organization everyone. we to safe and Yet, two I'd and months to like changed the compassion, been and begin, thank and and have morning have past joining risen families exceptional and To that demonstrated I hope morning, challenging grit the challenge and us you for resilience. healthy. our way work. good this Thanks, and has Mac, you your live The are
the have I months, by up and with more popped four-legged two on who friends, their families, past than teams video impressed the children I'm and sometimes frame. the our Over connected time personal this We'll dedication employees, work get responsibilities and many significant challenging who of together stronger it. team, as our balancing a and with commitments. because resourcefulness of grow through are
for dedication I and we honor very future wish and his XX an also is this to ahead believe I'd have great leadership Howard lead truly Altria for a nearly we to retirement. company bright to thank and in It him of his well us. like years
on quarter And first challenges we the learned employees, to been brought as the COVID-XX COVID-XX navigated unprecedented for by a our rise focusing Altria's and time, of continuity environment welfare of out employees, dynamic and in we and our our of The as I've the company tobacco fortunate communities. in best that approached supporting here XX to effects face We've years. together business I've over health the pandemic. that work challenges. the the maintaining
businesses disruptions addition tirelessly are critical limit and protocols, our In social teams with our trade remote supply to working and chains to partners to distancing implementing working and distribution systems.
last two suspended temporarily COVID-XX. know, center, our we employees operations at you month As for positive of manufacturing our tested Richmond after
also We for efforts our support communities. products under focused our adult live employee and to And COVID-XX on committed facilities manufacturing work. our manufacturing have reopened initial enhanced and We're protocols. since the are $X million producing we safety of consumers. currently, the grower relief where for an communities supporting center We all
some flexibility through payments to and grant dollars sponsorship of providing relaxing non-profit with valued programs partners also Many To accelerating additional critical their considering requirements of streams. to we're hard general with operating funding this our have needs. use stretched time, and the reporting COVID-XX by them capacity. been disruptions We're hit support help and
support the non-profit the five we're front Additionally, giving we've employee also of on donated lines supplies an running to pandemic. and organizations campaign
and of with have donated more COVID-XX our tackling Like includes in the investor that many campaign. this other To-date, companies course challenges we're mind our of than our employees to key base. $XXX,XXX stakeholders
unprecedented we the results recent to to outlook, year. it's and the focused more balance the discuss investors important maybe on context but circumstances for the our dynamics our first Given believe set quarter of in interested some less some of the
first XX.X% driven tobacco our double-digit both diluted by by in start, OCI segments. the and core EPS adjusted excellent quarter grew from smokeable products To oral growth adjusted with performance businesses
to February, that the future. our portfolio the product vision corporate adult XX-year and science-based will we forward a In policy. lead drive discussed of to noncombustible announced our responsibly strategies we our to new And transition vision smokers related responsibility,
focus our portfolio product our on we'll remarks Today strategies.
investments Marlboro begin profitability, while with growth in strategy the of funding maximize Let's our noncombustible combustible which is with appropriately products. to product balancing
results higher due profit strong growth the offset part segment to growth resolution products delivered expanding net than more of X.X% smokeable in to This quarter. expenses than pricing Higher its pricing also its in drive quarterly continued The use revenue segment management. of adjusted volume by points. percentage OCI margins growing delivered OCI and higher quarter adjusted outstanding XX.X its and more first XX% to
Our by by including reported shipment factors cigarette traditional in one factors domestic loading shipping of trade and factors and adjusted in inventories, due day calendar several pantry consumer to quarter our the for X.X%. domestic differences due to inventories increased the cigarette volume When extra X.X% other first trade volume decreased increases COVID-XX.
adjusted likelihood to loading of X%. payback. volumes of by an to its our However be volume reported estimated domestic the these volume factors estimates consumer that should high we believe consumer factor adjusting When and for loading near-term cigarette pantry traditional decreased our preliminary pantry due
by first adjusted We X% differences decline trade calendar estimate for when U.S. cigarette quarter other inventory movements, that in volumes the and factors.
