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Altria Group, Inc. (MO) Q2 FY2026 Financial Statements: Net revenues $6.11B, Net earnings $2.30B

CIK 0000764180 · NYSE · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0000764180-26-000094) · Annual report: FY2025 10-K (filed 2026-02-25, accession 0000764180-26-000017) · Next expected filing: 10-Q ~2026-10-29

More for Altria: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026

Published

Altria Group reported $6.11 billion in net revenues for Q2 FY2026, the quarter ended June 30, 2026, up 0.1% from a year earlier, with net earnings of $2.30 billion, down 3.4%, and diluted earnings per share of $1.37, down 2.8%. Revenue net of excise taxes was $5.36 billion, up 1.2%, as higher cigarette pricing lifted the smokeable products segment to $5.39 billion and offset lower cigarette shipment volume and a decline in oral tobacco revenue. Earnings slipped against a steady top line in part because operating income fell, held back by charges for the planned consolidation of U.S. Smokeless Tobacco Company manufacturing from Nashville, Tennessee to Hopkinsville, Kentucky and by higher general corporate expenses; lower income from investments in equity securities, lower net periodic benefit income and higher interest and other debt expense accounted for most of the remaining decline in pre-tax earnings; a lower income tax provision cushioned the fall in net earnings. Excluding the consolidation charge and other special items, Altria's adjusted net earnings and adjusted diluted earnings per share both rose. Altria declared a quarterly dividend of $1.06 per share in the quarter, up 3.9%.

MetricAmountvs. year ago
Net revenues$6,111,000,000up 0.1%
Net earnings$2,298,000,000down 3.4%
Diluted EPS$1.37down 2.8%
Revenue net of excise taxes$5,356,000,000up 1.2%
Smokeable products revenue$5,392,000,000up 0.7%
Dividend declared per share$1.06up 3.9%

About this file

TickerMO
CIK0000764180
CompanyAltria Group, Inc.
Business typeconsumer staples (tobacco and nicotine products)
Schema templatestandard consumer-products: revenue, cost of sales, gross profit, operating income, net earnings, EPS; cash, debt, assets, equity; operating cash flow, capital expenditures, free cash flow, dividends, extended with the excise-tax line and the segment operating companies income measure Altria manages the business on
Reporting currencyUSD
Converted to USDno
Unitsactual dollars (not millions); share counts in actual shares; per-share amounts in dollars per share

MO annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Fiscal year202520242023
LabelFY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession0000764180-26-0000170000764180-26-0000170000764180-26-000017
Income statement
Net revenues23,279,000,00024,018,000,00024,483,000,000
Cost of sales5,597,000,0006,077,000,0006,218,000,000
Excise taxes on products3,140,000,0003,574,000,0003,981,000,000
Gross profit14,542,000,00014,367,000,00014,284,000,000
Marketing administration and research costs2,507,000,0002,737,000,0002,737,000,000
Asset impairment and exit costs978,000,000389,000,0000
Impairment of goodwill1,158,000,00000
Operating income9,899,000,00011,241,000,00011,547,000,000
Interest and other debt expense net1,079,000,0001,037,000,000989,000,000
Net periodic benefit income excluding service cost-59,000,000-102,000,000-127,000,000
Income losses from investments in equity securities-510,000,000-652,000,000-243,000,000
Gain on sale of iqos system commercialization rights0-2,700,000,0000
Earnings before income taxes9,389,000,00013,658,000,00010,928,000,000
Provision for income taxes2,442,000,0002,394,000,0002,798,000,000
Net earnings6,947,000,00011,264,000,0008,130,000,000
Diluted EPS4.126.544.57
Earnings for basic and diluted EPS6,927,000,00011,236,000,0008,113,000,000
Diluted shares1,683,000,0001,718,000,0001,777,000,000
Revenues net of excise taxes20,139,000,00020,444,000,00020,502,000,000
Dividends declared per share4.1643.84
Cash flow
Depreciation and amortization266,000,000286,000,000272,000,000
Net cash provided by used in operating activities9,290,000,0008,753,000,0009,287,000,000
Capital expenditures-216,000,000-142,000,000-196,000,000
Net cash provided by used in investing activities-341,000,0002,175,000,000-1,283,000,000
Long term debt issued1,992,000,0000998,000,000
Long term debt repaid-1,607,000,000-1,121,000,000-1,566,000,000
Repurchases of common stock-1,000,000,000-3,400,000,000-1,000,000,000
Dividends paid on common stock-6,960,000,000-6,845,000,000-6,779,000,000
Net cash provided by used in financing activities-7,615,000,000-11,491,000,000-8,374,000,000
Free cash flow9,074,000,0008,611,000,0009,091,000,000
Balance sheet
Cash and cash equivalents4,474,000,0003,127,000,000
Total current assets5,932,000,0004,513,000,000
Goodwill5,787,000,0006,945,000,000
Other intangible assets net11,876,000,00012,973,000,000
Investments in equity securities8,617,000,0008,195,000,000
Total assets35,017,000,00035,177,000,000
Current portion of long term debt1,569,000,0001,527,000,000
Total current liabilities9,154,000,0008,781,000,000
Long term debt24,140,000,00023,399,000,000
Total liabilities38,469,000,00037,365,000,000
Total stockholders equity attributable to altria-3,502,000,000-2,238,000,000
Noncontrolling interest50,000,00050,000,000
Total stockholders equity-3,452,000,000-2,188,000,000
Total debt25,709,000,00024,926,000,000
Shares outstanding at period end1,674,318,2971,690,651,867
Segment results
Net revenues
Smokeable products20,485,000,00021,204,000,00021,756,000,000
Oral tobacco products2,802,000,0002,776,000,0002,667,000,000
E vapor products-13,000,00040,000,00062,000,000
All other5,000,000-2,000,000-2,000,000
Operating companies income
Smokeable products10,984,000,00010,821,000,00010,670,000,000
Oral tobacco products1,828,000,0001,449,000,0001,722,000,000
E vapor products-2,297,000,000-171,000,000-16,000,000
All other-229,000,000-243,000,000-58,000,000
Amortization of intangibles-132,000,000-139,000,000-128,000,000
General corporate expenses-255,000,000-476,000,000-643,000,000

