Altria Reports 2026 First-Quarter Results; Reaffirms Full-Year Guidance

About this update from Altria Group, Inc.

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(NYSE: MO) today reports our 2026 first-quarter business results and reaffirms our guidance for 2026 full-year adjusted diluted earnings per share (EPS).","length":220,"tagName":"p"},{"type":"text","content":""We delivered a strong start to the year, growing adjusted diluted EPS by 7.3% in the first quarter," said Billy Gifford, Altria’s Chief Executive Officer. "Our highly cash-generative businesses supported significant returns to shareholders through dividends and share repurchases, while we continued to invest in support of our Vision."","length":357,"tagName":"p"},{"type":"text","content":""Our smokeable products segment generated strong income growth. Marlboro strengthened its position in the premium segment, and PM USA continued to execute its total portfolio strategy with discipline. In the oral tobacco products segment, on! performed well in a highly competitive marketplace and Helix expanded on! PLUS nationwide."","length":344,"tagName":"p"},{"type":"text","content":""We reaffirm our expectation to deliver 2026 full-year adjusted diluted EPS in a range of $5.56 to $5.72, representing a growth rate of 2.5% to 5.5% from a base of $5.42 in 2025."","length":189,"tagName":"p"},{"type":"text","content":" Altria Headline Financials 1 ","length":28,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;background-color:#CCEEFF;width:78%;padding-left:5.0px;","val":[{"type":"text","content":"($ in millions, except per share data)","length":38,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;background-color:#CCEEFF;padding-left:0.0px;width:11%;","val":[{"type":"text","content":" Q1 2026 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See "Basis of Presentation" for more information and see the schedules to this press release for reconciliations to corresponding GAAP measures. ","length":259,"tagName":"p"},{"type":"text","content":"As previously announced, a conference call with the investment community and news media will be webcast on April 30, 2026 at 9:00 a.m. Eastern Time. Access to the webcast is available at www.altria.com/webcasts .","length":211,"tagName":"p"},{"type":"text","content":" Cash Returns to Shareholders ","length":28,"tagName":"p"},{"type":"text","content":" Share Repurchase Program ","length":24,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"In the first quarter of 2026, we repurchased 4.5 million shares at an average price of $62.33 per share, for a total cost of $280 million.","length":138,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"As of March 31, 2026, we had $720 million remaining under our $2 billion share repurchase program, which expires on December 31, 2026. Share repurchases depend on marketplace conditions and other factors, and the program remains subject to the discretion of our Board of Directors (Board).","length":289,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":427,"olType":false},{"type":"text","content":" Dividends ","length":9,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"We paid dividends of $1.8 billion in the first quarter. Future dividend payments remain subject to the discretion of our Board.","length":127,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":127,"olType":false},{"type":"text","content":" 2026 Full-Year Guidance ","length":23,"tagName":"p"},{"type":"text","content":"We reaffirm our guidance to deliver 2026 full-year adjusted diluted EPS in a range of $5.56 to $5.72, representing a growth rate of 2.5% to 5.5% from a base of $5.42 in 2025. As a result of the strong first-quarter performance, we now expect 2026 adjusted diluted EPS growth to be more balanced between the first half and the second half of the year.","length":350,"tagName":"p"},{"type":"readMore"},{"type":"text","content":"Our reaffirmed guidance range now contemplates the impact of moderated e-vapor industry growth on combustible and e-vapor product volumes and increased macroeconomic uncertainty facing adult nicotine consumers.","length":210,"tagName":"p"},{"type":"text","content":"As previously disclosed, our guidance also contemplates:","length":56,"tagName":"p"},{"type":"text","content":"(i) a progressive increase in cigarette import and export activity over the course of the year;","length":95,"tagName":"p"},{"type":"text","content":"(ii) planned investments in support of our contract manufacturing capabilities;","length":79,"tagName":"p"},{"type":"text","content":"(iii) that NJOY ACE does not return to the marketplace in 2026;","length":63,"tagName":"p"},{"type":"text","content":"(iv) reinvestment of anticipated cost savings related to our Optimize & Accelerate initiative (Initiative); and","length":115,"tagName":"p"},{"type":"text","content":"(v) planned investments in support of our Vision.","length":49,"tagName":"p"},{"type":"text","content":" Our full-year adjusted diluted EPS guidance range excludes the impact of certain income and expense items that our management believes are not part of underlying operations. These items may include, for example, loss on early extinguishment of debt, restructuring charges, asset impairment charges, acquisition, disposition and integration-related items, equity investment-related special items, certain income tax items, charges associated with tobacco and health and certain other litigation items, resolutions of certain non-participating manufacturer (NPM) adjustment disputes under the Master Settlement Agreement (NPM Adjustment Items) and amortization expense associated with definite-lived intangible assets (amortization of intangibles). See Table 1 below for the income and expense items for the first quarter of 2026. ","length":828,"tagName":"p"},{"type":"text","content":" Our management cannot estimate on a forward-looking basis the impact of certain income and expense items, including those items noted in the preceding paragraph, on our reported diluted EPS because these items, which could be significant, may be unusual or infrequent, are difficult to predict and may be highly variable. As a result, we do not provide a corresponding GAAP measure for, or reconciliation to, our adjusted diluted EPS guidance. ","length":443,"tagName":"p"},{"type":"text","content":" ALTRIA GROUP, INC. ","length":18,"tagName":"p","attribs":{}},{"type":"text","content":" See " Basis of Presentation " for an explanation of the financial measures and reportable segments discussed in this release. ","length":133,"tagName":"p"},{"type":"text","content":" Financial Performance ","length":21,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net revenues increased 3.2% to $5.4 billion, primarily driven by higher net revenues in the smokeable products segment. Revenues net of excise taxes increased 5.3% to $4.8 billion.","length":180,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Reported diluted EPS increased over 100% to $1.30, primarily driven by higher reported operating companies income (OCI), which includes the 2025 non-cash impairment of the e-vapor reporting unit goodwill and lower costs associated with the acquisition of NJOY.","length":260,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted diluted EPS increased 7.3% to $1.32, driven by higher adjusted OCI and fewer shares outstanding.","length":105,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":545,"olType":false},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;border-top:solid black 1.0pt;border-left:solid black 1.0pt;padding-left:5.0px;width:62%;","val":[{"type":"text","content":" Table 1 - Altria’s Adjusted Results 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