Altria Group (MO) Q3 2026 earnings summary

Executive summary

• Q3 adjusted diluted EPS rose 4.8% to $1.52; strong nine-month results supported higher FY 2026 guidance of $5.66–$5.74, up 4.5%–6.0% from 2025’s $5.42.

• Smokeable products drove growth as oral tobacco faced lower shipment volumes and adjusted OCI; continued on! expansion and shareholder returns supported portfolio execution.

Financial highlights

• Q3 net revenue increased 1.0% to $6.132B; operating income rose 2.6% to $3.313B, and net earnings attributable to Altria increased 6.0% to $2.518B.

• Q3 reported diluted EPS rose 7.1% to $1.51 and adjusted diluted EPS rose 4.8% to $1.52; nine-month adjusted diluted EPS increased 5.1% to $4.33.

• Nine-month net revenue rose 1.4% to $17.671B; adjusted net earnings increased 4.0% to $7.245B.

• Adjusted operating companies income rose 3.9% to $3.072B in Q3 and 4.1% to $8.766B in nine months for smokeable products; adjusted equity earnings from ABI were $191M in Q3, up 21.7%.

Outlook and guidance

• FY 2026 adjusted diluted EPS guidance increased to $5.66–$5.74, implying growth of 4.5%–6.0% from the 2025 base of $5.42; prior growth guidance was 2.5%–5%.

• Guidance assumes NJOY ACE does not return to market in 2026, reinvestment of expected Optimize & Accelerate savings, continued Vision and manufacturing-capability investment, and moderated e-vapor growth.

• Guidance reflects macroeconomic uncertainty affecting adult nicotine consumers’ disposable income and purchasing behavior; no GAAP reconciliation is provided for the forward-looking range.

• USSTC facility consolidation is expected to be substantially complete in Q1 2028, with estimated pre-tax charges of ~$180M; Optimize & Accelerate charges are estimated at ~$175M total.