MO · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

ALTRIA GROUP, INC. · 2026-10-29 · Importance 42 · Surprise 14 · In source text

For the nine months ended September 30, 2026, Smokeable Products net revenues were $13.532 billion, up $465 million (3.6%), while reported OCI increased $327 million (3.9%) to $8.668 billion and adjusted OCI rose $345 million (4.1%) to $8.766 billion. Higher pricing contributed $929 million to nine-month net revenue, partly offset by a $729 million impact from lower shipment volume and a higher discount mix; higher manufacturing costs reduced reported OCI by $150 million. Domestic cigarette shipments fell 2.8% for the nine months, including Marlboro shipments down 7.2% and discount shipments up 69.7%; discount retail share increased 1.9 percentage points to 4.0%. For the three months ended September 30, 2026, net revenues increased 0.8% to $4.762 billion, and reported OCI increased 3.8% to $3.053 billion, with higher pricing partly offset by volume/cigarette mix and higher costs.

Key facts

• For the nine months ended September 30, 2026, smokeable-segment net revenues increased $216 million (1.4%), primarily from $929 million of higher pricing, partly offset by $729 million from lower shipment volume and a higher discount mix. source
• Altria’s net revenues increased $238 million, or 1.4%, for the nine months ended September 30, 2026, primarily due to higher net revenues in the smokeable products segment. source
• For the three months ended September 30, 2026, smokeable-segment net revenues increased $45 million (0.8%), primarily from $290 million of higher pricing, partly offset by $254 million from volume/cigarette mix. source
• Altria’s net revenues increased $60 million, or 1.0%, for the three months ended September 30, 2026, primarily due to higher net revenues in the smokeable products segment. source

Impact estimates