Altria’s Q1 sales rose 5% year-over-year to $4.1 billion, marking its strongest growth in years but still below 2019 levels.
Altria posted a 5% year-over-year increase in net revenue to $4.1 billion for the first quarter, its strongest growth in multiple years. The gain follows a period of stagnation as the company shifts toward less harmful products amid declining smoking rates.
The growth, however, comes against weaker comparables from a year ago. Five years earlier, Altria’s quarterly revenue stood at nearly $4.9 billion, reflecting a 16% decline over that period. While oral tobacco products have seen some growth, smokeable tobacco remains the core business.
The results highlight the challenges of sustaining growth in a declining industry, despite recent improvements.