The next question comes from the line of Adam Spielman with Citi. Due to the macro economic factors we described earlier that impacted adult tobacco consumer’s behavior, we saw only minimal volume payback in the second quarter as underlying demand remained consistent across the quarter. Sequential share losses in both branded and deep discount products drove the discount share contraction. I'm just curious how we associate that outlook with your outlook for the consumer. The, 3 Lawsuits That Challenge Local Flavor Bans, Controversy surrounding Juul, which Altria has a stake in, also came under fire this year for. For our environmental efforts, we've been systematically reducing our environmental footprint and we're pleased with the science based target initiatives, recent approval of the carbon reduction goals we set for 2030. Central to Juul's challenges is that the U.S. Food and Drug Administration has banned prefilled e-cigarette pods with any flavors except for tobacco and menthol. Today's call is scheduled to last about one hour including remarks by Altria's management and a question-and-answer session. users are smokers. I'm curious, Billy, as you kind of reflect on this early success, any takeaways if you juxtapose some of those consumer demographics relative to what you saw early days in the snus category or even in the e-cigarette category? We believe legalized cannabis market in the U.S. presents a tremendous growth opportunity. Helix continues to install manufacturing equipment and expects to remove capacity constraints in 2021. For the first half, the segment generated strong adjusted OCI growth of 10.9%. And then just one last one on the IQOS rollout, thank you for the color on the kind of 18 month road map and your thinking there. Altria CFO says Canadian cannabis company Cronos on track with deal that gives it foothold in U.S CBD market. There are 15 older and 2 younger executives at Altria. I want to ask you first of all, as we think about your outlook for the cigarette category, which is obviously showing a marked improvement in relation to previous expectations. So you are lapping that. And so that's why we and JUUL also independent of us, supported the minimum age to purchase at 21 across the U.S. And so that was passed federally at the end of last year and has made steady progress in being passed at the state. William's mailing address filed with the SEC is 6601 WEST BROAD STREET, , RICHMOND, VA, 23230. Look, we're very excited. We also mentioned that we will remove capacity constraints in 2021. Certainly if you consider what's taking place in the external environment remember, JUUL voluntarily started pulling flavors well before the actual FDA panel came in place. Great, thank you very much. This morning Billy Gifford, Altria's CEO and Sal Mancuso our CFO will discuss Altria's second quarter business results. From a standpoint of how we're thinking about balancing, we're going to invest the appropriate dollars behind IQOS. Cronos remains a long term strategic investment. Adult tobacco consumers continue to make fewer trips to the store, but increased their tobacco expenditures by buying more packs and cans per trip. I will now turn it over to Sal to provide more details on our financial performance, our alcohol and cannabis assets, and capital allocation. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. For the first half, reported, domestic cigarette volumes decreased 1.9%. But I will make sure IR follows up with you. Altria Group Inc., the parent company of Philip Morris USA, has a new CEO: William “Billy” Gifford. “Altria revises its 2020 estimated full-year domestic cigarette industry adjusted decline rate to be in a range of 2% to 3.5% from a range of 4% to 6% based on better year-to-date industry performance and expectations for continued category resilience,” the company said. So that's the overall strategy we have in cigarettes. was sold in the top six chains for oral tobacco volumes and in over 40,000 stores, an increase of nearly 43% since the first quarter. So there is a flavor ban that happens in California. Megan Witherspoon. The most active insiders traders include Thomas F Ii Farrell, Carlos Slim Helu és Louis C Camilleri. We have an extremely strong government affairs team that regularly engages on that. There are 15 older and 2 younger executives at Altria. Do not sell my personal infoPrivacy PolicyContact UsRSS, While adult tobacco consumers are making fewer trips to the store, they are, Altria is also working on combustible cigarette alternatives. IQOS comes from Philip Morris International, which sells Altria products in foreign markets and allows Altria to sell its products in the U.S. through a reciprocal agreement. We believe that a sustained focus on the consumer journey from awareness to conversion is the key to achieving our vision. And obviously there's hopefully one time transitory environment with the pandemic. The next question comes from the line of Steve Powers with Deutsche Bank. We're excited about the progress Helix is making in oral nicotine pouches. There are no executives at Altria getting paid more. These factors could be influenced by government decisions or future stimulus and unemployment benefit payments. This is a top priority for Altria and the communities where we live and work. They're doing a very good job of monitoring that and making changes as necessary. Our balance sheet is strong and our core tobacco businesses continue to generate significant cash. We view this as a significant step towards our vision and we're looking forward to communicating with adult smokers the additional benefits of switching to IQOS. Vaping companies must submit applications to the FDA by May 12 in an attempt to get approval to sell prefilled, flavored vaping pods. Remember, when we look at the health of a brand, we really look across four factors; profitability is one, share is one, it's the equity score, the equity strength of the brand, which is both remaining popular and is it remaining relevant, meaning is it keeping pace with the consumer as they evolve.

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