Juul Is Divested - Altria Now Focuses On Development Efforts For Smoke-Free Products, Updates 2028 Goals - Altria Group (NYSE:MO)

Altria Group Inc MO unveils a lineup of e-cigarettes, oral nicotine pouches, and other smoke-free products in a new plan to shift its business toward less-harmful products after several failures.
Altria divested e-cigarette maker Juul Labs Inc, recording a loss of at least $12.5 billion.
Altria now has a new lineup of e-cigarettes, heated-tobacco devices, and oral nicotine pouches in the works.
Altria, in a Wall Street Journal report, said it seeks to take reduced-risk products overseas and is considering expanding into non-nicotine offerings such as cannabis products or caffeine pouches.
Earlier this month, Altria agreed to acquire NJOY Holdings Inc for $2.75 billion in a plan to gain ownership of the e-vapor product portfolio.
“Previously, we were chasing the market,” Chief Executive Billy Gifford said in an interview, referring to Altria’s past attempts to develop or acquire vaping products.
“You’re constantly watching what the consumer is telling you in the marketplace, but none of them were satisfying the consumer enough to ultimately meet all of their needs and desires.”
Altria established two new goals for its U.S. smoke-free portfolio, including smoke-free volume and smoke-free revenue.
For U.S. smoke-free volume, the goal is to grow volumes by at least 35% from its 2022 base of 800 million units.
For U.S. smoke-free revenue, the goal is to approximately double its smoke-free net revenues to $5 billion from its 2022 base of $2.6 billion, with $2 billion coming from smoke-free products.
Price Action: MO shares are up 0.01% at $43.47 on the last check Friday.

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