MO · 10-Q · 2026Q3 · Full report

Equity Investment Income

ALTRIA GROUP, INC. · 2026-10-29 · Importance 41 · Surprise 48

For the nine months ended September 30, 2026, income or losses from investments in equity securities improved by $89 million, or 22.4%, primarily because of higher income from Altria’s ABI investment. In the third quarter, investment results improved by $135 million, or more than 100%, primarily due to higher ABI investment income. The quarterly comparison also included favorable ABI-related special items, including $37 million of net pre-tax earnings driven mainly by mark-to-market gains on financial instruments associated with ABI share commitments.

Key facts

• Altria’s income from investments in equity securities was favorably higher by $135 million, or 100+%, for the three months ended September 30, 2026, primarily due to higher ABI investment income including favorable special items. source
• Altria’s income from investments in equity securities was favorably higher by $89 million, or 22.4%, for the nine months ended September 30, 2026, primarily due to higher ABI investment income. source
• For the nine months ended September 30, 2026, operations increased net earnings by $250 million, primarily due to higher OCI and higher income from Altria’s equity investment in ABI. source
• Altria’s adjusted net earnings attributable to Altria increased $103 million in the third quarter of 2026, primarily due to higher OCI and higher income from equity investments. source
• Altria recorded net pre-tax ABI-related losses of $41 million for the nine months ended September 30, 2026, primarily due to dilution from ABI share activity that reduced Altria’s ABI ownership interest. source
• Altria recorded net pre-tax earnings of $37 million from ABI-related special items for the three months ended September 30, 2026, primarily due to mark-to-market gains on ABI financial instruments associated with its share commitments. source