Jun 2026 (Q2 FY26) — Jul 30, 2026
Altria Group Q2 FY26 — Narrowed EPS Guidance on Strong First Half Performance
Read the full callAltria Group (MO) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Altria Group earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 6,111 | +0.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 51.3 | −1.6 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 2,298 | −3.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
6 of 6 judged targets kept · 8 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Marlboro Cowboy Cut distribution expansion | expand Cowboy Cut distribution later in the second quarter of 2026 | Mar 2026 | As Marlboro Cowboy cut generated strong interest among premium smokers ... really pleased with the early introduction of Cowboy Cut | Achieved |
| Full-year adjusted diluted EPS | $5.56 to $5.72 (2.5% to 5.5% growth from a $5.42 base in 2025) | Dec 2025 | we are raising the lower end of our full year 2026 guidance. We now expect to deliver adjusted diluted EPS in a range of $5.61 to $5.72 representing a growth rate of 3.5% to 5.5% | Revised Up |
| Cigarette export volume and related duty-drawback tax refunds | export volume and related tax refunds higher in the second half of 2026, with a more balanced benefit across Q3 and Q4 | Jun 2026 | while refunds of taxes and duties paid on imported cigarettes for the quarter were flat sequentially due to timing factors, we continue to expect export volume and related tax refunds to be higher in the second half of the year with a more balanced benefit across the third and fourth quarters | New |
8 of ALTRIA GROUP, INC.'s 14 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 11 more targets are in the full ledger.
Claimed
- Adjusted diluted EPS grew by 4.9% to $2.80 in the first half of 2026.
- Smokable products adjusted OCI grew by 4.2% to $5.7 billion in the first half.
- on retail share reached 8.6%, up 0.8 share points sequentially, driven by on PLUS.
- PM USA total retail share expanded 0.1 share point sequentially and 0.3 share points year-over-year.
- ABI adjusted equity earnings increased 21.5% versus the prior year to $158 million.
Qualified
- on reported shipment volume was down 4.2% versus the prior year due to trade inventory movements.
- Marlboro's overall retail share declined 1.5 share points versus the year-ago period.
- Oral Tobacco Products segment adjusted OCI decreased by 8% in the second quarter.
- Total segment reported shipment volume decreased 8.5% for the second quarter due to lower MST volumes.
Price
$74.09 −1.36% · −$1.02
Performance +13.9% 1Y
1Y: $65.05 on 17 Oct 2025 → $74.09. High $75.11 (16 Oct 2026), low $54.72 (7 Jan 2026).
- Previous close
- $75.11
- 52-week range
- $54.72 – $75.11
- One year
- +15.05%
Overview
- Symbol
- MO
- Sector
- Consumer Staples
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
6 of 6 judged targets kept · 8 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Marlboro Cowboy Cut distribution expansion | expand Cowboy Cut distribution later in the second quarter of 2026 | Mar 2026 | As Marlboro Cowboy cut generated strong interest among premium smokers ... really pleased with the early introduction of Cowboy Cut | Achieved |
| Full-year adjusted diluted EPS | $5.56 to $5.72 (2.5% to 5.5% growth from a $5.42 base in 2025) | Dec 2025 | we are raising the lower end of our full year 2026 guidance. We now expect to deliver adjusted diluted EPS in a range of $5.61 to $5.72 representing a growth rate of 3.5% to 5.5% | Revised Up |
| Cigarette export volume and related duty-drawback tax refunds | export volume and related tax refunds higher in the second half of 2026, with a more balanced benefit across Q3 and Q4 | Jun 2026 | while refunds of taxes and duties paid on imported cigarettes for the quarter were flat sequentially due to timing factors, we continue to expect export volume and related tax refunds to be higher in the second half of the year with a more balanced benefit across the third and fourth quarters | New |
Claimed
- Adjusted diluted EPS grew by 4.9% to $2.80 in the first half of 2026.
- Smokable products adjusted OCI grew by 4.2% to $5.7 billion in the first half.
- on retail share reached 8.6%, up 0.8 share points sequentially, driven by on PLUS.
- PM USA total retail share expanded 0.1 share point sequentially and 0.3 share points year-over-year.
- ABI adjusted equity earnings increased 21.5% versus the prior year to $158 million.
