Will Strong Pricing Power Offset Altria's Volume Declines in 2025?

Key Takeaways Altria Group, Inc.'s (MO) focus on pricing strength remains central to its strategy for managing persistent cigarette volume declines. In the second quarter of 2025, domestic cigarette shipment volumes in the smokeable products segment fell 10.2% year over year. Yet, adjusted operating companies' income for the segment rose 4.2%, with margins expanding to 64.5%, supported by a solid 10% increase in net price realization during the period. The company's ability to use pricing gains to counter d ...