Altria earnings fall short amid lower cigarette sales and competition for nicotine products
Altria reported flat earnings and lower-than-expected adjusted net income for the fourth quarter, primarily due to declining cigarette sales and intense competition in the nicotine pouch market. The company is facing challenges from unauthorized disposable e-cigarettes and market dominance by Philip Morris International's Zyn pouches, despite Altria's efforts to diversify with its FDA-authorized on! Plus pouches. Altria also took a significant charge on its vaping business, NJOY, after an import ban due to patent infringement.
https://finance.yahoo.com/news/altria-earnings-fall-short-amid-160403158.html