MO · Earnings call · 2026Q3T · Full report

Cigarette Shipment and Share Trends

ALTRIA GROUP, INC. · 2026-10-29 · Importance null · Surprise 32

Domestic cigarette volumes declined 2.9% in the third quarter and 2.8% for the first nine months; after adjustment for trade inventory movements, management estimated declines of 4%, slightly below the industry's estimated 5% decline. Marlboro's share of the premium segment reached 60%, up 0.3 point year over year, while its overall retail share was unchanged sequentially and down 1 point year over year as consumers shifted toward discount products. The discount segment gained 2 share points to 34.1% of the category, and Basic's retail share increased 1.8 points year over year. PM USA's total retail share increased 0.3 point year over year, reflecting the company's portfolio approach across price points.

Key facts

• Reported domestic cigarette volumes declined 2.9% in Q3 2026 and 2.8% for the first 9 months.
• Adjusted for trade inventory movements, Altria estimated domestic cigarette volumes declined 4% in Q3 2026 and 4% for the first 9 months, slightly below an estimated 5% industry decline.
• Marlboro's overall retail share was unchanged sequentially and down 1 share point year over year.