Altria Group (NYSE:MO) Posts Earnings Results, Misses Expectations By $0.02 EPS

01 Aug 2026, 16:26 by Michael Walen · The Markets Daily

Altria Group (NYSE:MO – Get Free Report) released its earnings results on Thursday. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02), FiscalAI reports. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.35 billion. Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. Altria Group updated its FY 2026 guidance to 5.610-5.720 EPS.

Here are the key takeaways from Altria Group’s conference call:

Adjusted diluted EPS rose 2.8% in Q2 and 4.9% in the first half, prompting Altria to raise the lower end of its 2026 guidance to $5.61–$5.72. The company returned nearly $3.9 billion to shareholders through dividends and share repurchases during the first half.
Altria’s smokeable products business delivered 2.4% adjusted operating income growth in Q2, with margins expanding to 64.8%. Marlboro maintained its premium leadership, while targeted Basic promotions helped capture discount-segment share and support PM USA’s overall profitability.
The nicotine pouch brand on! gained retail share after the national expansion of on! PLUS, reaching 8.6% share, up 0.8 percentage points sequentially. Helix plans a national rollout of 12 mg products in Q3 and additional flavors in Q4, although Q2 on! shipments declined 4.2% because of trade inventory and comparison effects.
Consumer pressure from inflation and elevated gas prices is driving continued trade-down into discount cigarettes; Marlboro’s overall retail share fell 1.5 percentage points year over year. Oral tobacco adjusted operating income also declined 8% in Q2 because of difficult comparisons and investments behind on! PLUS.
Management viewed recent FDA enforcement and guidance on illicit e-vapor and nicotine pouch products as constructive, and said it plans to reenter e-vapor with a modified NJOY ACE after its supplemental PMTA progresses. However, illicit flavored disposables remain prevalent and no timing was provided for the product’s return.

Altria Group Stock Up 0.8%

Shares of MO stock traded up $0.52 on Friday, reaching $68.46. The stock had a trading volume of 11,152,772 shares, compared to its average volume of 7,322,830. Altria Group has a 12 month low of $54.70 and a 12 month high of $77.06. The firm has a market capitalization of $114.32 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.45 and a beta of 0.45. The firm’s 50-day moving average is $71.72 and its two-hundred day moving average is $68.30.

Altria Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were paid a dividend of $1.06 per share. The ex-dividend date was Monday, June 15th. This represents a $4.24 annualized dividend and a dividend yield of 6.2%. Altria Group’s payout ratio is currently 89.45%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MO shares. UBS Group raised their price objective on Altria Group from $76.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Barclays upped their price target on shares of Altria Group from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Friday, May 15th. BTIG Research assumed coverage on shares of Altria Group in a research report on Tuesday, July 21st. They set a “neutral” rating for the company. Stifel Nicolaus boosted their price objective on shares of Altria Group from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Bank of America increased their target price on Altria Group from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and a consensus price target of $70.78.

Check Out Our Latest Stock Report on Altria Group

Altria Group News Summary

Here are the key news stories impacting Altria Group this week:

Positive Sentiment: Altria’s second-quarter adjusted EPS rose from $1.44 to $1.48 year over year, while revenue reached approximately $5.36 billion, slightly above analysts’ expectations. Higher cigarette pricing, particularly for Marlboro, helped offset declining shipment volumes. Altria Group Q2 Adjusted Earnings, Revenue Rise; Fiscal 2026 Adjusted EPS Outlook Narrowed
Positive Sentiment: The company highlighted expansion of its on! PLUS nicotine pouch brand to roughly 120,000 stores and continued investment in smoke-free products, supporting expectations for long-term category growth. Shareholder returns and resilient cash flow also remain attractive to income-focused investors. Altria Q2 Earnings Call Highlights Smoke-Free Growth Plans
Neutral Sentiment: Altria narrowed its fiscal 2026 adjusted EPS outlook to $5.61-$5.72, broadly surrounding the analyst consensus of $5.68. The revised range offers some earnings visibility but suggests limited near-term upside without stronger volume or smoke-free growth. Altria Group Q2 Adjusted Earnings, Revenue Rise; Fiscal 2026 Adjusted EPS Outlook Narrowed
Negative Sentiment: Second-quarter EPS of $1.48 missed the $1.50 consensus estimate. Cigarette volumes weakened as inflation encouraged some consumers to trade down from premium Marlboro products, while softer oral-tobacco sales and intensified nicotine-pouch competition pressured results. Altria Q2 Earnings Miss Estimates, Cigarette Volumes Down
Negative Sentiment: Levi & Korsinsky announced an investigation into whether Altria accurately described the FDA regulatory status of on! PLUS and the prospects for near-term authorization of additional applications. The inquiry adds potential legal and regulatory overhang to the stock. Altria Group Investigation Notice

Insider Transactions at Altria Group

In other Altria Group news, Director Ennis Debra J. Kelly sold 5,790 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the transaction, the director owned 73,809 shares of the company’s stock, valued at $5,332,700.25. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the sale, the director directly owned 25,102 shares of the company’s stock, valued at approximately $1,821,401.12. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in Altria Group by 64.7% in the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after purchasing an additional 6,954 shares during the period. Sivia Capital Partners LLC increased its position in Altria Group by 86.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock worth $373,000 after buying an additional 2,946 shares during the period. Schnieders Capital Management LLC. lifted its holdings in shares of Altria Group by 6.9% during the second quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock worth $565,000 after buying an additional 618 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Altria Group in the second quarter valued at about $346,000. Finally, AXA S.A. acquired a new position in shares of Altria Group in the second quarter valued at about $5,752,000. 57.41% of the stock is owned by institutional investors.

About Altria Group

(Get Free Report)

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.