Altria Q3 revenue slips 0.4% to $6.3 billion as NJOY gains market share

Oct.31.2024
Altria Q3 revenue slips 0.4% to $6.3 billion as NJOY gains market share
Altria’s Q3 2024 report shows net revenue down 0.4% to $6.3 billion. Despite the slight decline, NJOY brand shipments and market share increased, with a growing share in the U.S. nicotine pouch market.

Altria Group, Inc. released its Q3 and nine-month earnings report for 2024 on its official website. The report shows that Q3 net revenue declined by 0.4% to $6.3 billion, while net revenue excluding excise taxes increased by 1.3% to $5.3 billion. 

 

For the first nine months, net revenue dropped by 2.5% to $18 billion, and net revenue excluding excise taxes decreased by 0.9% to $15.3 billion. The revenue decline was primarily attributed to decreased net revenue in the smokeable products segment.

 

Altria Q3 revenue slips 0.4% to $6.3 billion as NJOY gains market share
Translation into English: Altria's Q3 quarter and first nine months performance report screenshot | Image source: Altria official website

 

The report indicates that Q3 NJOY consumables shipments rose by 15.6% year-on-year, reaching 10.4 million units. NJOY device shipments doubled, up 100% to 1.1 million units. NJOY’s retail share of consumable products in the U.S. multi-channel and convenience store segments increased by 2.8% YoY, reaching 6.2%. 

 

For the first nine months, NJOY consumable shipments totaled 33.8 million units, while device shipments reached 3.9 million units. NJOY’s retail share for consumables in the U.S. multi-channel and convenience store segments stood at 5.3%.

 

In Q3, nicotine pouches accounted for 43.9% of the U.S. oral tobacco category, an increase of 11.4% YoY, with on! nicotine pouches holding a 20.3% share within the nicotine pouch segment. 

 

Over the first nine months, the nicotine pouch segment’s share of the U.S. oral tobacco market grew to 41.9%, up 12.4% YoY, while on! held a 19.1% share, marking a 3.8% decrease from the previous year.

 

Altria CEO Billy Gifford commented: "Altria achieved outstanding performance in the third quarter, with resilient Marlboro-driven revenue growth in the combustible products segment, and our MST brand continued to drive profitability in the oral tobacco segment while the on! brand maintained its momentum. We continue to reward shareholders through dividend growth and share repurchases while investing to pursue our vision."

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Malaysia Withdraws Appeal Against Liquid Nicotine Ruling as Vape Regulation Framework Enters New Phase
Malaysia Withdraws Appeal Against Liquid Nicotine Ruling as Vape Regulation Framework Enters New Phase
Malaysia’s government has withdrawn its appeal against a High Court ruling concerning the regulatory status of liquid nicotine used in vape and e-cigarette products, according to reports by New Straits Times, Free Malaysia Today and CodeBlue on August 18, 2026. The Kuala Lumpur High Court ruled on May 15 that the government’s decision to remove liquid nicotine from the scheduled poisons list under the Poisons Act 1952 was irrational and made without proper consultation with the Poisons Board. The withdrawal ends the government’s appeal process, while the future regulatory framework for nicotine vape products remains under discussion.
Aug.21
Yinghe-Controlled Vape Maker SKE Ordered to Post £569,039 Security as It Pursues Crystal Bar Design Infringement Case in UK
Yinghe-Controlled Vape Maker SKE Ordered to Post £569,039 Security as It Pursues Crystal Bar Design Infringement Case in UK
The UK High Court has ordered Chinese vape manufacturer Shenzhen SKE Technology to provide £569,039 ($776,000) in security for costs in its design infringement proceedings against Vapepen London and other defendants over its Crystal Bar vape product. The court did not accept the defendants’ main argument that recovering costs from a China-based company would face significant enforcement obstacles, but found that SKE had not sufficiently disclosed its own financial position. The order is procedural and does not determine the underlying infringement claims.
News
Aug.21
2Firsts Compliance Solutions Hosts PMTA Briefing on FDA Review Signals After JUUL2 Authorization
2Firsts Compliance Solutions Hosts PMTA Briefing on FDA Review Signals After JUUL2 Authorization
Following recent FDA authorizations for JUUL2 and ZYN ULTRA, 2Firsts Compliance Solutions held an online PMTA briefing on Sept. 4 to examine what the decisions may signal about review efficiency, scientific evidence and U.S. market access. Nearly 30 participants from brands, manufacturers, compliance service providers and investment firms joined the discussion.
2Firsts Events
Sep.06
FDA Grants PMTA Authorization to 11 ZYN ULTRA Nicotine Pouches, Bringing Total Authorized Pouches to 43
FDA Grants PMTA Authorization to 11 ZYN ULTRA Nicotine Pouches, Bringing Total Authorized Pouches to 43
The U.S. Food and Drug Administration authorized 11 ZYN ULTRA nicotine pouch products made by Swedish Match USA through the premarket tobacco product application pathway on August 21, 2026. Ten of the authorized products have a labeled nicotine content of 9 mg, while ZYN ULTRA Smooth was authorized at 11 mg. The reviews were conducted through FDA’s nicotine pouch PMTA pilot program. FDA has now authorized 43 nicotine pouch products, including 23 through the pilot.
Aug.24
Product | JTI Launches Ploom AURA Teal Electric Pop in South Korea, Its First Dual-Color Edition
Product | JTI Launches Ploom AURA Teal Electric Pop in South Korea, Its First Dual-Color Edition
JTI Korea launched the Ploom AURA Teal Electric Pop limited edition in South Korea on September 1, 2026, marking the first dual-color design in the Ploom AURA range. The device combines a dark green body with teal accents and is accompanied by matching Front Panel, Back Cover and Pocket Bag accessories. The standalone device is priced at KRW 29,000, with three additional device-and-accessory bundles available. The release continues JTI Korea's use of limited colorways and interchangeable accessories to expand the Ploom AURA portfolio without introducing a new hardware platform.
Sep.03
Virginia Tightens Vape and Tobacco Retail Enforcement, With Fines Up to $15,000 Per Unlisted Product
Virginia Tightens Vape and Tobacco Retail Enforcement, With Fines Up to $15,000 Per Unlisted Product
A new Virginia law that took effect on July 1, 2026, requires retailers to obtain permits to sell liquid nicotine, vape and tobacco products, while directing Virginia ABC to conduct inspections and verify that stores sell only products listed in the state directory.
Jul.20