According to a report from Seeking Alpha, the stock of Altria Corporation has recently experienced a decline due to lower-than-expected profits in their most recent earnings report. However, it should be noted that profitability should not be the sole factor for investors to consider, as the company's value lies in its capability for "dividend investing.
According to a Gallup poll conducted from July 3rd to the 27th, only 12% of American adults reported "smoking" in the past week. While this figure represents a slight increase from the 11% reported in 2022, it marks a historic low in smoking trends in the United States over the 80 years.
Altria's revenue reached a record high of $21.9 billion in 2021, but has seen a decline in recent quarters. The future will reveal whether this downturn is a result of the current economic downturn or certain underlying issues.
Altria may ensure its future primarily by dominating the e-cigarette market, much like it has done in the traditional cigarette industry. Despite the best efforts of parents and anti-smoking organizations, e-cigarettes continue to remain popular among young people and the trend is only growing. Currently, the usage rate of e-cigarettes among young people stands at 18%, surpassing the smoking rate of traditional cigarettes at 10%.
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