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  • Court Certifies Juul Direct Purchaser Class in Altria Antitrust Case

    Court Certifies Juul Direct Purchaser Class in Altria Antitrust Case

    A U.S. federal court certified a class of direct purchasers of Juul Labs, Inc. products in California, allowing claims against Altria Group, Inc. over its 2018 $12.8 billion investment for a 35% stake in Juul, according to Law 360. Judge William H. Orrick cited “common, predominant questions” and a strong inference of class-wide impact, finding class resolution preferable to individual suits, while purchasers may opt out. Plaintiffs allege the investment led Altria to exit the e-cigarette market, reduce product variety, and raise prices.

    Law 360 said the direct purchaser class covers those buying Juul products from October 5, 2018, to the present. Judge Orrick rejected arguments that separate contracts and pricing arrangements make named purchasers atypical, noting claims are typical across the class and representatives are adequately motivated. An imperfect understanding of class membership does not undermine adequacy so long as representatives understand the claims and responsibilities.

    Indirect purchaser and reseller classes were also certified, though plaintiffs from Arkansas, South Carolina, Tennessee, and Virginia were excluded due to state law restrictions. The indirect purchaser class covers Juul pod purchases for personal use from October 25, 2018, to March 29, 2024, and the indirect reseller class covers purchases for resale from December 1, 2018, to March 31, 2025. The FTC had previously challenged Altria’s Juul stake but dropped its case in 2023 after the company fully unwound its investment.

  • Altria Declares $1.06 Quarterly Dividend

    Altria Declares $1.06 Quarterly Dividend

    Altria Group, Inc. today (Feb. 26) announced that its Board of Directors declared a regular quarterly dividend of $1.06 per share, payable on April 30, to shareholders of record as of March 25. The ex-dividend date is March 25.

  • Altria Moving Forward with Smoke-Free Products

    Altria Moving Forward with Smoke-Free Products

    Altria Group, Inc. reaffirmed its 2026 full-year guidance at the Consumer Analyst Group of New York Conference on February 18, projecting adjusted diluted EPS of $5.56 to $5.72, representing growth of 2.5% to 5.5% from a 2025 base of $5.42. CEO Billy Gifford and CFO Sal Mancuso told investors earnings growth is expected to be weighted toward the second half of the year, driven by a progressive increase in cigarette import and export activity, continued pricing power in the combustibles segment, and capital allocation including share repurchases. The company also emphasized its strategic pivot toward smoke-free products, including its on! nicotine pouch portfolio, positioning reduced-risk categories as a key long-term growth driver as cigarette volumes continue to decline.

    “Long term, it’s important to compete in e-vapor with flavored products that meet evolving consumer preferences,” Gifford said. “We are working on a pipeline of products to drive to that future. The proliferation of illicit disposable products, slow pace of FDA authorizations, and the intellectual property landscape remain significant headwinds. We intend to maintain a measured approach to our investments in e-vapor, until the regulatory framework is functioning as intended and enforcement actions meaningfully address the illicit market.”

  • Altria to Present at Consumer Analyst Group of NY Conference

    Altria to Present at Consumer Analyst Group of NY Conference

    Altria Group announced it will webcast a business presentation at the annual Consumer Analyst Group of New York conference in Orlando on February 18 at 1 p.m. ET. The presentation will feature CEO Billy Gifford and CFO Sal Mancuso and will be listen-only, with pre-event registration required. An archived version will be available on Altria’s website.

  • Altria Seeks Boost from Double Duty Drawback

    Altria Seeks Boost from Double Duty Drawback

    Altria Group said it expects profits to get a lift in the second half of the year by taking advantage of a U.S. tax rebate tied to higher cigarette imports and exports, even after narrowly missing fourth-quarter 2025 profit estimates. Despite forecasting full-year 2026 earnings above analysts’ expectations, Altria’s shares fell about 2.8% following the update.

    The boost is expected to come from the so-called “double duty drawback,” a provision that allows tobacco companies to reclaim federal excise taxes paid on domestically sold cigarettes when they export similar products. According to Reuters, while rivals such as British American Tobacco have long benefited from this mechanism, Altria historically could not because it sells cigarettes only in the U.S. The company is now expanding exports through partnerships and contract manufacturing deals with foreign firms, including South Korea’s KT&G.

    Altria executives said using the rebate is necessary to remain competitive as cigarette sales continue to decline. The company has been investing in alternative products, such as its On! nicotine pouches, though competition has intensified.