MO quarterly income statement, balance sheet and cash flow

Q2 2026Q2 2025
LabelQ2 2026Q2 2025
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Period typethree monthsthree months
Source accession0000764180-26-0000940000764180-26-000094
Income statement
Net revenues6,111,000,0006,102,000,000
Cost of sales1,536,000,0001,440,000,000
Excise taxes on products755,000,000812,000,000
Gross profit3,820,000,0003,850,000,000
Marketing administration and research costs663,000,000619,000,000
Asset impairment and exit costs21,000,0001,000,000
Impairment of goodwill00
Operating income3,136,000,0003,230,000,000
Interest and other debt expense net295,000,000275,000,000
Net periodic benefit income excluding service cost-1,000,000-15,000,000
Income losses from investments in equity securities-87,000,000-148,000,000
Earnings before income taxes2,929,000,0003,118,000,000
Provision for income taxes631,000,000740,000,000
Net earnings2,298,000,0002,378,000,000
Diluted EPS1.371.41
Earnings for basic and diluted EPS2,292,000,0002,371,000,000
Diluted shares1,670,000,0001,684,000,000
Revenues net of excise taxes5,356,000,0005,290,000,000
Dividends declared per share1.061.02
Balance sheet
Cash and cash equivalents2,367,000,000
Total current assets4,022,000,000
Goodwill5,787,000,000
Other intangible assets net11,850,000,000
Investments in equity securities8,896,000,000
Total assets33,374,000,000
Current portion of long term debt1,684,000,000
Total current liabilities7,770,000,000
Long term debt22,893,000,000
Total liabilities35,992,000,000
Total stockholders equity attributable to altria-2,668,000,000
Noncontrolling interest50,000,000
Total stockholders equity-2,618,000,000
Total debt24,577,000,000
Shares outstanding at period end1,669,743,926
Segment results
Net revenues
Smokeable products5,392,000,0005,357,000,000
Oral tobacco products713,000,000753,000,000
All other6,000,000-8,000,000
Operating companies income
Smokeable products2,942,000,0002,930,000,000
Oral tobacco products381,000,000498,000,000
All other-77,000,000-108,000,000
Amortization of intangibles-23,000,000-37,000,000
General corporate expenses-87,000,000-53,000,000

