Altria Group revenues net of excise tax jumped 4.7 per cent in the third quarter to USD 5 billion (EUR 4.56 billion) driven by higher pricing and volumes, the company said.
Owner of Philip Morris USA (PM USA), the largest US cigarette maker, Altria reported volume boosts and higher pricing in both the smokeable and smokeless product categories being the driving force behind strong third-quarter results.
PM USA Marlboro volumes slipped by 0.7 per cent to 28.39 billion sticks in the third quarter. Other premium brands were down 4.3 per cent while discount brands rose 10.4 per cent to 3.02 billion sticks. Overall third-quarter smokeable volumes etched up by 0.1 per cent to reach 33.18 billion sticks. Revenue on smokeable products after excise tax was up 4.7 per cent to USD 4.35 billion in the three months ended 30 Sept.
Smokeless volumes were up 0.9 per cent in the third quarter to 204.9 million cans/packs, boosted by a 3.8 per cent hike in Copenhagen chewing tobacco volumes at 120.2 million cans/packs. Revenue on smokeless products after excise tax was up 4.2 per cent at USD 448 million.
The Group reported an increase of 15.5 per cent in operating income in the third quarter at USD 2.3 billion.