Altria stock gets higher outlook after resilient third quarter

Altria Group raised its 2026 adjusted earnings outlook after a resilient third quarter, while the board expanded the company's share repurchase authorization. The update was released on Thursday, October 29, 2026, with the results carried by Morningstar and Business Wire.

Adjusted diluted earnings per share rose 4.8 percent year over year to 1.52 US dollars in the third quarter. Reported diluted EPS increased 7.1 percent to 1.51 US dollars. Net revenue grew 1.0 percent to 6.132 billion US dollars, while revenue net of excise taxes increased 3.6 percent to 5.441 billion US dollars.

Guidance and capital returns

Altria now expects full-year 2026 adjusted diluted EPS of 5.66 to 5.74 US dollars, implying growth of 4.5 to 6.0 percent from the 5.42 US dollar adjusted EPS base in 2025. Management linked the higher outlook to performance through the first nine months and confidence in its full-year plan.

The board authorized a 1 billion US dollar expansion of the existing share repurchase program, which now expires on December 31, 2027. Altria repurchased 5.9 million shares for 400 million US dollars in the third quarter and 11.2 million shares for 735 million US dollars during the first nine months.

The company also said its quarterly dividend was raised by 4.7 percent in August to 1.11 US dollars per share. The increase was described as the 61st in 57 years and supports Altria's goal of mid-single-digit annual dividend-per-share growth through 2028.

Core tobacco trends remain mixed

Smokeable products continued to provide the main earnings support. Adjusted operating companies income in the segment increased 3.9 percent, while its adjusted margin edged up to 64.5 percent. Pricing and higher refunds of taxes and duties offset higher promotional investment, lower shipment volume and a less favorable product mix.

Domestic cigarette shipment volume fell 2.9 percent in the quarter. Marlboro's share of the premium segment reached 60.0 percent, up 0.3 percentage point from a year earlier, while the discount segment continued to gain importance as consumer purchasing power remained under pressure.

Smoke-free growth remains a strategic focus. Altria's Helix business expanded the on! PLUS portfolio with Blueberry Mint and Mango Pineapple flavors in multiple nicotine strengths, with another Watermelon Mint rollout planned for selected retailers in the fourth quarter.

Altria stock traded at 67.82 euros on Lang & Schwarz at 13:05 CET on Wednesday, November 11, 2026.

US equities remain the broader market backdrop for Altria, with investors weighing defensive cash returns against secular declines in combustible tobacco; see the current S&P 500 market environment.

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