Altria earnings date and guidance
Altria's next results are expected on October 29, 2026. The key thing to watch is whether on! PLUS reaches stores and generates profitable repeat purchases.
What has Altria guided for 2026?
Altria can reach $74.30 by October 2029 if cigarette pricing and cost control sustain cash while smoke-free products build profitable repeat demand. Management guides to 2026 adjusted diluted EPS of $5.61–$5.72. It expects 3.5%–5.5% growth. Capital expenditures are expected at $375–$450 million in 2026, with a 60.0% adjusted OCI margin target in both 2026 and 2027.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Adjusted diluted EPS | Year to Dec 2026 | 5.61 | 5.72 | Jul 30, 2026 |
| Adjusted diluted EPS growth | Year to Dec 2026 | 3.5% | 5.5% | Jul 30, 2026 |
| Capital expenditures | Year to Dec 2026 | 375 | 450 | Jul 30, 2026 |
| Total adjusted operating companies income (OCI) margin | Years to Dec 2026 and Dec 2027 | 60.0% | Jan 29, 2026 |
What this means. The 60.0 percent operating companies income margin is a minimum target for each year, not a forecast that the margin will be exactly 60.0 percent.
Has Altria kept its past promises?
In March 2023, Altria set a 2028 smoke-free net-revenue goal of approximately US$5 billion, including US$2 billion from innovative smoke-free products. By its 2025 results, it was reassessing those goals because illicit e-vapor products were disrupting the market. Unauthorized products accounted for an estimated 69.4% of U.S. e-cigarette sales in December 2025.
How have Altria’s revenue and profit trended?
Revenue was essentially unchanged, while reported operating income and diluted earnings per share fell. Adjusted earnings per share rose 2.8%, because the reported comparison included restructuring, litigation, investment and tax effects. Adjusted results therefore give the cleaner view of the quarter’s operating direction.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,111 | 5,428 | 5,846 | 6,072 | 6,102 | 5,259 | 5,974 | 6,259 |
| Gross margin | 62.5% | 64.6% | 62.1% | 62.8% | 63.1% | 61.8% | 60.3% | 60.8% |
| Operating income | 3,136 | 2,956 | 1,651 | 3,230 | 3,230 | 1,788 | 2,882 | 3,152 |
| Net income | 2,298 | 2,183 | 1,117 | 2,375 | 2,378 | 1,077 | 3,039 | 2,293 |
| EPS, diluted | 1.37 | 1.30 | 0.66 | 1.41 | 1.41 | 0.63 | 1.79 | 1.34 |
| = Free cash flow | 662 | 2,231 | 3,179 | 3,040 | 173 | 2,682 | 3,293 | 2,580 |
What should you watch in Altria’s next results?
The first checkpoint is Altria’s third-quarter results call on October 29, 2026. Management planned national expansion of 12-milligram on! PLUS after resuming shipments in Florida, North Carolina and Texas. Because that quarter has ended, investors should look for confirmation of actual store availability, not another intention. Distribution fills shelves; repeat purchases show whether consumers want the product.