MO · 10-Q · 2026Q3 · Full report

Operating Cash Flow Trends

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

Net cash provided by operating activities increased to $6.151 billion in the first nine months of 2026 from $6.019 billion in the comparable 2025 period. The increase primarily reflected lower State Settlement Agreement and excise-tax payments and higher smokeable-products net revenues, partly offset by higher income-tax payments. Net cash used in investing activities rose to $275 million from $139 million, primarily because of investments in manufacturing capabilities and innovative products. Net cash used in financing activities increased to $7.657 billion from $5.542 billion, primarily reflecting 2025 long-term debt issuances and higher common-stock dividends in 2026.

Key facts

• Altria used $7,657 million of cash in financing activities in the first nine months of 2026, compared with $5,542 million in the first nine months of 2025. source
• Altria used $275 million of cash in investing activities in the first nine months of 2026, compared with $139 million in the prior-year period, primarily reflecting investments in manufacturing capabilities and innovative products. source
• Altria generated $6,151 million of operating cash flow in the first nine months of 2026, compared with $6,019 million in the first nine months of 2025. source
• The increase in Altria's first-nine-month 2026 operating cash flow was primarily due to lower State Settlement Agreement and excise tax payments and higher smokeable segment net revenues, partly offset by higher income tax payments. source
• The increase in Altria's financing cash use was primarily due to long-term debt issuances in 2025 and higher common-stock dividends paid. source

Impact estimates