industry COVID-XX the loading in we pantry consumer quarter. to for X.X% adjustment additional that estimate by the volumes decline With due
and shipments impact pantry the trends. analyze them against and retail recent consumer historical and data to compare loading, of we retail estimate sales To
elevated few first foot expenditures the retail During stable observed of March weeks transaction. per we traffic tobacco and
orders March, traffic foot expenditures but retail enacted, However significantly decreased high. stay-in-home in tobacco remained late as were
a developments additional we'll our in available. environment. next continue before, of becomes trends quarter maintain including factors, marketplace full and adjusted X% true of the on said industry our based to more to law. Federal we we'll to decline We'll is as year such e-vapor As fluid difficult This estimate estimates periods. XXXX rate update XX monitor time Tobacco the We especially it's impact identify and monitor continue short X% regulatory to and dynamics data
the the quarter it's total category retail the premium share down first cigarettes XX.X%. but year Marlboro's XX.X% of was of share versus at year, cigarette X/XX remain versus flat prior prior
an older in several the in and number months, of XX Over aged observed last increase cigarette smokers the category. we've the
negative believe developments products, but switched and regulatory e-vapor recently due to have We in legislative smokers previously cigarettes these e-vapor category. to publicity and to returned the
over the adult discount our age greater a adult by first on demographics, than to smokers. younger shipment segments of branded the propensity purchase have gross and to discount retail XX the quarter premium X.X% for declining smokers X.X% Based and respectively. moderated volumes cigarettes smoker In
nearly quarter share as older However, contributed discount growth the first the we the believe partially due influx observed smokers to rate returning XX.X%. in doubled a is from in performance. prior volumes its adult this volumes of Marlboro's quarter to retail to deep We rapid and rise to significant cigarette increase deep discount category
loyalty position as and Marlboro with the pack, segment category. and Bold our premium such strategically position within of resources and its profit innovative to within leadership maintaining We We're premium the investments our Marlboro leading continuing the expansions Ice segment potential. Rewards; best product brand programs have its resell its focused maximize investments like prioritize the in believe while long-term behind Marlboro
monitor Looking discount dynamics impacts We're the at interaction primarily brands within segment. X/XX up we saw retail discount year, movement premium our and the the adult deep the increase to continuing tobacco driven segment, the discount prior share including the smoker segment, across categories. of versus by with
in USA to discount branded segment. PM continues profitably the compete
complementary serve offering, aged Chesterfield, focused USA XX on In adult older. recently a addition brand, to discount as L&M its and PM refreshed to smokers
Middleton large In cigars, quarter, We volume navigate reported cigar is outpacing category. to framework. machine-made manufacturer the the the in the FDA increased best-positioned first cigar Middleton's believe XX.X%
has already the substantial expects equivalence remainder by pre-market company for of submit the of September of to volume applications deadline The authorization new its current and nearly XX% received X.
product our turn now portfolio and strategy to the new Let's second vision.
develop expand portfolio actively adult will and products FDA-authorized non-combustible we years our to XX smokers next of the convert them. Over and
non-combustible play portfolio Currently, will tobacco, we're consumer transition. that oral in tobacco And adult popular believe heated three We in a leading most tobacco. cigarettes. will role, the platforms, play unmatched our significant tobacco focused from oral and that a transition on e-vapor role
Copenhagen, within and and strengths, categories. brands offerings pouch tobacco a product wide MST Skoal the nicotine, adult with satisfying own of Our and the oral consumers within provide flavours range both
adjusted in first to the oral segment its expanding growing and by points. quarter, OCI performed margins its Our over OCI adjusted XX XX%, exceptionally percentage Products well tobacco
for growth, more snus quarter. As drive pricing a and segment investments and in to OCI on! the nicotine our includes oral oral Higher products. pouch volume MST reminder, offset than higher tobacco the
the We pouches six in U.S. the snus. estimate rapid oral growth MST X% declines more nicotine in volume tobacco oral increased as that over last than and volumes industry offset months,
adjusted retail When pantry loading volumes, and we due industry estimate X%, U.S. tobacco for over months. that oral by COVID-XX, past estimated increased to six the consumer
to the share MST, points, the the mix XX.X% between the leader and within remain XX.X% oral continues was nicotine category. and we continuing increased performance segment with share. tobacco due oral with for market by First Copenhagen share quarter declined the Segment shift X.X be retail pleased traditional retail profitability and Copenhagen's a to MST share pouches
The the fixture the first through convenience at top stores space available including chains the store premium visibility volume. most stores. cans retail purchase XX,XXX over newly its redesigned in we're enhancing on! sold and on! end now are of in for by five quarter
is and both We a on! compelling dippers adult for believe proposition smokers.
