Altria 1st-quarter profit rises 38 percent on Marlboro market share gains, cost cutting

Summary Box: Altria Group 1Q profit rises

THE RESULTS: First-quarter profit rose 38 percent as Marlboro took an even more commanding share of the market and Copenhagen smokeless tobacco also made gains.

MALRBORO STILL GROWING: Marlboro’s U.S. market share rose to a record 42.7 percent, driven by its menthol and special blend brand extensions. It helped Altria’s cigarette sales excluding excise taxes increase 5.5 percent to $3.4 billion.

SMOKELESS GROWTH: Altria’s smokeless tobacco business, which includes Copenhagen and Skoal, saw sales excluding excise taxes rise 24 percent to $355 million.