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How Altria (MO) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/30/2026
Altria Group, Inc. is an American corporation and one of the world's largest producers and marketers of tobacco, cigarettes, and medical products in the treatment of illnesses caused by tobacco. · Wikipedia
More about the company
It operates worldwide and is headquartered in the city of Richmond, Virginia.
Key growth driver: Pricing power in smokeables offsets volume declines; on! nicotine pouches and NJOY. · by the Q2 2026 report
How does Altria make money?
Altria brought in $6.11 billion of revenue in Q2 2026, up 0.1% year over year. The largest source was Smokeable Products: $5.39 billion, or 88% of the total, followed by Oral Tobacco Products ($713M, 12%). Net income for the quarter was $2.30 billion, down 3.4% year over year.
Revenue by source, Q2 2026
- Smokeable Products$5.39B · 88% · +0.7%
- Oral Tobacco Products$713M · 12% · −5.3%
- All Other$6.0M · <0.1%
Shares of $6.11B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is MO’s next earnings date?
Thursday, October 29, 2026confirmed · before market open
Altria (MO) is scheduled to report results for the quarter ending Sep 2026 on Oct 29, 2026. Consensus EPS forecast: $1.50 (5 analysts), vs $1.45 in the same quarter last year.
What time does MO report? Usually before market open: the last 4 results releases reached the SEC at 7:06 am, 7:05 am, 7:04 am, 7:03 am ET.
Last report: Jul 30, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$6,111
+0.1%
Gross profit
$3,820
−0.8%
62.5% margin
Operating income
$3,136
−2.9%
51.3% margin
Net income
$2,298
−3.4%
$1.37 diluted EPS
Verdict: a steady but unspectacular quarter — flat revenue and a 2.9% operating income decline driven by litigation charges and USSTC facilities consolidation costs in oral tobacco, partly offset by resilient smokeable pricing and lower ABI equity income drag, leaving net earnings down 3.4% while adjusted EPS still grew 2.8% on buybacks.
H1 shareholder returns ≈$3.9B (dividends $3.6B + buybacks $335M); Q2 buybacks $55M (0.8M shares); FY2026 adjusted diluted EPS guidance narrowed to $5.61–$5.72 (+3.5% to +5.5% vs $5.42 base); FY2026 capex guidance raised to $375M–$450M.
Source and notation
* marks non-cash / ≈ estimated. Source: Altria Group press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
MO earnings history: past report dates
| Jul 30, 2026 Thu | 7:06 ambefore market open | Jun 30, 2026 | $6.1B+0% y/y | $1.37−3% y/y |
| Apr 30, 2026 Thu | 7:05 ambefore market open | Mar 31, 2026 | $5.4B+3% y/y | $1.30+106% y/y |
| Jan 29, 2026 Thu | 7:04 ambefore market open | Dec 31, 2025 | ≈$5.8B−2% y/y | ≈$0.67−62% y/y |
| Oct 30, 2025 Thu | 7:03 ambefore market open | Sep 30, 2025 | $6.1B−3% y/y | $1.41+5% y/y |
| Jul 30, 2025 Wed | 7:03 ambefore market open | Jun 30, 2025 | $6.1B−2% y/y | $1.41−36% y/y |
| Apr 29, 2025 Tue | 7:03 ambefore market open | Mar 31, 2025 | $5.3B−6% y/y | $0.63−48% y/y |
| Jan 30, 2025 Thu | 7:03 ambefore market open | Dec 31, 2024 | ≈$6.0B−0% y/y | ≈$1.78+53% y/y |
| Oct 31, 2024 Thu | 7:03 ambefore market open | Sep 30, 2024 | $6.3B−0% y/y | $1.34+10% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Altria: 5-year financials
| 2025 | 23,279 | 9,899 | 6,947 | 9,074 | 6,960 |
| 2024 | 24,018 | 11,241 | 11,264 | 8,611 | 6,845 |
| 2023 | 24,483 | 11,547 | 8,130 | 9,091 | 6,779 |
| 2022 | 25,096 | 11,919 | 5,764 | 8,051 | 6,599 |
| 2021 | 26,013 | 11,560 | 2,475 | 8,236 | 6,446 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1.5/2mostly good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Mar 2022The court approved the settlement of the Altria shareholder class action over statements about its JUUL investment: Altria paid $90M (including attorneys' fees) without admitting wrongdoing. sec.gov ↗
- Feb 20262025 10-K: a single class of common stock; the SEC conducted an investigation into disclosure and controls related to the JUUL investment — no sanctions disclosed. sec.gov ↗
- Dec 2025Dividend per share rose from $3.40 (2020) to $4.16 (2025); diluted share count −9.5% over 5 years. data.sec.gov ↗
Scoring: 2.0 −0.5 (criterion 9: shareholder class action over misleading statements about the JUUL investment settled for $90M, paid in January 2022) = 1.5
- Share classes
- Single class — MO common stock on the NYSE (cover of 2025 10-K); everything else is notes.
- Dilution
- Diluted share count 2020→2025 −9.5% (XBRL); SBC immaterial.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- Dividend per share raised every year: $3.40 (2020) → $4.16 (2025); buybacks of $1–3.4B a year.
- Lawsuits & regulators
- The JUUL shareholder suit was settled for $90M (approved in March 2022) — 0.5 deduction; derivative suits were settled in 2022 (money paid to the company — not a deduction); the SEC investigation into disclosure/accounting of the JUUL investment is mentioned in the 10-K with no charges or sanctions — no deduction.
- Related parties
- 2026 proxy: a related-party transaction policy is in place, no material transactions disclosed; no controlling shareholder; the $12.8B JUUL investment (2018) was a failure but not a related-party transaction.
How the score works · checked as of Sep 2026
Altria (MO) earnings: FAQ
How does Altria make money?
Altria brought in $6.11 billion of revenue in Q2 2026, up 0.1% year over year. The largest source was Smokeable Products: $5.39 billion, or 88% of the total, followed by Oral Tobacco Products ($713M, 12%). Net income for the quarter was $2.30 billion, down 3.4% year over year.
When is MO's next earnings date?
Altria (MO) is scheduled to report on Oct 29, 2026, before market open.
What time does MO report earnings?
Altria is scheduled to report before market open on Oct 29, 2026. Its last results releases were filed before market open, most recently at 7:06 am ET on Jul 30, 2026.
When did MO last report earnings?
Altria reported Q2 2026 results on Jul 30, 2026.
What is the EPS estimate for MO's next earnings?
The consensus EPS forecast is $1.50 (5 analysts), vs $1.45 in the same quarter last year.
Where can I find Altria's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to MO's filings; this page breaks the latest report down in a Sankey chart.
What was MO's net income in Q2 2026?
Altria reported net income of $2,298M for Q2 2026 (−3.4% year over year), under US GAAP.
Does Altria pay dividends?
Yes. In 2025, Altria paid $6,960M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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