MO · 10-Q · 2026Q2 · Full report

Pricing and Promotions

ALTRIA GROUP, INC. · 2026-07-30 · Importance 49 · Surprise 32

Smokeable Products net revenues increased 1.7% in the first six months of 2026 and 0.7% in the second quarter, primarily due to higher pricing of $639 million and $309 million, respectively. Pricing benefits included higher promotional investments, which partially offset volume and cigarette-mix pressure of $475 million for the six-month period and $279 million for the quarter. PM USA increased Marlboro and L&M list prices by $0.20 per pack effective April 12, 2026, and increased other premium cigarette brands by $0.25 per pack. Middleton increased prices across substantially all cigar brands by a weighted average of approximately $0.12 per five-pack effective February 8, 2026.

Key facts

• Effective April 12, 2026, PM USA increased the list price of Marlboro (excluding Mainline Menthol and 72s Menthol) and L&M by $0.20 per pack and increased the list price of all its other premium cigarette brands by $0.25 per pack. source
• Effective February 8, 2026, Middleton increased various list prices across substantially all of its cigar brands resulting in a weighted-average increase of approximately $0.12 per five-pack. source
• Effective January 18, 2026, PM USA increased the list price of Marlboro (excluding Mainline Menthol and 72s Menthol) and L&M. source
• Effective July 19, 2026, PM USA increased the list price of Marlboro (excluding Mainline Menthol and 72s Menthol) and L&M by $0.17 per pack and increased the list price of all its other premium cigarette brands by $0.22 per pack. source
• Effective May 12, 2026, USSTC increased the list price on its Copenhagen, Skoal and Red Seal brands by $0.10 per can. source
• Effective March 29, 2026, Helix increased the list price on its on! brand by $0.20 per can. source
• Effective February 17, 2026, USSTC increased the list price on its Copenhagen, Skoal and Red Seal brands by $0.12 per can. source
• Net revenues increased $171 million (1.7%) for the six months ended June 30, 2026 compared with the prior year, due primarily to higher pricing of $639 million and partially offset by lower shipment volume and a higher percentage of discount shipment volume relative to premium (volume/cigarette mix) of $475 million. source