Altria Group, Inc. provided insights on the U.S. nicotine space, noting a significant growth in adult consumers in e-vapor and oral tobacco categories, reaching nearly 30 million users. The company estimated an industry volume increase of 2% over the past five years, with smoke-free alternatives accounting for over 50% of the total nicotine space, driven by illicit flavored disposable e-vapor products. Illicit products represented approximately 70% of the e-vapor category in 2025.
In 2025, the company saw increased engagement and action from federal agencies and government officials, including legislation requiring the FDA to allocate $200 million to enforcement activities. The growth in disposable vapers slowed in 2025, rising by only 10% compared to over 40% in 2024. Additionally, the FDA’s Pollak program to streamline PMTA reviews for certain oral nicotine pouches could improve regulatory speed and clarity.
Helix, a subsidiary of Altria, experienced growth in the oral tobacco category, with ON reported shipment volume increasing by approximately 11% in 2025. The company introduced ON PLUS products in different flavors and nicotine strengths, receiving FDA authorization for some variants and planning a national launch. The innovative ON PLUS Mint pouch received positive consumer feedback, positioning it competitively in the nicotine pouch category.
Altria’s international smoke-free efforts focused on the nicotine pouch category, with the introduction of the Fumi brand in select markets. The company added new line extensions and expanded the brand to 40,000 retail locations in seven markets. The broadened nicotine pouch portfolio accelerated international expansion and provided valuable consumer insights for future product development.
The company provided a financial outlook for 2026, expecting adjusted diluted EPS in the range of $5.56 to $5.72, representing a growth rate of 2.5% to 5.5% from 2025. Altria emphasized its commitment to building a portfolio of FDA-authorized smoke-free products and ongoing investments in marketplace activities, product support, research, development, and regulatory preparations to drive long-term growth and value for shareholders.
The call concluded with a reminder to review the earnings release and non-GAAP reconciliations on the company’s website. Investors were encouraged to reach out to Investor Relations for further information or questions.
Read more at Yahoo Finance: Altria (MO) Q4 2025 Earnings Call Transcript