Altria reported strong performance in its smokeable products segment, driving earnings growth and higher revenue in first-quarter 2026, the tobacco company said on Thursday.
Net revenues increased 3.2% to $5.4 billion, primarily due to gains in combustibles, the company said.
“In the first quarter, Marlboro expanded its share of the premium segment to 59.5%, up 0.1 share point versus the prior year and 0.2 share points sequentially, expanding its long-standing leadership position,” CFO Salvatore “Sal” Mancuso said, according to a transcript from financial services site AlphaSense.
Altria and its subsidiary Philip Morris USA raised cigarette prices in mid-April across their portfolio, including increases of about 20 to 25 cents per pack on Marlboro and 20 cents per pack increase on L&M cigarettes, according to a notice from New York-based Goldman Sachs.
Nicotine pouches
The Richmond, Virginia-based company said nicotine pouch volumes grew during the quarter.
“Over the past six months, oral nicotine pouches drove the estimated 9.5% increase in total oral tobacco industry volume,” CEO Billy Gifford said, according to a transcript from AlphaSense.
Gifford said the nicotine pouch category grew 9.1 share points in the first quarter and now accounts for more than 58% of total oral tobacco volume. Shipment volume for Altria’s On Plus nicotine pouch portfolio grew nearly 18% to more than 46 million cans in the first quarter.
On Plus is manufactured by Helix Innovations LLC, a subsidiary of Altria. The Food and Drug Administration in December issued marketing granted orders to six On Plus nicotine pouch products.
E-vapor
In the e-vapor category, Gifford said that “while illicit flavored disposable products remain prevalent, after several years of rapid growth, we began to see signs of moderation in the back half of 2025.”
He said increased enforcement activity and supply disruptions have slowed demand, while progress in the category remains limited by the small number of FDA-authorized products.
“We see a clear pathway to restoring order and advancing harm reduction, anchored in a more efficient and predictable authorization process that supports reasonable, responsible innovation and establishes a compliant legal marketplace of e-vapor products,” he said.
To date, the FDA said there are 41 e-cigarettes authorized by the agency. These are the only e-cigarettes that may be lawfully sold in the United States.
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