Altria Group Earnings Call Transcripts
Fiscal Year 2026
-
The meeting saw strong shareholder support for all proposals, leadership transitions, and a focus on smoke-free initiatives. Key topics included youth prevention, environmental responsibility, and regulatory challenges, with continued commitment to dividends and innovation.
-
Adjusted EPS grew 7.3% in Q1, driven by strong smokable and oral tobacco performance, with Marlboro gaining premium share and ON! expanding nationally. Guidance for 2026 EPS is reaffirmed, reflecting balanced growth and macroeconomic uncertainty.
-
Leadership is transitioning as the company accelerates its move toward a smoke-free future, driven by innovation in oral tobacco, heated tobacco, and e-vapor, while maintaining strong financial performance and shareholder returns. Expansion into international and non-nicotine markets is underway.
Fiscal Year 2025
-
Adjusted diluted EPS grew 4.4% in 2025, with $8B returned to shareholders and strong smoke-free portfolio progress. 2026 EPS guidance is $5.56–$5.72, with growth weighted to the second half and continued investment in import/export and smoke-free products.
-
Q3 saw adjusted EPS up 3.6% and strong progress in smoke-free and adjacent growth, with on! PLUS launched and regulatory filings for heated tobacco. Dividend was raised, share repurchase expanded, and guidance for 2025 EPS was increased, despite ongoing regulatory and market challenges.
-
Second quarter and first half results showed strong adjusted EPS and OCI growth, led by ON's performance and robust shareholder returns. Guidance for 2025 EPS was raised, with continued focus on smoke-free products, regulatory advocacy, and disciplined capital allocation.
-
The meeting covered director elections, auditor ratification, and approval of executive and director compensation plans, all passing with strong shareholder support. Strategic focus remains on transitioning to smoke-free products, responsible marketing, and maintaining a progressive dividend policy.
-
Adjusted OCI and margins grew in smokable and oral tobacco segments despite volume declines and economic pressures. Guidance for 2025 EPS is $5.30–$5.45, with continued focus on regulatory advocacy, innovation, and shareholder returns.
-
Focused on leading the transition to a smoke-free future, the company is investing in innovative nicotine and non-nicotine products, expanding internationally, and advocating for regulatory reform. Strong financial performance and shareholder returns continue, despite challenges from illicit markets and ongoing litigation.
Fiscal Year 2024
-
Delivered strong 2024 results with 3.4% adjusted EPS growth and $10.2B returned to shareholders. Smoke-free products gained share, but illicit e-vapor growth and regulatory challenges led to a reassessment of smoke-free targets. 2025 EPS guidance set at 2–5% growth.
-
Third quarter saw strong adjusted EPS growth, robust performance from Marlboro and ON!, and continued shareholder returns. Guidance for 2024 was reaffirmed, with cost-saving initiatives underway and regulatory and litigation risks noted.
-
Momentum in smoke-free products drove share gains for NJOY and on!, while traditional tobacco volumes declined amid illicit market pressures and macroeconomic headwinds. Adjusted EPS guidance was narrowed, with second-half growth expected from operational tailwinds and cost benefits.