MO year-to-date income statement and cash flow

Six months ended June 30, 2026
LabelSix months ended June 30, 2026
Period start2026-01-01
Period end2026-06-30
Period typesix months
Source accession0000764180-26-000094
Income statement
Net revenues11,539,000,000
Excise taxes on products1,425,000,000
Revenues net of excise taxes10,114,000,000
Cost of sales2,788,000,000
Gross profit7,326,000,000
Marketing administration and research costs1,213,000,000
Asset impairment and exit costs21,000,000
Impairment of goodwill0
Operating income6,092,000,000
Interest and other debt expense net553,000,000
Net periodic benefit income excluding service cost-4,000,000
Income losses from investments in equity securities-245,000,000
Earnings before income taxes5,788,000,000
Provision for income taxes1,307,000,000
Net earnings4,481,000,000
Earnings for basic and diluted EPS4,470,000,000
Diluted EPS2.67
Diluted shares1,672,000,000
Dividends declared per share2.12
Cash flow
Depreciation and amortization112,000,000
Net cash provided by used in operating activities3,043,000,000
Capital expenditures-150,000,000
Free cash flow2,893,000,000
Net cash provided by used in investing activities-166,000,000
Net cash provided by used in financing activities-4,988,000,000
Long term debt issued0
Long term debt repaid-1,069,000,000
Repurchases of common stock-335,000,000
Dividends paid on common stock-3,556,000,000
Segment results
Net revenues
Smokeable products10,150,000,000
Oral tobacco products1,382,000,000
All other7,000,000
Operating companies income
Smokeable products5,615,000,000
Oral tobacco products816,000,000
All other-153,000,000
Amortization of intangibles-46,000,000
General corporate expenses-140,000,000

MO trailing twelve month income statement and cash flow

Trailing twelve months ended June 30, 2026
LabelTrailing twelve months ended June 30, 2026
Period start2025-07-01
Period end2026-06-30
Period typetrailing twelve months
Source accession0000764180-26-000017; 0000764180-26-000094
Income statement
Net revenues23,457,000,000
Excise taxes on products3,013,000,000
Revenues net of excise taxes20,444,000,000
Cost of sales5,675,000,000
Gross profit14,769,000,000
Marketing administration and research costs2,513,000,000
Asset impairment and exit costs998,000,000
Impairment of goodwill285,000,000
Operating income10,973,000,000
Interest and other debt expense net1,095,000,000
Net periodic benefit income excluding service cost-34,000,000
Income losses from investments in equity securities-464,000,000
Earnings before income taxes10,376,000,000
Provision for income taxes2,403,000,000
Net earnings7,973,000,000
Earnings for basic and diluted EPS7,952,000,000
Diluted EPS4.75
Diluted shares1,668,000,000
Dividends declared per share4.24
Cash flow
Depreciation and amortization236,000,000
Net cash provided by used in operating activities9,408,000,000
Capital expenditures-296,000,000
Free cash flow9,112,000,000
Net cash provided by used in investing activities-428,000,000
Net cash provided by used in financing activities-7,910,000,000
Long term debt issued995,000,000
Long term debt repaid-1,069,000,000
Repurchases of common stock-735,000,000
Dividends paid on common stock-7,062,000,000
DerivationDerived by adding the six months ended June 30, 2026 to the year ended December 31, 2025 and subtracting the six months ended June 30, 2025.

Adjustments

Value
Splits appliednone
ADR ration/a
FXNone. Altria reports in U.S. dollars and no translation was required.

Prior year to date

Six months ended June 30, 2025
LabelSix months ended June 30, 2025
Period start2025-01-01
Period end2025-06-30
Period typesix months
Source accession0000764180-26-000094
Income statement
Net revenues11,361,000,000
Excise taxes on products1,552,000,000
Revenues net of excise taxes9,809,000,000
Cost of sales2,710,000,000
Gross profit7,099,000,000
Marketing administration and research costs1,207,000,000
Asset impairment and exit costs1,000,000
Impairment of goodwill873,000,000
Operating income5,018,000,000
Interest and other debt expense net537,000,000
Net periodic benefit income excluding service cost-29,000,000
Income losses from investments in equity securities-291,000,000
Earnings before income taxes4,801,000,000
Provision for income taxes1,346,000,000
Net earnings3,455,000,000
Earnings for basic and diluted EPS3,445,000,000
Diluted EPS2.04
Diluted shares1,687,000,000
Dividends declared per share2.04
Cash flow
Depreciation and amortization142,000,000
Net cash provided by used in operating activities2,925,000,000
Capital expenditures-70,000,000
Free cash flow2,855,000,000
Net cash provided by used in investing activities-79,000,000
Net cash provided by used in financing activities-4,693,000,000
Long term debt issued997,000,000
Long term debt repaid-1,607,000,000
Repurchases of common stock-600,000,000
Dividends paid on common stock-3,454,000,000
Segment results
Net revenues
Smokeable products9,979,000,000
Oral tobacco products1,407,000,000
All other-25,000,000
Operating companies income
Smokeable products5,399,000,000
Oral tobacco products931,000,000
All other-1,122,000,000
Amortization of intangibles-74,000,000
General corporate expenses-116,000,000