  • Altria Revenue Down 3.1%, Forecasts Growth Amid Smoke-Free Push

    Altria Revenue Down 3.1%, Forecasts Growth Amid Smoke-Free Push

    Altria Group reported 2025 adjusted diluted EPS of $5.42, up 4.4% year over year, as the company highlighted momentum in its smoke-free portfolio and $8 billion in total shareholder returns through dividends and share repurchases. Full-year net revenues declined 3.1% to $23.3 billion, while revenues net of excise taxes fell 1.5% to $20.1 billion. In the fourth quarter, Altria repurchased $288 million in stock and paid $1.8 billion in dividends. The company also noted recent FDA marketing authorizations for additional on! PLUS nicotine pouch variants and continued progress under its multi-year Optimize & Accelerate cost-savings initiative.

    Altria expects 2026 adjusted diluted EPS in a range of $5.56 to $5.72, representing projected growth of 2.5% to 5.5%. Guidance assumes continued investment in smoke-free products, limited enforcement impact from illicit e-vapor products, and that NJOY ACE will not return to the market in 2026. The company reaffirmed its long-term strategy of building an FDA-authorized smoke-free portfolio while maintaining leadership in traditional tobacco, targeting mid-single-digit earnings and dividend growth through 2028.

  • Altria to Host Q4, FY25 Webcast January 29

    Altria to Host Q4, FY25 Webcast January 29

    Altria Group, Inc. will host a live audio webcast on January 29 at 9 a.m. EST to discuss its 2025 fourth-quarter and full-year business results. Altria will issue a press release containing its business results approximately two hours prior. The webcast can be accessed at altria.com.

    During the webcast, CEO Billy Gifford and CFO Sal Mancuso will discuss the company’s 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.

  • Altria Pushes to End Juul’s ITC Patent Investigation

    Altria Pushes to End Juul’s ITC Patent Investigation

    NJOY and Altria Group are asking a federal judge in Virginia to immediately halt a U.S. International Trade Commission investigation triggered by Juul Labs’ nicotine-salt patent claims, arguing the ITC lacks constitutional authority to hear the case. In a reply filed Tuesday (January 6) in the U.S. District Court for the Eastern District of Virginia, the companies urged the court to grant summary judgment and permanently enjoin the ITC proceeding rather than allow it to continue while constitutional challenges are litigated.

    The filing argues the investigation violates the Appointments Clause, improperly insulates ITC administrative law judges through double for-cause removal protections, and infringes Article III limits, citing the Supreme Court’s decision in SEC v. Jarkesy. Altria and NJOY contend they are suffering irreparable harm by being subjected to an allegedly unconstitutional process, noting the ITC has scheduled an evidentiary hearing for April 22, 2026.

  • Juul, NJOY, and Altria Battle Over Public Document Case

    Juul, NJOY, and Altria Battle Over Public Document Case

    Juul Labs asked a federal court in Arizona to block rivals NJOY and Altria from using documents hosted in a public University of California, San Francisco (UCSF) database, according to a joint court filing dated December 24. The dispute arises in an ongoing patent lawsuit, with Juul arguing that some documents were inadvertently disclosed during a large-scale production tied to state settlement agreements and remain protected by attorney–client privilege.

    NJOY and Altria oppose the request, saying the documents have been publicly accessible online for months or years and are therefore no longer privileged. They argue the materials may contain evidence relevant to alleged misconduct in Juul’s patent filings. After failed negotiations, the issue has been submitted to U.S. District Judge John J. Tuchi, who will decide whether the publicly available documents can be excluded from use in the litigation.

  • Altria CEO Gifford to Retire in 2026; Mancuso Named Successor

    Altria CEO Gifford to Retire in 2026; Mancuso Named Successor

    Altria Group announced that CEO Billy Gifford will retire following the company’s 2026 Annual Meeting of Shareholders on May 14, ending a more than 30-year career with the company. Gifford, who has led the company since 2020, plans to remain as a consultant through at least the end of 2026 to support a smooth leadership transition. Company leaders praised Gifford for steering Altria through a turbulent period and emphasized continuity in advancing the company’s “Moving Beyond Smoking” strategy under the incoming leadership team.

    The board has elected Salvatore “Sal” Mancuso, currently Altria’s executive vice president and chief financial officer, to succeed Gifford as CEO. Mancuso joined Philip Morris USA in 1990 and has held senior roles across strategy, finance, and compliance. Board Chair Kathryn McQuade said his selection followed a long-term succession process evaluating both internal and external candidates.

    Heather Newman, Altria’s chief strategy and growth officer, has been named the company’s next CFO, also effective at the 2026 Annual Meeting. Newman, who joined Altria in 1999, previously served as president and CEO of Philip Morris USA.