Q2 2026 Altria Group Inc Earnings Call Transcript

Jul 30, 2026 / 01:00 PM GMT

Transcript 8-K

Key Points

Positve

Altria Group Inc (MO) delivered strong first half results with adjusted diluted EPS growth of 4.9% and returned nearly $3.9 billion to shareholders through dividends and share repurchases.
The On+ nicotine pouch product expanded to 120,000 stores nationwide, driving sequential retail share gains of 0.8 points and showing encouraging repeat purchase rates.
Smokable products segment adjusted OCI grew 2.4% in Q2 and 4.2% in the first half, with margins expanding to 64.8% and 64.9% respectively.
Domestic cigarette volume declines moderated for the fourth consecutive quarter, driven by reduced cross-category movement to illicit e-vapor products.
The FDA updated enforcement priorities for e-vapor and nicotine pouch products, providing greater regulatory clarity and supporting Altria's smoke-free product pipeline.

Negative

The nicotine pouch category saw intensified competition, with competitors bringing new products and flavors to market, pressuring On's shipment volumes.
Oral tobacco products segment adjusted OCI decreased 8% in Q2 and 4.2% in the first half due to strategic investments behind On+ and difficult prior year comparisons.
Persistent economic pressures on consumers, including elevated gas prices and inflation, drove a 2.6 share point increase in the discount cigarette segment.
Marlboro's overall retail share declined 1.5 share points year-over-year due to trade-down dynamics among value-sensitive smokers.
The duty drawback benefit from cigarette exports did not increase sequentially in Q2 due to timing factors, creating uncertainty in second-half financial phasing.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MO.N - Altria Group Inc
Q2 2026 Altria Group Inc Earnings Call
Jul 30, 2026 / 01:00PM GMT

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Presentation
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Operator [1]
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Good day and welcome to the Altria Group 2026 second quarter earnings conference call. Today's call is scheduled to last about one hour including remarks by Altria's management and a question-and-answer session. Representatives of the investment community and media on the call will be able to ask questions following the conclusion of the prepared remarks.

I would now like to turn the call over to Mac Livingston, Vice President of Investor Relations. Please go ahead sir.

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Unidentified_2 [2]
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Thanks, Olivia. Good morning and thank you for joining us. This morning,

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