EarningsQ2 2026 Earnings Report
IT:1MO Q2 2026 EPS Results
Actual EPS€1.32
Consensus EPS€1.33
Beat/MissMissed by -€0.01
One Year Ago EPS€1.28
IT:1MO Q2 2026 Revenue Results
Actual Revenue€4.77B
Expected Revenue€4.76B
Beat/MissBeat by +€9.60M
YoY Revenue Growth+1.25%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
IT:1MO Upcoming Earnings
Altria Group's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
IT:1MO Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized solid financial performance and disciplined execution: EPS growth (Q2 +2.8%, H1 +4.9%), expanded smokeable margins, a narrowed full-year EPS range, substantial shareholder returns (~$3.9 billion YTD), ABI earnings growth (+21.5%), and strategic expansion of the smoke-free on! PLUS offering to ~120,000 stores. Offsetting items included a weaker Oral Tobacco quarter (adjusted OCI down 8% Q2), reported shipment declines affected by trade inventory timing, ongoing cigarette volume declines (adjusted ~-4.5% Q2) and continued consumer trade-down toward discount brands. Management highlighted favorable regulatory and enforcement developments that could benefit regulated smoke-free products over time. On balance, the positives around profitability, cash returns, regulatory tailwinds and product expansion were presented as outweighing near-term volume and segment-specific headwinds.Company Guidance
EPS Growth and Guidance Narrowing
Adjusted diluted EPS increased 2.8% to $1.48 in Q2 and 4.9% to $2.80 for the first half. Management raised the lower end of full-year 2026 adjusted diluted EPS guidance to a range of $5.61 to $5.72 (growth of 3.5% to 5.5% vs. $5.42 in 2025) and narrowed guidance for the year.
Strong Smokeable Products Profitability
Smokeable products adjusted OCI grew 2.4% to $3.0 billion in Q2 and 4.2% to $5.7 billion for the first half. Adjusted OCI margins expanded to 64.8% in Q2 and 64.9% for H1. Smokable price realization was +4.5% in the quarter, supporting margins.
Material Shareholder Returns and Capital Allocation
Returned nearly $3.9 billion to shareholders in H1 (approximately $3.6 billion in dividends and repurchased 5.3 million shares for $335 million). $665 million remained available under the current share repurchase program. Debt-to-EBITDA was 1.9x, in line with the target of ~2.0x.
on! PLUS National Expansion and Early Market Traction
Helix expanded on! PLUS to ~120,000 stores (covering ~90% of nicotine product volume). on! reported Q2 shipment volume of 49.9 million cans (YTD +5.1%). on! retail share reached 8.6%, up 0.8 share points sequentially and 0.3 share points year-over-year, with encouraging repeat purchase rates for NICOSILK soft pouch.
Positive ABI Contribution and Cash Generation
Adjusted equity earnings from ABI were $158 million in Q2, up 21.5% year-over-year. Management emphasized strong cash generation and flexibility to manage near-term debt maturities and pursue capital-efficient uses of excess cash.
Regulatory and Enforcement Developments Favor Smoke-Free Strategy
FDA updated enforcement priorities for certain e-vapor and nicotine pouch products, which Altria views as increased regulatory clarity. Elevated enforcement actions (including federal seizures >$250 million and state litigation) are reported to be moderating illicit e-vapor growth and could improve conditions for regulated products over time.
IT:1MO 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