Qualified
- on reported shipment volume was down 4.2% versus the prior year due to trade inventory movements.
- Marlboro's overall retail share declined 1.5 share points versus the year-ago period.
- Oral Tobacco Products segment adjusted OCI decreased by 8% in the second quarter.
- Total segment reported shipment volume decreased 8.5% for the second quarter due to lower MST volumes.
The full ledger
Open ALTRIA GROUP, INC.’s full ledger
A free account opens 5 company ledgers a month. All 14 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 30, 2026
Altria Group Q1 FY26 — Strong EPS Growth Driven by Smokeable Performance and on! PLUS Expansion
Read the full callDec 2025 (Q4 FY25) — Jan 29, 2026
Altria Group Q4 FY25 — Strong Financials & Smoke-Free Progress Amidst Regulatory Headwinds
Read the full callEvery analysed call
Altria Group earnings calls (MO)
Financials
What the filings say
Net profit, year on year: −3% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6,259 | 5,974 | 5,259 | 6,102 | 6,072 | 5,846 | 5,428 | 6,111 |
| Operating profit | 3,152 | 2,882 | 1,788 | 3,230 | 3,230 | 1,651 | 2,956 | 3,136 |
| Operating margin | 50.4% | 48.2% | 34.0% | 52.9% | 53.2% | 28.2% | 54.5% | 51.3% |
| Profit before tax | 3,026 | 2,777 | 1,683 | 3,118 | 3,075 | 1,513 | 2,859 | 2,929 |
| Tax rate | 24.2% | −9.4% | 36.0% | 23.7% | 22.8% | 26.2% | 23.6% | 21.5% |
| Net profit | 2,293 | 3,039 | 1,077 | 2,378 | 2,375 | 1,117 | 2,183 | 2,298 |
| EPS ($ per share) | 1.34 | — | 0.63 | 1.41 | 1.41 | — | 1.30 | 1.37 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 935 | 935 | 935 | 935 | 935 | 935 | 935 | 935 |
| Reserves | 43,962 | 36,539 | 34,679 | 30,664 | 29,792 | 31,094 | 35,516 | 35,452 |
| Total liabilities | 40,631 | 42,914 | 44,449 | 41,129 | 40,877 | 42,060 | 37,365 | 38,469 |
| Fixed assets | 1,938 | 1,999 | 2,012 | 1,553 | 1,608 | 1,652 | 1,617 | 1,710 |
| Total assets | 55,459 | 49,271 | 47,414 | 39,523 | 36,954 | 38,570 | 35,177 | 35,017 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 8,391 | 7,837 | 8,385 | 8,405 | 8,256 | 9,287 | 8,753 | 9,290 |
| Cash from investing | -12,988 | -2,398 | -143 | 1,212 | 782 | -1,283 | 2,175 | -341 |
| Cash from financing | 4,716 | -4,712 | -5,396 | -10,029 | -9,541 | -8,374 | -11,491 | -7,615 |
| Net cash flow | 119 | 727 | 2,846 | -412 | -503 | -370 | -563 | 1,334 |
| Capital expenditure | -238 | -246 | -231 | -169 | -205 | -196 | -142 | -216 |
| Free cash flow | 8,153 | 7,591 | 8,154 | 8,236 | 8,051 | 9,091 | 8,611 | 9,074 |
MO revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Smokeable Products | 89% | 88% | 88% | 88% | 89% | 88% | 88% | 88% | +0.7% |
| Oral Tobacco | 12% | 12% | 12% | 12% | 11% | 12% | 12% | 12% | -5.3% |
| All Other Segments | 0% | <1% | 0% | 0% | 0% | 1% | <1% | <1% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
MO operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Shipment volume on! | <44Mreported shipment volume grew by more than 44% year-over-year to nearly 44 million cans in the fourth quarter.Source: earnings call transcript | 39M+reported shipment volume to over 39 million cans, representing 18% growth.Source: earnings call transcript | 52.1Mreported shipment volume increasing by 26.5% to 52.1 million cans versus the year ago period.Source: earnings call transcript | 44M+reported shipment volume to more than 44 million cans.Source: earnings call transcript | 46M+portfolio grew nearly 18% and to over 46 million cans in the first quarter, reflecting continued demand for on!Source: earnings call transcript | 49.9MIn the second quarter, on reported shipment volume was 49.9 million cans, down 4.2% versus the prior year due to trade inventory movements.Source: earnings call transcript | — |
