Altria's Smoke and Mirrors: Growth That Masks a Larger Decline Altria has been touting its strongest growth in years, but beneath the surface lies a company still reeling from the decline of its core business.
Sales have increased 5% year over year, but revenue has decreased by 16% over the past five years. The reason for Altria's modest success lies in its pivot to oral tobacco products.
These sales have risen from $626 million in the first quarter of 2021 to $669 million this past quarter – a paltry 7% increase that barely keeps pace with inflation.