Ochia Q3 and first 9 months performance: Net revenue decreased by 0.4% year-on-year to $6.3 billion, NJOY market share growth

Ochia Q3 and first 9 months performance: Net revenue decreased by 0.4% year-on-year to $6.3 billion, NJOY market share growth

According to the Q3 2024 performance report of Altria, net revenue decreased by 0.4% to $6.3 billion. Despite a slight decrease in net revenue, NJOY brand's shipments and market share increased, and the market share of nicotine bags in the United States also increased.

On October 31st, Altria Group, Inc. released its performance report for the third quarter and first nine months of 2024 on its official website. The report shows that net income decreased by 0.4% to $6.3 billion in Q3, while net income after consumption tax increased by 1.3% to $5.3 billion; Net income decreased by 2.5% to $18 billion in the first nine months, and net income after consumption tax decreased by 0.9% to $15.3 billion. The main reason for the decline in income is the decrease in net income of the smoking products department.

Screenshot of Altria Q3 and First Nine Months Performance Report | Source: Altria Official Website

The report shows that the shipment volume of NJOY consumables in Q3 increased by 15.6% year-on-year, reaching 10.4 million units. The shipment volume of NJOY equipment reported increased by 100% year-on-year, reaching 1.1 million units. NJOY's retail share of consumable products in multi-channel and convenience store channels in the United States increased by 2.8% year-on-year, reaching 6.2%; In the first 9 months, NJOY consumables reported a shipment volume of 33.8 million units. The shipment volume reported by NJOY equipment is 3.9 million units. NJOY's consumable product retail share in multi-channel and convenience store channels in the United States is 5.3%.

In Q3, the proportion of nicotine bags in the US oral tobacco category reached 43.9%, an increase of 11.4% over the same period. On! Nicotine bags accounted for 20.3% of the nicotine bag tobacco category; In the first nine months, the share of nicotine bagged tobacco in the US oral tobacco category increased to 41.9%, an increase of 12.4% from the previous year. On! Nicotine bags accounted for 19.1% of the nicotine bagged tobacco category, a decrease of 3.8% from the previous year.

Altria CEO Billy Gifford said,

Altria achieved outstanding performance in the third quarter, with the combustible tobacco products division achieving steady revenue growth driven by Marlboro's resilience. In the oral tobacco products division, our MST brand continued to drive profitability, while the on! Brand maintained momentum in the market. We also continued to return to shareholders through growing dividends and stock buybacks, while investing to pursue our vision