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This chart shows Altria’s Revenue by Segment from 2016 onwards, split across Oral Tobacco Products, Smokeable Products, Wine and All Others
Altria generates revenue from the following segments
|Segment||Revenue in Q1 2020||Revenue in Q4 2020||Revenue in Q1 2021||Revenue share in Q1 2021|
|Oral tobacco products||$0.601||$0.632||$0.626||10.4%|
(All figures in billions, except percentages)
Altria’s total revenue during Q1 2021 stood at $6.036 billion. This was a decline of 5.1% from $6.359 billion generated during the previous year of the same quarter and a 4.3% decrease from $6.304 billion during the subsequent quarter.
The revenue from Altria is further bifurcated according to the following segment:
Oral Tabacco products:
Altria rebranded its smokeless products segment to oral tobacco products in the first quarter of 2020. The Oral tobacco products include MST and snus products manufactured and sold by USSTC as well as oral nicotine pouches manufactured and sold by Helix.
Altria’s Oral tobacco products generated $0.626 billion in Q1 2021, which had increased by 4.2% from $0.601 billion in Q1 2020, due to higher pricing, partially offset by higher promotional investments in ‘on!’. There was a 0.9 percent decline from $0.632 billion in Q4 2020. This segment accounted for 10.4% of Altria’s total revenue.
Altria’s Smokeable Tobacco products consist of combustible cigarettes manufactured and sold by PM USA, including the super-premium cigarettes which were previously manufactured and sold by Nat Sherman. It also includes machine-made large cigars and pipe tobacco manufactured and sold by Middleton
Smokeable products generate the majority of the revenue for Altria. In Q1 2021, this segment accounted for 87% of the total revenue, generating $5.25 billion. This was a 6.4% decrease from $5.606 generated a year ago in Q1 2020. The year-on-year decrease was a result of lower shipment volume and higher promotional investments, partially offset by higher pricing. The revenue also declined from the previous quarter where it was $5.567 billion.
The Wine business operated by Ste. Michelle Wine Estates Ltd involves direct customer sales and on-premise wine sales in restaurants, bars, hospitality venues, and cruise lines.
Altria’s Wine segment generated a revenue of $0.14 billion during Q1 2021, contributing 2.5% to the total revenue. There was a growth of 2.7% compared to $0.146 billion in Q1 2020, resulting from higher pricing. However, it experienced a fall of 16.7% from $0.18 billion in Q4 2020.
COVID-19 had a substantial impact on Ste. Michelle’s on-premise and direct-to-consumer sales in 2020. Ste. Michelle continues to analyze the effects of COVID-19 pandemic-related risks on its operations.
Due to the continued reduction of PMCC’s lease portfolio and the relative financial contribution of Altria’s innovative tobacco products businesses to Altria’s consolidated results, the financial services and innovative tobacco products businesses have been grouped under the All other category.
All other segment of Altria reported growth of 66.7% from $0.006 billion in Q1 2020 to $0.01 billion in Q1 2021. In Q4 2020, all other segment witnessed losses due to reductions in the estimated residual value of certain assets at PMCC. This segment only contributed 0.2% to the total revenue in Q1 2021.
Altria Group, Inc. (formerly Philip Morris Companies, Inc.) is an American firm that is one of the world’s leading tobacco-related product makers and marketers. It is headquartered in Henrico County, Virginia, just outside of Richmond, and operates globally.
Philip Morris USA, John Middleton, Helix Innovations, U.S. Smokeless Tobacco Company, Ste. Michelle Wine Estates, and Philip Morris Capital Corporation are all part of Altria’s enterprises. Altria also owns significant minority investments in Belgian brewer Anheuser-Busch InBev, Canadian cannabis firm Cronos Group, and e-cigarette maker JUUL Labs. Imperial Brands, Reynolds American, Vector Group LTD, JTI (Japan Tobacco International), Swisher. Godfrey Phillips and Scandinavian Tobacco Group are Altria’s top competitors.
Altria completed the acquisition of UST Inc. in 2009. On December 8, 2018, they also announced their plan to purchase a 45 percent share in Cronos Group for $1.8 billion. They finalized the acquisition of a 35% share in JUUL Labs on December 20, 2018. Marlboro, Copenhagen, Skoal, and Black & Mild are among Altria’s tobacco brands. Ste. Michelle Wine Estates, one of the country’s major wine producers, is also owned by Altria. Philip Morris International, Imperial Brands, Reynolds American, Vector Group LTD, JTI (Japan Tobacco International), Swisher. Godfrey Phillips and Scandinavian Tobacco Group are Altria’s top competitors.
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