EarningsQ3 2026 Earnings Report
CH:MO Q3 2026 EPS Results
Actual EPSCHF1.25
Consensus EPSCHF1.24
Beat/MissBeat by +CHF0.01
One Year Ago EPSCHF1.19
CH:MO Q3 2026 Revenue Results
Actual RevenueCHF4.48B
Expected RevenueCHF4.38B
Beat/MissBeat by +CHF106.71M
YoY Revenue Growth+3.62%
Earnings Announcement Details
QuarterQ3 2026
Date10/29/2026
TimeBefore Open
Conference CallThursday, October 29, 2026
CH:MO Upcoming Earnings
Altria Group's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
CH:MO Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. Altria reported adjusted EPS growth, raised full-year guidance, delivered smokeable-products income and margin growth, expanded Marlboro and total PM USA share, grew on! shipments, increased shareholder returns, and maintained a strong balance sheet. These strengths were partly offset by persistent consumer economic pressure, cigarette and oral-tobacco volume declines, lower oral-segment OCI, competitive nicotine-pouch conditions, and ongoing illicit-market and regulatory challenges in e-vapor.Company Guidance
Adjusted EPS Growth and Raised Guidance
Adjusted diluted EPS increased 4.8% in the third quarter and 5.1% for the first 9 months. Based on strong first-9-month performance and confidence in the full-year plan, Altria raised its 2026 adjusted diluted EPS guidance to $5.66 to $5.74, representing growth of 4.5% to 6% from $5.42 in 2025, compared with its beginning-of-year guidance range of 2.5% to 5%.
Smokeable Products Operating Income Growth
Adjusted operating companies income in smokeable products grew 3.9% to $3.1 billion in the third quarter and 4.1% to $8.8 billion for the first 9 months. Adjusted OCI margins expanded to 64.5% in the third quarter and 64.8% for the first 9 months, up 0.1 percentage points and 0.4 percentage points, respectively.
Marlboro Premium Share Gains
Marlboro expanded its share of the premium segment to 60%, up 0.3 share points year-over-year and 0.4 points sequentially. Cowboy Cut provided a premium Marlboro option at the right price for value-sensitive smokers, was distributed in about 100,000 stores representing approximately 75% of cigarette volume, and contributed to Marlboro's third-quarter share performance.
Basic and Total PM USA Share Expansion
Basic's retail share expanded by 0.3 share points sequentially and 1.8 points year-over-year. Total PM USA retail share expanded 0.2 share points sequentially and 0.3 points versus the prior year, supporting management's stated total-portfolio approach.
Moderate Cigarette Volume Declines Relative to the Industry
Reported domestic cigarette volumes declined 2.9% in the third quarter and 2.8% for the first 9 months. After adjusting for trade inventory movements, Altria estimated declines of 4% in both periods, slightly below the estimated 5% industry decline.
Cigar Shipment Growth
Reported cigar shipment volume increased 0.9% in the third quarter and 2% for the first 9 months, with Middleton continuing to significantly outperform in a declining large mass cigar industry.
Strong on! Shipment Growth
Third-quarter on! reported shipment volume increased 13.3% to 47.8 million cans, while year-to-date reported shipment volume increased 7.7%. On! retail share was 8.3% in the third quarter, up 0.1 share points versus the prior year despite higher retail pricing and elevated competitive investment.
Nicotine Pouch Category Expansion
Altria estimated that the oral tobacco category increased 5.5% over the past 6 months. In the third quarter, the nicotine pouch category grew 5.8 share points and represented more than 60% of the total oral category.
Expansion of the on! PLUS Portfolio
Helix expanded on! PLUS 12-milligram nationally across mint, wintergreen and tobacco, and introduced Blueberry Mint and Mango Pineapple flavor extensions at retail. Watermelon Mint is planned for select retail locations in November, with additional flavor innovation planned.
Expanded on! Retail Visibility and Brand Investment
Helix's retail trade program secured premium positioning in stores representing approximately 90% of its volume. Helix also launched the inaugural on!vitational golf tournament as a planned multiyear brand platform, supported by digital content designed to extend adult nicotine consumer reach beyond the event.
Regulatory and Illicit E-Vapor Enforcement Developments
Following legal action by Helix and NJOY seeking an authorization process that meets the 180-day timeframe set by Congress, the FDA announced plans to evaluate changes to the PMTA framework and pursue new rulemaking. Altria also reported encouraging progress in federal, state and local illicit e-vapor enforcement. At the end of September, the company estimated approximately 20 million adult vapers, down 1 million from a year ago, primarily driven by fewer consumers using illicit products.
Improved ABI Equity Earnings
Altria recorded $191 million of adjusted equity earnings from ABI in the third quarter, an increase of 21.7% versus the prior year.
Significant Shareholder Returns
Altria returned over $6 billion to shareholders during the first 9 months, including $5.3 billion in dividends and $735 million in share repurchases. The Board increased the quarterly dividend by 4.7% to $1.11 per share, marking the 61st increase in 57 years, and authorized a $1 billion expansion of the existing share repurchase program through December 31, 2027.
Strong Balance Sheet
Altria's debt-to-EBITDA ratio was 1.9x as of September 30, in line with the company's target of approximately 2x.
Duty Drawback and Export Activity
The company benefited from duty drawback and exported 10% of its cigarette volume in the third quarter. Management said current contract manufacturing arrangements were contributing to the increase from the second to the third quarter, while the Philip Morris agreement is expected to begin in 2027.
Ongoing Smoke-Free and Vapor Innovation
Management said it plans to return NJOY ACE to the e-vapor market after working around the patent issues that forced the product's removal, although no timing was announced. The company plans to continue innovating on NJOY ACE and described its approach as disciplined and focused on competing profitably over time.
CH:MO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed