Altria misses Q2 profit estimates, narrows annual earnings forecast

Altria

30/07/2026 12:30

Overview
U.S. tobacco products maker's Q2 revenue was flat yr/yr, adjusted EPS missed analyst expectations
Company narrowed full-year adjusted EPS guidance and raised lower end of range
Altria repurchased $55 mln shares in Q2, continued investments in smoke-free portfolio

Outlook
Altria narrows 2026 full-year adj diluted EPS guidance to $5.61-$5.72
Company expects 2026 capital expenditures of $375 mln to $450 mln, up from prior $300 mln-$375 mln
Altria outlook reflects moderated e-vapor industry growth and increased macroeconomic uncertainty

Result Drivers
SMOKEABLE PRICING - Higher pricing and tax refunds supported smokeable products revenue and profit, offsetting lower volumes and increased promotional spending
ORAL TOBACCO WEAKNESS - Lower shipment volume and higher promotional investments drove declines in oral tobacco revenue and profit, partially offset by higher pricing
SMOKE-FREE EXPANSION - Co expanded on! PLUS to 120,000 stores and prepared additional flavor launches, aiming to grow its smoke-free portfolio

Company press release: ID:nBw64C0bxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$6.11 bln
 
Q2 Adjusted EPS
Miss
$1.48
$1.50 (11 Analysts)
Q2 EPS
 
$1.37
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 8 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the tobacco peer group is "buy."
Wall Street's median 12-month price target for Altria Group Inc is $70.00, about 6.6% below its July 29 closing price of $74.92
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
July 30 - BAT lifts annual profit growth target as Velo drives U.S. momentum
July 29 - BAT must face class-action litigation over cigarette labels, US appeals court rules
July 27 - Philip Morris doubles Colorado campus investment to $1.2 billion

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)