings,” the decision said, and the ITC declined to review the remainder of the decision, including the judge’s conclusion that Juul did not violate Section 337.

    The Juul products the ITC investigated were “electronic nicotine delivery systems” and the cartridges or pods that go with them, as well as the pieces that make up the pods, such as “atomizers, subassemblies, devices subassemblies, [and] chargers,” according to court filings.

  • Judge Seals Docs in Juul Case

    Judge Seals Docs in Juul Case

    On Tuesday (Feb. 25), a federal judge in North Carolina granted requests by R.J. Reynolds Vapor Co. and Philip Morris’ parent company, Altria, to seal documents in their ongoing royalty dispute, keeping details of their licensing agreements with the vape brand JUUL confidential.

    “The court ruled that the agreements contained sensitive business information — including financial terms, licensing strategies and negotiation details — that could harm competitive standing, and all six motions to seal were granted,” Andrea Keckley wrote for Law360.

    The court found that an amendment to a licensing agreement between Altria and JUUL and a copy of a licensing agreement between the two were confidential and that disclosing them would “harm the party’s competitive standing or otherwise harm its business interests.” The filings stem RJR’s bid for relief against a $95 million judgement after a jury sided with Altria in a 2022 patent infringement case. The defense has argued that it should receive relief because a deal with Juul sublicensed the asserted patents.

    “Ultimately, however, this court need not decide whether the documents or hearing are protected by the First Amendment’s right of access, because even assuming the First Amendment standard applies, movants have put forth compelling interests in sealing the order and the proposed sealing is narrowly tailored such that the First Amendment right of access has been overcome,” U.S. District Judge William Lindsay Osteen Jr wrote. “Although this court has considered less drastic alternatives to sealing, the parties have already redacted their filings so as to allow public access to as much information as possible without compromising sensitive business information,” he wrote. “It is this court’s view that the parties’ proposed redactions reflect the least drastic alternative at this time.”

  • Montana Judge Denies Attempt to Block Tobacco Lobbyists

    Montana Judge Denies Attempt to Block Tobacco Lobbyists

    A federal judge in Missoula, Montana, denied a state representative’s attempts to block lobbyists from major cigarette manufacturers from engaging lawmakers on his bill, Wednesday (Feb. 26).

    Rep. Ron Marshall, who also owns a vape shop, sued Altria and R.J. Reynolds in federal court earlier this month alleging the companies violated anti-lobbying provisions set out in a 1998 settlement. One of the bills lobbied against was H.B. 149 that would have required vaping products be removed from all-ages retailers like gas stations and sold only in age-restricted locations like liquor stores or vape shops. Marshall sponsored the bill.

    U.S. District Court Judge Dana Christensen found that the settlement agreement forbids the states from assigning any enforcement of those anti-lobbying provisions to a third party. Therefore, Marshall did not have any legal footing to bring the lawsuit against Altria and R.J. Reynolds. The enforcement duties would typically belong to Montana Attorney General Austin Knudsen, but Marshall said Knudsen “would have too great a conflict of interest to take up the case as both Altria and R.J. Reynolds were ‘platinum’ sponsors” of his inauguration party in January.

    After the ruling, Marshall filed and was granted a dismissal of the case.

  • Altria CEO Talks Markets, FDA

    Altria CEO Talks Markets, FDA

    Altria Group, Inc., today (Feb. 19) participated in the Consumer Analyst Group of New York (CAGNY) conference in Orlando, Florida. Billy Gifford, Altria’s Chief Executive Officer, and Sal Mancuso, Altria’s Executive Vice President and Chief Financial Officer, presented and discussed, among many topics, how the company’s traditional tobacco business supports future strategies, long-term growth aspirations, and the general state of the industry.

    Gifford offered the following thoughts:

    On the evolution of the U.S. nicotine market:

    “The potential for tobacco harm reduction in the U.S. is significant, and we believe the opportunity remains in its early stages. Of the nearly 55 million nicotine consumers in the U.S., we estimate that only a third exclusively use a smoke-free format today. However, consumers are transitioning to smoke-free alternatives at a faster pace than ever before.”  

    “Nicotine consumer preferences are rapidly changing. Today’s nicotine consumers want smoke-free products that offer the potential of reduced harm and social friction, and are available in a variety of flavors. In fact, with more products in the market, coming closer to meeting those needs, nicotine volumes increased for the second consecutive year in 2024. And grew by a compounded annual growth rate of about 2% over the past 5 years.”

    “Smoke-free volume growth is now more than offsetting cigarette industry volume decline, demonstrating that consumers are seeking alternatives to cigarettes rather than leaving the nicotine space entirely. The growing adoption of smoke-free products is encouraging and directly aligned with our vision and the growth aspirations of our smoke-free businesses.”

    “Research supports that no single product format or flavor will satisfy all nicotine consumers. To advance harm reduction our strategy is to deliver a portfolio of products across today’s most promising innovative smoke-free platforms: oral nicotine pouches, heated tobacco, and e-vapor.”  

    The oral nicotine market:

    “The oral tobacco category continues to grow, led by nicotine pouches. We estimate that industry volume grew 8.5% last year and included nearly 8 million consumers. In the last 3 years, nicotine pouch consumers have more than tripled and now comprise 3.5 million of those 8 million consumers.”

