US-based tobacco giant Altria’s net revenues in the oral tobacco segment fell slightly in 2022 despite its nicotine pouch brand On! reporting a positive performance
Fewer people smoking has led to US cigarette maker Altria continuing to see a decrease in revenue over the third quarter of 2022, partially offset by higher net revenues in the oral tobacco products segment
Altria saw $12.43bn in revenue in the first half of 2022 – a decrease of 4.1% from the same period a year ago – but was encouraged by the positive momentum of its nicotine pouch brand On!
Altria posted a 4.7% revenue decline in the third quarter of the year, mainly driven by the continuing poor performance of its smokable segment but neutralised by the growth of its oral products in the US
The investment value of Altria in e-cig company Juul fell by 65% in almost a year due to the recent developments in the US affecting the brand