Altria's Smokeable Segment Shrinks: Is it Time to Pivot Faster?

Key Takeaways MO's cigarette volumes dropped 13.7% in Q1 2025, with smokeable revenues down 5.8% to $4.62 billion. Economic strain and illicit e-vapor use hurt Marlboro's share and boosted discount brand gains. MO's smokeable struggles highlight the urgency to accelerate its shift toward smoke-free alternatives.Altria Group, Inc. (MO) is facing growing pressure in its core smokeable products segment, with recent data highlighting a sharp decline in cigarette volumes. In first-quarter 2025, domestic cigare ...