Despite revenue decrease in Q1, Altria believes business is on track for the year

Altria saw $5.9bn in revenue in Q1 2022 – a decrease from both Q4 2021 ($6.25bn) and by 2.4% compared to Q1 2021.

Altria attributed the drop in revenue to the sale of the group’s wine business last October. The firm’s tobacco business however, the US manufacturer said, achieved a good performance despite the unfavourable geopolitical and economic conditions caused by the war in Ukraine and the Covid-19 pandemic, which caused higher gas prices and inflation.