By Katherine Hamilton
Altria posted higher sales in the first quarter as higher pricing offset lower volumes.
The cigarette maker on Thursday posted a profit of $2.18 billion, or $1.30 a share, in the quarter ended March 31, compared with $1.08 billion, or 63 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $1.32, ahead of the $1.25 anticipated by analysts, according to FactSet.
Revenue rose 3.2% to $5.43 billion. Analysts surveyed by FactSet forecast revenue of $4.58 billion.
Sales were driven by growth in the smokeable products segment, where higher pricing offset lower shipment volume and more promotions. Oral tobacco products also had an increase in revenue driven by higher pricing, while shipments declined.
Altria's Marlboro cigarettes lost 1.4 percentage points of its market share in the cigarette industry, though Altria said the brand gained share in the premium category. Its on! nicotine pouches lost less than 1 point of market share.
Altria reaffirmed its full-year outlook. The reaffirmed guidance range now includes the impact of moderated e-vapor industry growth, as well as increased macroeconomic uncertainty facing adult consumers, Altria said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
04-30-26 0733ET
