Altria earnings fall short amid lower cigarette sales and competition for nicotine products
Altria's shares dropped after the tobacco giant reported flat earnings, primarily due to decreasing cigarette sales and intense competition in the market for newer nicotine products, such as flavored pouches. The company's fourth-quarter revenue declined by 2% to $5.8 billion, missing Wall Street expectations for adjusted net income per share. Altria is striving to diversify into next-generation products, but faces strong competition, particularly from Philip Morris International's Zyn nicotine pouches.
https://www.oskaloosa.com/news/national_news/altria-earnings-fall-short-amid-lower-cigarette-sales-and-competition-for-nicotine-products/article_ebec992f-85fa-535b-92fa-6aee27b8071d.html