Notes

  • Two filings are the source of everything here: Altria's annual report on Form 10-K for the year ended December 31, 2025 (accession 0000764180-26-000017) and its quarterly report on Form 10-Q for the quarter ended June 30, 2026 (accession 0000764180-26-000094). The 10-K's statements of earnings and cash flows print three years (2025, 2024 and 2023) and its balance sheets print two (December 31, 2025 and 2024); the 10-Q prints the second quarter and first half of 2026 against the same periods of 2025, a balance sheet at June 30, 2026, and cash flows for the six months only. Those are exactly the periods carried here.
  • Altria's statement of earnings deducts two lines from net revenues before gross profit: cost of sales and excise taxes on products. Net revenues are therefore stated gross of excise taxes. The line 'revenues net of excise taxes' is not printed on the face of the statement; it is net revenues less excise taxes on products, and it is the revenue base Altria discusses in its own management commentary.
  • Gross profit is net revenues less excise taxes on products less cost of sales; the deduction runs through three lines rather than the usual two.
  • The line named 'asset_impairment_and_exit_costs' is the same position on the statement in both filings: the 10-K prints it as 'Asset impairment and exit costs' and the 10-Q prints it as 'Exit costs'. One name is used here so the periods line up.
  • Total stockholders' equity is negative in every period shown. Altria's balance sheet reports a stockholders' equity deficit because the accumulated cost of repurchased stock (-$43.5 billion at June 30, 2026) exceeds earnings reinvested in the business. The figure stored as 'total_stockholders_equity' is the total including the $50 million noncontrolling interest, which is what the balance sheet balances against.
  • Earnings per share: Altria reports a single 'basic and diluted' figure, so basic and diluted EPS are identical. Under the two-class method the EPS numerator is earnings after removing the portion attributable to unvested share-based awards, which is slightly less than net earnings; both figures are carried, as 'earnings_for_basic_and_diluted_eps' and 'net_earnings'. Weighted-average shares come from the earnings per share note in each filing (Note 12 in the 10-K, Note 7 in the 10-Q).
  • Dividends declared per share are taken from the captions on the statements of stockholders' equity (deficit): $4.16, $4.00 and $3.84 for 2025, 2024 and 2023, and $1.06 and $1.02 for the second quarters of 2026 and 2025. Dividends paid on common stock in the cash flow block are the cash amounts, which differ from declared amounts because the fourth-quarter dividend is paid in January.
  • Shares outstanding at each period end are issued shares (2,805,961,317 in every period) less the shares carried at cost of repurchased stock, as disclosed on the balance sheet. The June 30, 2026 figure of 1,669,743,926 is the same count Altria prints on the 10-Q cover page.
  • Segment figures use Altria's own measure of segment profitability, operating companies income, which is operating income before general corporate expenses and amortization of intangibles. The reportable segments changed between the two filings: in the FY2025 10-K, e-vapor products met the quantitative threshold for separate presentation (because of the 2025 non-cash impairments) and Altria recast prior years to show it, so the annual segment tables here carry four lines. In the first quarter of 2026 Altria concluded e-vapor was no longer of continuing significance, removed it as a reportable segment, and folded it back into the all other category for all periods presented, so the quarterly and six-month segment tables here carry three. Annual and quarterly segment lines are consequently not directly comparable for e-vapor and all other; smokeable products and oral tobacco products are unaffected.
  • The quarterly entries carry no cash flow figures. The 10-Q presents cash flows only for the six months ended June 30, 2026 and 2025, and Altria's first-quarter 2026 earnings release contains no cash flow statement, so there is no published three-month operating cash flow or capital expenditure figure to report. The six-month cash flows appear in 'year_to_date' and 'prior_year_to_date'.
  • The trailing-twelve-months block covers July 1, 2025 through June 30, 2026 and is derived, not filed: the year ended December 31, 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025, applied line by line to the income statement and the cash flow statement. Its diluted EPS ($4.75) and weighted-average share count (1,668 million) are derived the same way and are approximations of a true twelve-month weighted average.
  • Free cash flow is operating cash flow less capital expenditures, with capital expenditures carried with the negative sign the cash flow statement prints.
  • Total debt is the current portion of long-term debt plus long-term debt. Altria had no short-term borrowings outstanding at any of these period ends; the 10-K states that all long-term debt outstanding at December 31, 2025 and 2024 was fixed-rate, at a weighted-average coupon of approximately 4.5% and 4.3% respectively.

