NJOY
Oral tobacco products
Revenues from oral tobacco products grew over 5% to $722 million in Q3, driven by higher pricing and shipment volume. OCI increased 2%. Domestic shipment volume grew 1.2% in the quarter. Retail share for oral tobacco products stood at 37.6%, as declines in share for moist smokeless tobacco (MST) products were partly offset by share growth in oral nicotine pouches.
Oral nicotine pouches now account for 43.9% of the oral tobacco category in the US, reflecting a growth of 11.4 share points YoY. Total US oral tobacco category share for on! nicotine pouches grew to 8.9%. In Q3, shipment volume for on! nicotine pouches grew 46% YoY.
Smokeable products
Altria continues to see challenges in its smokeable products segment as cigarette volumes continue to decline. Inflationary pressures are impacting smokers’ discretionary income which are weighing on volumes.
In Q3, revenues in smokeable products fell slightly to $5.54 billion, due to lower shipment volume, partly offset by higher pricing. OCI increased 7.1%, driven mainly by higher pricing. Domestic cigarette shipment volume fell 8.6% in the quarter, mainly due to the industry’s decline rate and retail share losses.
Marlboro displayed resilience as its share of the premium segment rose 0.3 share points YoY to 59.3% in the quarter. The brand’s retail share of the total cigarette category fell 0.6 share points to 41.7% YoY in Q3.