Altria reports a whopping 10.8% cigarette volume decline in US in 2Q18

[Bill Godshall]

Altria reports 10.8% cigarette volume decline in 2Q18, and a 7.6% decline in first half of 2018; reports 2.4% smokeless tobacco volume decline in 2Q18 and a 1.3% decline in first half of 2018; reports 16% e-vapor volume increase in 2Q18 (but doesn't provide data)
Press Release

Looks like lots of Marlboro smokers have recently switched to juul and/or other vapor products.

 

[stols001]

Well, I'm glad to hear switching is being done.

Anna

 

[ENAUD]

Altria reports 10.8% cigarette volume decline in 2Q18, and a 7.6% decline in first half of 2018; reports 2.4% smokeless tobacco volume decline in 2Q18 and a 1.3% decline in first half of 2018; reports 16% e-vapor volume increase in 2Q18 (but doesn't provide data)
Press Release

Looks like lots of Marlboro smokers have recently switched to JUUL and/or other vapor products.

I'm curious what that translates to in dollars lost?

 

[zoiDman]

I'm curious what that translates to in dollars lost?

As Carl Sagan would say... "Billions and Billions."

LOL

Altria 2017 Annual Report

 

[JimBob Smith]

It's crazy to me how they post such a massive decline in volume yet still pay 1.3 billion dollars in dividends to their shareholders. They make so much money selling cigarettes!

 

[Bill Godshall]

BAT/Reynolds reports 3.1% cigarette volume decline in 1H18 (including a 5.1% volume decline in US); 850% volume increase in THP (Glo), 16.5% volume increase in vapor, 2.0% volume increase in oral smokeless tobacco (note this data assumed BAT had owned Reynolds in 1H17).
British American Tobacco - Half-year Report to 30 June 2018
http://www.bat.com/group/sites/uk__...ve/DOB2ZP4L/$FILE/medMDB32FKZ.pdf?openelement

Looks like the largest decline in US cigarette consumption might occur in 2018. The largest previous decline occurred in 2009, after US Congress increased the federal cigarette tax to $1.01/pack.

 

[choochoogranny]

Perhaps a good reason why California increased their excise tax on cigarettes by $2.00 per pack recently. Was $.87, now $2.87 plus add sales tax. If people are buying less packs, they get less Master Settlement money as well. Got to make up that revenue somewhere and it's going to be on the shoulders of those left smoking.