William F. Gifford, Jr.
Thanks, Howard, and morning, good everyone.
OCI Let's large quarter, promotional were pricing the increased volumes driven by adjusted XX.X%. begin with In points OCI Reported cigarette by X.X% domestic driven Results percentage the X.X in inventories. our reduction adjusted margins offset and investments. lower decreased lower permanently by partially a quarter, smokeable and in volume, second higher products trade declined segment. to cigarette XX.X%
second it housekeeping As you quarter in our inventories did items, year. can than significantly trade with cigarette the entered the higher see last
units PM units, by X.X the estimated in quarter, year USA depleted wholesalers an course a quarter. billion to Over the the compared XXX build inventories of ago million of
to time. out quarter can inventory be smooth quarter, there volatility movements over While typically
X% share, are roughly effects category states and we into two the excise Oklahoma, on cigarette On of Looking these cigarette volume, the both Marlboro increases ahead, which with exceeding basis, tax went monitoring retail for account July in industry states. the X. and in combined on from over-indexes each Kentucky effect XX% a U.S.
As retail helped in believe point first PM share quarter USA's investments Marlboro. from a the stabilize half was Howard XXXX. fourth And of share mentioned, up tenth have a Marlboro's of we the
segment. by example, expanded For resale the quarter, offerings adopt the pursuing portfolio. PM in nationally. on in to innovative encouraged options We're first Marlboro PM USA its Ice's Ice is in pack other performance Marlboro menthol USA
Additionally, digital adult early success Marlboro's continued engagement increasing in Texas by its rewards Marlboro's Points with West smokers. program
expectations, on trial to continues and in we Colorado, in we to the exceed segment, remain pleased logins performance. Nat equity its In Points believe with smokers. awareness XX% water unique adult increased Specifically, West continues of and Marlboro.com loyalty it State grow and among super-premium the year-over-year and over build will and Sherman Texas. tobacco
result, cigars, the a In in into Nat's in continues expanded business the Sherman X.X% half. Nat additional As XX perform as mid-June. Western U.S. states reported and second well, for the grew to across X.X% the first quarter volume shipment
OCI the quarter, partially Skoal's and higher XX.X%. second primarily our share to grew a retail by retail declined retail expanded share adjusted volume. and share margins X.X segment, USSTC points remained to the quarter, Turning declined X.X adjusted smokeless of lower at pricing, offset driven by percentage were These XX.X%. OCI X.X%, results in USSTC's to unchanged XX.X%, share In point. Copenhagen's share points second two-tenths products
first Ste. grew by second equity our share in results. marketing in alcohol Michelle adjusted InBev's partially our the earnings InBev and quarter from X% investment and were of Turning $XXX In adjusted offset to OCI higher second by mix, Altria's sales quarter, quarter, million driven AB higher expenses. favorable beer, volume assets, in AB which the reflects
returning as of first represents dividends of Altria's respectively. Treasury. by shareholders dividend reward XX, and $X.X XXXX, July to rate to X.X% which In second and of paid and $X.XX billion, share an the cash current share a $X.X through the XXXX, repurchases. annualized yield to annualized X.X% per continued significant compares We we them to of of XX-year U.S. yield shareholders billion on dividend dividends half quarter
share complete that, $X a we and $XX.XX Through of XXXX. repurchase to repurchase for than second half the happy X.X approximately end we of take authorized remaining we of for which the board a to average and cost first We the we'll approximately million. $X total quarter, million expansion up, be in of XX.X program, billion repurchased end slightly wrap $XXX had also the at questions. the billion and Howard repurchased in of approximately the an XXXX, a second cost share the current $X price shares the of $XXX quarter million your by total shares May, million. program, the With In I quarter to expect billion at more will of
include posted I'll our items. available pricing, other which and calls today's reconciliations are on usual Operator, that the earnings inventory, quarterly you housekeeping release have questions? compiled, remind do non-GAAP and also any being While metrics, altria.com. We've our we are