| Share of oral tobacco category on! | 8.9%performed well at retail, growing its share of the oral tobacco category by 2 share points year-over-year to 8.9% in the fourth quarter.Source: earnings call transcript | 8.8%continued its momentum at retail, expanding its share of the oral tobacco category to 8.8%, an increase of 1.8 share points versus the prior year and 0.10 share points sequentially.Source: earnings call transcript | 8.7%on!'s retail share of the total oral tobacco category was 8.7%, an increase of 0.7 share points versus the prior year.Source: earnings call transcript | 7.7%on!'s retail share of the total oral tobacco category was 7.7% for the fourth quarter and 8.2% for the full year.Source: earnings call transcript | — | 8.6%In the second quarter, on retail share reached 8.6%, up 0.8 share points sequentially and 0.3 share points year-over-year, driven by the introduction of on PLUS.Source: earnings call transcript | — |
| Share of premium segment Marlboro | 59.4%Within the highly profitable premium segment, Marlboro expanded its share of premium to 59.4% for the fourth quarter, an increase of 0.1 share point year-over-year and sequentially.Source: earnings call transcript | 59.3%In the first quarter, Marlboro expanded its share of the premium segment by 0.1 share point to 59.3% while other competitive brands ceded share.Source: earnings call transcript | — | 59.2%In the premium segment, competitive dynamics during the fourth quarter contributed to Marlboro's share premium decreasing 0.1 share points to 59.2%.Source: earnings call transcript | 59.5%In the first quarter, Marlboro expanded its share of the premium segment to 59.5%, up 0.1 share point versus the prior year and 0.2 share points sequentially.Source: earnings call transcript | 59.6%In the second quarter, Marlboro's share premium was 59.6%, unchanged versus the prior year and up one-tenth sequentially.Source: earnings call transcript | +0.1 pt |
| Stores on! PLUS | — | — | — | — | ~100KAnd at the end of the first quarter, it was available in approximately 100,000 stores, representing 85% of nicotine pouch category volume.Source: earnings call transcript | 120KIn smoke-free, Helix expanded on PLUS to 120,000 stores nationwide.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
37 filings between Dec 9, 2025 and Oct 14, 2026.
Open market
decisions to buy or sellPurchases
$101.4K
1 purchase by 1 insider
Sales
$2.45M
3 sales by 3 insiders
Compensation
not trading decisions- 24
- Award — granted as compensation
- 8
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Whitaker Charles N. | — | $1.89M | Mar 5, 2026 |
| KELLY ENNIS DEBRA J | — | $418.3K | May 26, 2026 |
| Strahlman Ellen R | — | $145.1K | May 26, 2026 |
| McQUADE KATHRYN B. | $101.4K | — | Sep 9, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 14, 2026 | Patterson Katie F Vice President and Controller | Tax withheld | 1,268 | $90.7K |
| Sep 9, 2026 | McQUADE KATHRYN B. Director | Purchase | 1,500 | $101.4K |
| May 26, 2026 | Strahlman Ellen R Director | Sale | 2,000 | $145.1K |
| May 26, 2026 | KELLY ENNIS DEBRA J Director | Sale | 5,790 | $418.3K |
| May 14, 2026 | YZAGUIRRE MARIO MAX Director | Award | 2,571 | $0 |
| May 14, 2026 | SHANKS VIRGINIA E Director | Award | 2,571 | $0 |
| May 14, 2026 | Davis Robert Matthews Director | Award | 2,571 | $0 |