    “Since 2019, the oral tobacco products segment saw an increase of 2.4% CAGR.”

    Altria’s oral nicotine pouch, On!

    “We’re encouraged by On!’s ability to retain loyal purchasers and expand the consumer base at a higher retail price. Consumer loyalty for On! continues to build. At the end of last year, 800,000 consumers regularly purchased On!, an increase of more than 40% versus the prior year.”

    Smokers switching from combustibles:

    “We believe the science is compelling. Evidence from a large consumer-use study among adult smokers not planning to quit showed that nearly 75% of those who used Ploom had meaningful reductions in cigarette consumption, with nearly one-third completely switching from cigarettes.  

    “We observed that menthol-flavored sticks had a higher switch rate relative to tobacco-flavored sticks. Consumers who switched from combustible to Ploom significantly reduced their exposure to harmful chemicals. Given the low risk of underage use and the strong benefits of switching for adults, we believe Ploom presents a compelling case for authorization by the FDA and we remain optimistic about its potential in the U.S.”

    E-vapor:

    “Our data show consumers transition from cigarettes to e-vapor at over three times the rate of transition from other smoke-free categories. This is an encouraging sign and consistent with our belief that most smokers are looking for satisfying, inhalable alternatives to cigarettes.”

    “Today’s vapors are seeking products that are flavored, come in a convenient form, and offer high-value for a reasonable price.”

    The illicit market:

    “In the absence of FDA authorization of flavored product choices, consumers have turned to the illicit flavors disposable market. We estimate that the e-vapor category grew by about 30% in 2024, driven entirely by illicit products that now represent more than 50% of the category. As we’ve said repeatedly, illicit product growth is concerning. It’s the primary source of underage usage, and with no control of how products are marketed or sold, it is attracting unintended audiences to the nicotine category. In fact, 40% of new entrants to the category in 2024 we not prior smokers. At the same time, the category’s growth is proof that a smoke-free future is possible. Most consumers and society expect a marketplace consisting of an array of FDA-authorized products led by responsible players throughout the value chain. We need a regulatory system that fosters innovation, not one that stifles and slows innovation to the advantage of the illicit market.”

    Altria’s Vision program:

    Achieving our Vision requires four critical elements:

    1. Underage tobacco use continues to decline or remain low
    2. Consumers require accurate information about nicotine
    3. The entire industry operating within a fully enforced, science-based regulatory environment
    4. A variety of satisfying, FDA-authorized products available for adult consumers

    FDA regulation and reported staffing cuts:

    “We need more authorization. The adult cigarette consumer, about half are ready to move to smoke-free if they can find a product that they enjoy and find satisfying. Only 2% of the products have authorization.”

    “We have a good working relationship with the FDA, but as you know they’ve been slow. We hope with a reduction in headcount they will look at their process and make them more efficient. As you see in e-vapor, the consumer is looking for products. They want to go to smoke-free alternatives and we think that’s important for harm reduction to succeed in the U.S. We need more authorizations and at the same time, we need enforcement.”

    “It may slow it down temporarily but at the same time, we would hope the increased efficiency and processes would improve.”

    Click here to view the entire presentation.

    For more than 50 years, CAGNY has been connecting investors, management teams, and the media dedicated to the consumer industry. It asserts to be “the largest not-for-profit of its kind” and hosts various events throughout the year, highlighted by the CAGNY conference in Boca Raton, Florida.

  • Wall Street Likes Big Tobacco

    Wall Street Likes Big Tobacco

    According to Seeking Alpha, a leading financial research firm, U.S.-listed tobacco companies had a successful year of returns in 2024. “The dividend aristocrats Philip Morris, British American Tobacco, and Altria Group rose between 24% and 27.9% last year, compared to S&P 500’s 23.3% gain during that period,” Seeking Alpha wrote.

    Seeking Alpha’s analysts and Wall Street opinions think 2025 will be equally positive for Big Tobacco.

    “On British American Tobacco, the bullishness of SA analysts crossed with one Sell, two Holds, and a Buy recommendation of sell-side analysts. Similarly, Altria Group got a resounding Buy from Seeking Alpha analysts compared to a wide spectrum of opinions on Wall Street.

  • Report: E-Cig Market to Reach $23B by 2029

    Report: E-Cig Market to Reach $23B by 2029

    The E-cigarette market is projected to grow from its current $18.98 billion to $23.15 billion by 2029, an increase of 3.4%, that according to the “E-Cigarette Market Research Report 2020-2029” that was released today.

    The global e-cigarette market is highly competitive, characterized by the presence of key players such as Altria Group, British American Tobacco (BAT), Imperial Brands, and Japan Tobacco International (JTI). With the declining sale of traditional cigarettes due to increasing health awareness and regulatory pressures, such companies have aggressively entered the e-cigarette market, pushing innovation and technology.

    The global e-cigarette market continues to see user-friendly products introduced that are popular with beginners, as well as open systems including mods that offer greater customization options for experienced vapers. Advancements in battery technology and improvements in e-liquid formulation have likewise helped advance the vaping experience.

    Governments, non-profit organizations, and healthcare providers have for decades been pushing awareness against the health risks of smoking, which is positively impacting the e-cigarette market.