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Altria also recognized the risk cliff between combustible and smoke-free tobacco products, stating, FDA and other public health authorities agree that there is a broad continuum of risk among tobacco products, with combustible cigarettes at the highest end of that spectrum and complete cessation at the lowest end. The company has indicated that since heated tobacco products deliver nicotine without combustion, when cigarette smokers transition to these products, they have the potential to significantly reduce their exposure to the toxic constituents found in cigarette smoke

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The COVID-19 pandemic continues to contribute to volatility in the domestic and global economies, including disruptions in the supply and distribution chain and changes in consumer behavior, the Richmond, Va.-based company said in its earnings report