that it's test continuing Although momentum approaches. at on! retail several go-to-market encouraged by building we're days the is early we're and to
recently first chains For volume chains are in period. sales programs store much the example states. we large results the quarter. different promotional promotional during In And of in more ran, maintained importantly both convenience of momentum the throughout two that accelerated here on! that
to adult the are adopting in pace is the time of believe we duration To-date, Zyn's on! market. at related tobacco which consumers
we Colorado, been expected example since as available environment a in For Zyn XXXX. competitive has
its where faster that after In for just promotional adoption XX But few short sold the velocity momentum a of continued on! on! and Zyn only Carolina has months. chain we doubled quite pleased we're been the in observed within months, has North period.
our our public strong and of is on! demonstrates file application appropriate that our We're in preparing PMTA the to evidence package of that studies. scientific of to we health. the And results portfolio the for on! for the May. expect by encouraged We're believe of marketing protection the a submission research FDA
plans finalizing for our teams and the for science submission pursue risk application regulatory modified a After will PMTA on!.
Turning the regulatory of legislative in to continues category ongoing to developments. and light remain e-vapor, dynamic
menthol prior volumes the to flavored due pod in the ENDS believe In the or the January, first quarter, FDA declined bans total and issued sequentially is e-vapor guidance e-vapor by XX% the partially products. decline XX%, all We year. estimated versus which volume nontobacco by
investment With operating investment in Mark due Nu intend to Trade an services to company defend U.S. minority our our anticompetitive the decision the our its the PMTA to complaint to JUUL, recently provide Federal The to in quarter decision support FTC their the meantime, to file close affairs alleges transaction. announced We administrative of Commission minority JUUL, the challenging that fourth filing. we're including continuing for vigorously investment. regulatory In the is XXXX.
and about our marketing remain opportunity person-to-person In us IQOS stores to resume Unfortunately be to U.S. public close COVID-XX approach. adjust caused commercialization excited our health to Richmond our pause introduce temporarily interactive We'll the as guided We've heated efforts plans. the marketing stores IQOS when and authorities smokers. had adult interactive to contact. outbreak and our to tobacco has reopen we'll limit by to the we Atlanta
in In drive Also have XXX marketing website. remain retail we than IQOS efforts Richmond stores more through Atlanta digital available HeatSticks to education product inventories. awareness and the we and currently the we're continuing sale meantime our and sufficient believe on-hand for across generate
launch back to Additionally we concerns. pushed due COVID-XX the Charlotte
and a from aid IQOS including proposition purchase. and be as the and at less enhancements retail We of flexible awareness real point expansion a no look and pop-ups tobacco disruptive its both fixtures retail marketing more Charlotte emphasis several displayed the include odor units believe will as prominently such pods. greater of ash Our will on will earlier brand enhanced launches, our
modern We're look we Morris continue application Philip This optimistic IQOS about authorization. X.X recently has encouraged be than and MRTP supplemental charges FDA enhanced version. remains with PMTA X.X for pending IQOS a faster more for the its submitted to the device currently that PMI's International and a X. has authorized
and alcohol discuss the our now Let's performance adjacent of cannabis assets.
and due first experiencing as challenging its have headwinds In pandemic. our the for Ste. was negatively consumer our both demand the These been AB InBev by COVID-XX The uncertainty for impacted is Michelle investment Michelle equity further and adult quarter alcohol wine, Ste. preferences to increased evolving underperformed in prior assets the versus year. in dynamics products.
