Altria Q2 2026: flat revenue, adjusted EPS of $1.48 misses consensus
Altria's second quarter was steady rather than strong: net revenues matched last year at $6.11 billion and adjusted diluted EPS of $1.48 came in below the $1.542 consensus, while the company narrowed full-year guidance to $5.61–$5.72 and raised the low end. The read-through is simple — cigarette pricing still funds the dividend, but oral tobacco is now the drag and profit quality leans on second-half timing benefits.
1 · Expected vs. Actual
Free preview belowReported diluted EPS fell 2.8% to $1.37 from $1.41, hit by lower operating companies income including higher litigation items and 2026 USSTC facilities consolidation costs. Adjusted diluted EPS rose 2.8% to $1.48, which still landed about $0.06 below the $1.542 consensus estimate. Fewer shares outstanding — 1,670 million versus 1,684 million — helped both numbers, so the underlying operating result was softer than the adjusted growth rate suggests.
Net revenues of $6.11 billion were essentially flat versus $6.10 billion a year earlier, a 0.1% move. Revenues net of excise taxes rose 1.2% to $5.36 billion, which tells you pricing did the work while shipment volume fell. Smokeable segment revenue rose 0.7% to $5.39 billion, but oral tobacco revenue dropped 5.3% to $713 million and is now the clear weak spot.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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