| May 14, 2026 | KELLY ENNIS DEBRA J Director | Award | 2,571 | $0 |
| May 14, 2026 | Connelly Marjorie Mary Director | Award | 2,571 | $0 |
| May 14, 2026 | Clarke Ian L.T. Director | Award | 2,571 | $0 |
| May 14, 2026 | Stoddart Richard S Director | Award | 2,571 | $0 |
| May 14, 2026 | Strahlman Ellen R Director | Award | 2,571 | $0 |
| May 14, 2026 | McQUADE KATHRYN B. Director | Award | 4,656 | $0 |
| May 13, 2026 | Mancuso Salvatore Chief Executive Officer | Award | 40,634 | $0 |
| Mar 5, 2026 | Whitaker Charles N. SVP, Chief HR Off. & CCO | Sale | 27,908 | $1.89M |
| Feb 26, 2026 | Begley Jody L EVP and COO | Award | 17,166 | $0 |
| Feb 26, 2026 | Whitaker Charles N. SVP, Chief HR Off. & CCO | Award | 9,711 | $0 |
| Feb 26, 2026 | Whitaker Charles N. SVP, Chief HR Off. & CCO | Tax withheld | 8,932 | $622.6K |
| Feb 26, 2026 | Newman Heather A. SVP, Ch.Strategy & Growth Off | Award | 11,822 | $0 |
| Feb 26, 2026 | Newman Heather A. SVP, Ch.Strategy & Growth Off | Tax withheld | 11,343 | $790.6K |
| Feb 26, 2026 | Patterson Katie F Vice President and Controller | Tax withheld | 844 | $58.8K |
| Feb 26, 2026 | Mancuso Salvatore EVP & CFO | Award | 17,166 | $0 |
| Feb 26, 2026 | Mancuso Salvatore EVP & CFO | Tax withheld | 17,385 | $1.21M |
| Feb 26, 2026 | Gifford William F. Jr. Chief Executive Officer | Award | 70,364 | $0 |
| Feb 26, 2026 | Gifford William F. Jr. Chief Executive Officer | Tax withheld | 61,849 | $4.31M |
| Feb 26, 2026 | McCarter Robert A. III EVP & General Counsel | Award | 5,767 | $0 |
| Feb 26, 2026 | McCarter Robert A. III EVP & General Counsel | Tax withheld | 4,517 | $314.8K |
| Feb 26, 2026 | Begley Jody L EVP and COO | Tax withheld | 17,439 | $1.22M |
| Feb 25, 2026 | Mancuso Salvatore EVP & CFO | Award | 25,376 | $0 |
| Feb 25, 2026 | Whitaker Charles N. SVP, Chief HR Off. & CCO | Award | 13,534 | $0 |
| Feb 25, 2026 | Begley Jody L EVP and COO | Award | 22,448 | $0 |
| Feb 25, 2026 | McCarter Robert A. III EVP & General Counsel | Award | 22,448 | $0 |
| Feb 25, 2026 | Patterson Katie F Vice President and Controller | Award | 1,432 | $0 |
| Feb 25, 2026 | Newman Heather A. SVP, Ch.Strategy & Growth Off | Award | 11,973 | $0 |
| Feb 4, 2026 | Gifford William F. Jr. Chief Executive Officer | Gift | 15,700 | $0 |
| Dec 9, 2025 | Newman Heather A. SVP, Ch.Strategy & Growth Off | Award | 25,751 | $0 |
| Dec 9, 2025 | Whitaker Charles N. SVP, Chief HR Off. & CCO | Award | 17,168 | $0 |
| Aug 21, 2025 | Whitaker Charles N. SVP, Chief HR Off. & CCO | Tax withheld | 10,331 | $698.2K |
| Aug 21, 2025 | Mancuso Salvatore EVP & CFO | Tax withheld | 15,496 | $1.05M |
| Aug 21, 2025 | Newman Heather A. SVP, Ch.Strategy & Growth Off | Tax withheld | 10,331 | $698.2K |
| May 15, 2025 | Connelly Marjorie Mary Director | Award | 3,219 | $0 |
| May 15, 2025 | Davis Robert Matthews Director | Award | 3,219 | $0 |
| May 15, 2025 | KELLY ENNIS DEBRA J Director | Award | 3,219 | $0 |
| May 15, 2025 | McQUADE KATHRYN B. Director | Award | 5,828 | $0 |
| May 15, 2025 | MUNOZ GEORGE Director | Award | 3,219 | $0 |
| May 15, 2025 | SHANKS VIRGINIA E Director | Award | 3,219 | $0 |
| May 15, 2025 | Stoddart Richard S Director | Award | 3,219 | $0 |
| May 15, 2025 | Strahlman Ellen R Director | Award | 3,219 | $0 |
| May 15, 2025 | YZAGUIRRE MARIO MAX Director | Award | 3,219 | $0 |
| May 15, 2025 | Clarke Ian L.T. Director | Award | 3,219 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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