quarter than an result on Ste. these quarter million ABI million first $XXX to quarter they Michelle recorded a from as Ste. grape underlying representing first and due adjusted more on-premise lower of quarter ABI's a fourth first consisting As results. write-down XX% estimated results. sales adjusted We including of and OCI volume, wine XX%, treated $XXX of loss special future shipment Michelle's decreased due items, share beer, charges commitments. Altria's inventory from were charges excess of were down excluded COVID-XX. In earnings lower nearly equity to XXXX non-cancelable
were included certain be our instruments will these results our We've our special results treating associated exclude in financial compensation excluded prior change. activity These this as previously reflect ABI's share-based amounts our to from now release described press our we'll adjusted its of them in be relating adjusted this As share with but earnings. to quarter and mark-to-market period results items beginning recast program.
Turning recently of Cronos three XXXX. to Committee quarters of review a the disclosed transactions, cannabis. which in of certain of resulted the restatement first its financial revenue Audit results
and consistently As is take remedial a major were the internal matters expect that Cronos -- these Cronos although, financial implementing and restatements we seriously reporting changes. processes. we maintain All believe controls us these these shareholder, adequate appropriate to immaterial to
quarter $XX In primarily Cronos adjusted Cronos' loss quarter, our the we related XXXX an which results. our first to share recorded of of fourth represents investment, million
given Cronos' asset strategy is the global We evolving nature of the light prudent market. believe that cannabis continue to
discuss let's capital and allocation guidance. Finally,
cash to As the strategies that liquidity over XX%. fortunate the to quarter we at highly COVID-XX. We're businesses are progress through impacts generative cash manage develop convert of our and income
share believe to credit liquidity a In prudent further rescinded $XXX down take revolving environment. it Board program, halted the to drew fully position. our our we This share existing billion repurchases quarter, However, we facility, our to a first preserve which had and in additional actions the this precautionary flexibility measure. balance $X repurchase was strengthen week, as million financial
manage EPS to guidance. scenarios, today's After expect XXXX normal quarters, the cash to coming dividend, hand. cash uncertainties year impact to maintain withdrawing than of the of and related a to adjusted economic $X through balance we're COVID-XX funding we billion the And we our potential full higher Due have the on recovery for pandemic approximately the disruptions. diluted
to Let's walk through that the factors that led decision. us
due provide ABI contributor believe, you to our its performance. on withdrawn misalignment there COVID-XX. would expected ABI has financial a clarity As financial impacts the forecast know, is XXXX of to forecast without to significant our greater we earnings and ABI's be
a adult wide pressure recessionary economic a backdrop rise throughout There's that the and we unemployment observed a consumers. a we also the increased peak for year. anticipate and perspective, recovery. economist rates on to We've expect unemployment From tobacco range predictions of financial of level macroeconomic persist in
categories. will of depend The unemployment increased For duration several and MST prices, higher consumers, the factors factors our severity with including and both payments. offsetting impacts within in the COVID-XX of potential increase degree on expect cigarette lower benefits stimulus adult unemployment the depth of gas an and the tobacco and government down-trading of we down-trading
For our the our a stabilizes. and withdraw tobacco the help combination long-term manage COVID-XX to and to impact for EPS to time. guidance situation these time expect the right have success. at decided continuing virus reestablish factors, we believe of we to We're the tools navigate guidance monitor business we the appropriate the we until as the businesses, uncertain Due through we to difficult of
adjusted Form compounded that earnings XX-Q Please release impact we've business to diluted As for our today the of we XXXX, related growth reference objective. additional disclosures our withdrawing withdrawn also of a and result filed annual COVID-XX. our guidance three-year for
priority to that to Turning investors dividends. our us. We is and understand our top it important dividend a remains for
Our to EPS provide a guidance full objective on the diluted greater ratio year transparency Since this XX% dividend be our year. with of due of to we dividend to of approximately investors continues we COVID-XX, withdrawn will we target impacts approach wanted a adjusted have how EPS. the payout
quarterly expect and to Board rate to a dividend the we generation recommend balance among strong our our things that For strength reflects cash our of other sheet. XXXX,
our and happy questions? have any we remarks do your be to we questions. will That take concludes Operator,