Uncertainties

  • No three-month cash flow statement exists for either quarter shown. Quarterly operating cash flow, capital expenditures and free cash flow are therefore absent rather than estimated.
  • No balance sheet is published here for the quarter ended June 30, 2025. The 10-Q's balance sheet columns are June 30, 2026 and December 31, 2025 only. The statement of stockholders' equity does show total stockholders' equity (deficit) of -$3,206 million at June 30, 2025, but a single line is not a balance sheet and it is not carried as one.
  • No balance sheet is published here for fiscal 2023. The FY2025 10-K's balance sheets cover December 31, 2025 and 2024 only.
  • Trailing-twelve-months diluted EPS and the trailing-twelve-months weighted-average share count are arithmetic combinations of reported periods, not reported figures. Because weighted-average share counts cannot be added and subtracted exactly, treat both as approximate; trailing net earnings divided by the derived share count gives $4.78 against the $4.75 obtained by combining the reported per-share amounts.
  • Altria's investments in equity securities are accounted for under the equity method, and the 10-K states that the audited financial statements of Anheuser-Busch InBev for the year ended December 31, 2025 will be filed by amendment within six months under Regulation S-X Rule 3-09. The equity-investment amounts carried here are as reported in the 10-K itself.
  • The segment presentation changed between the two filings (e-vapor products was a reportable segment in the FY2025 10-K and is back inside 'all other' in the Q2 2026 10-Q). The annual and quarterly segment tables here each follow the filing they came from and have not been conformed to one another.

Company details

Value
NameAltria Group, Inc.
TickerMO
CIK0000764180
ExchangeNYSE
StateVirginia
IncorporationVirginia
SIC2111
OfficeManufacturing
IndustryCigarettes

Fiscal period

FY2026
Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0000764180-26-000094
Fiscal year end1231
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionUrlSource
annualno10-K2025FYFY252025-12-312026-02-250000764180-26-000017https://www.sec.gov/Archives/edgar/data/764180/000076418026000017/0000764180-26-000017-index.htmreported
quarterlyyes10-Q2026Q2FY26Q22026-06-302026-07-300000764180-26-000094https://www.sec.gov/Archives/edgar/data/764180/000076418026000094/0000764180-26-000094-index.htmfacts

FAQ · Altria financial statements

How much revenue did Altria report in Q2 FY2026?

Altria Group reported $6.11 billion in net revenues for Q2 FY2026, the quarter ended June 30, 2026, up 0.1% from $6.10 billion a year earlier. Excluding excise taxes billed to customers, revenue was $5.36 billion, up 1.2%.

What were Altria's earnings per share in Q2 FY2026?

Altria Group reported diluted earnings per share of $1.37 for Q2 FY2026, down 2.8% from $1.41 in the same quarter a year earlier, on net earnings of $2.30 billion. The reported decline is after a charge taken in the quarter for the planned consolidation of U.S. Smokeless Tobacco Company manufacturing; excluding that charge and other special items, Altria's adjusted diluted earnings per share rose.

Why did Altria's earnings fall in Q2 FY2026?

Altria Group's net earnings were $2.30 billion in Q2 FY2026, down 3.4% from $2.38 billion a year earlier, even though net revenues were up 0.1%. Operating income declined, reflecting charges for the planned consolidation of U.S. Smokeless Tobacco Company manufacturing to Hopkinsville, Kentucky, lower oral tobacco results and higher general corporate expenses, but that was only part of the fall in pre-tax earnings: lower income from investments in equity securities, lower net periodic benefit income and higher interest and other debt expense made up most of the rest; a lower income tax provision cushioned the fall in net earnings. Excluding the consolidation charge and other special items, Altria's adjusted net earnings rose.

How much of Altria's revenue comes from cigarettes?

Altria Group's smokeable products segment, which sells Marlboro and other cigarettes along with Black & Mild cigars, generated $5.39 billion of the company's $6.11 billion in net revenues in Q2 FY2026, up 0.7% from a year earlier on higher pricing against lower shipment volume.

What is Altria's quarterly dividend per share?

Altria Group declared a dividend of $1.06 per share in Q2 FY2026, the quarter ended June 30, 2026, up 3.9% from $1.02 a year earlier.

Where can I get Altria Group, Inc. (MO) financial data in machine-readable form?

Ticker Scout publishes Altria Group, Inc.'s financial statements as JSON at https://tickerscout.ai/mo/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/mo/narrative.md and https://tickerscout.ai/mo/events.md. Altria Group, Inc.'s SEC CIK is 0000764180. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Altria Group, Inc. (MO) next file with the SEC?

Altria Group, Inc. (MO) is expected to file its next Form 10-Q with the SEC on or around October 29, 2026. That date is a projection rather than a company-announced date: it is derived from Altria Group, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000764180-26-000094.

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How this page was built

This page was built from two of Altria Group, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names six such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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