Altria’s Secret Weapon: How This Tobacco Giant Keeps Winning Despite Shrinking Cigarette Sales!

Altria Group reported its fourth quarter and full-year 2024 earnings with several noteworthy developments. Financially, the company delivered strong results, primarily supported by its core tobacco operations. Altria grew its adjusted diluted earnings per share (EPS) by 3.4% for the full year, maintaining a trend of returning substantial capital to shareholders through $10.2 billion in dividends and share repurchases. Altria has made progress in its smoke-free product offerings, notably with NJOY and on!, witnessing volume and share growth in their respective categories. These products are part of Altria’s broader strategy in the U.S. nicotine space, where smoke-free alternatives now comprise approximately 45% of the total market, reflecting a 5 percentage point increase from the previous year.