Altria Group

Altria makes cigarettes and oral tobacco for adult consumers in the U.S. Its products offer nicotine in smokeable and smoke-free forms. Marlboro cigarettes and Copenhagen smokeless tobacco are widely used by adult tobacco users.

Products and Services

• Smokeable products (88% of revenue): Marlboro, Parliament, and other brands for adult smokers.
• Oral Tobacco (12% of revenue): Copenhagen, Skoal, and on! pouches for smoke-free nicotine use.
• Cigars: Black & Mild machine-made cigars for adult tobacco users.
• E-vapor Products: NJOY e-cigarettes, though facing regulatory and market challenges.
• Equity Investments: Stakes in Anheuser-Busch InBev (beer) and Cronos Group (cannabinoids).

Growth and Expansion

• Acquired NJOY (e-vapor) in 2023 to enter the e-cigarette market.
• Launched on! PLUS oral nicotine pouches in 2026, expanding smoke-free offerings.
• Formed Horizon joint venture with Japan Tobacco in 2022 for heated tobacco products.
• Invested in Anheuser-Busch InBev and Cronos Group for diversification.
• Rolled out cost-saving "Optimize & Accelerate" program, targeting $600 million in savings by 2029.

What Makes Altria Stand Out

Altria holds a leading share in U.S. premium cigarette and smokeless tobacco markets. The company adapts to changing consumer preferences by expanding smoke-free and reduced-risk products.

Five Things You Need to Know

• Net revenues were $23.28 billion in 2025, down 3.1% from 2024.
• Operating income was $9.90 billion in 2025, down 11.9% year-over-year.
• Net earnings fell 38.3% to $6.95 billion in 2025.
• Adjusted net earnings rose 2.4% to $9.15 billion in 2025.

Bottom Line

Altria has shifted from traditional cigarettes to include smoke-free and nicotine pouch products. The company continues to adapt through cost controls, new product launches, and strategic investments.