MO · 10-Q · 2026Q2

ALTRIA GROUP, INC.

Filed 2026-07-30 · Consumer · View original filing on EDGAR

Ranked Events

• Capital Expenditure OutlookImportance 73 · Surprise 66
  Altria raised its 2026 capital expenditure forecast to $375 million–$450 million from the prior range of $300 million–$375 million. The increase is primarily driven by investments supporting the USSTC Facilities…
• Capital Allocation and CapexImportance 73 · Surprise 50
  Altria paid $3,556 million of dividends in the first six months of 2026, up 3.0% from $3,454 million in the prior-year period, and its annualized dividend rate was $4.24 per share. Management targets mid-single-digit…
• Settlement and FDA PaymentsImportance 56 · Surprise 24
  PM USA’s State Settlement Agreements with U.S. states, the District of Columbia and certain U.S. territories, together with quarterly FDA user fees imposed on PM USA, Middleton and USSTC under the Family Smoking…
• Liquidity and Debt PositionImportance 54 · Surprise 14
  Altria held $2.4 billion of cash and cash equivalents at June 30, 2026 and had access to a $3.0 billion senior unsecured five-year revolving credit agreement. Total long-term debt declined to $24.6 billion from $25.7…
• E-Vapor Goodwill Impairment RiskImportance 53 · Surprise 60
  In 2025, Altria recorded impairments that reduced e-vapor reporting unit goodwill to an estimated fair value and carrying value of $610 million at December 31, 2025. The impairments followed the ITC exclusion order and…
• Oral Tobacco Margin DriversImportance 50 · Surprise 58
  Reported oral tobacco operating company income decreased $115 million, or 12.4%, in the first six months of 2026, primarily because of $78 million in USSTC Facilities Consolidation costs, $87 million from lower…
• Pricing and PromotionsImportance 49 · Surprise 32
  Smokeable Products net revenues increased 1.7% in the first six months of 2026 and 0.7% in the second quarter, primarily due to higher pricing of $639 million and $309 million, respectively. Pricing benefits included…
• Operating Income and MarginsImportance 49 · Surprise 32
  Smokeable Products reported OCI increased $216 million, or 4.0%, to $5.615 billion for the six months ended June 30, 2026, while adjusted OCI increased $229 million, or 4.2%, to $5.694 billion. Six-month adjusted OCI…
• Revenue Performance and MixImportance 49 · Surprise 32
  Smokeable Products net revenues increased $171 million, or 1.7%, to $10.150 billion for the six months ended June 30, 2026, and increased $35 million, or 0.7%, to $5.392 billion for the three months ended June 30,…
• Litigation and Legal RiskImportance 47 · Surprise 60
  NJOY ACE is subject to U.S. ITC exclusion and cease-and-desist orders prohibiting its importation and sale, while JUUL has asserted patent infringement claims based on NJOY Daily sales in the United States. Altria also…
• Graphic Warning Label LitigationImportance 44 · Surprise 60
  The FDA’s March 2020 final rule requires 11 textual cigarette warnings accompanied by color graphics depicting negative health consequences of smoking. In January 2025, the U.S. District Court for the Eastern District…
• FDA Nicotine Product RegulationImportance 44 · Surprise 60
  In May 2026, the FDA issued enforcement guidance for e-vapor and oral nicotine pouch products with pending PMTAs, generally indicating that it will not prioritize enforcement while applications undergo scientific…
• USSTC Facilities ConsolidationImportance 40 · Surprise 42
  Altria recorded $78 million of pre-tax exit and implementation costs in the first six months and second quarter of 2026 for the USSTC Facilities Consolidation. The plan will transition USSTC manufacturing operations…
• Operating Cash Flow TrendsImportance 39 · Surprise 32
  Net cash provided by operating activities increased to $3,043 million in the first six months of 2026 from $2,925 million in the first six months of 2025. The $118 million increase was driven primarily by lower State…
• State Tobacco RestrictionsImportance 37 · Surprise 42
  Multiple U.S. states and localities are considering or have enacted restrictions on tobacco products, including flavor bans, e-vapor certification requirements and nicotine caps. As of July 27, 2026, California,…
• FDA Tobacco Product StandardsImportance 37 · Surprise 42
  The FDA proposed a January 2025 product standard that would substantially reduce nicotine levels in cigarettes, little cigars, cigarillos and most large cigars; public comments closed in September 2025 and Altria…
• Illicit E-Vapor EnforcementImportance 37 · Surprise 42
  Illicit flavored disposable e-vapor products continued to proliferate despite FDA and U.S. Customs and Border Protection actions, including import restrictions, product seizures, and warning letters. Altria said…
• Guidance / OutlookImportance 32 · Surprise 24
  Management expects cash and cash equivalents, future operating cash flows, borrowing capacity and access to credit and capital markets to provide sufficient liquidity for operations and projected cash requirements for…
• Tobacco Excise Tax PressureImportance 32 · Surprise 24
  U.S. federal, state and local tobacco excise taxes continue to rise, with the weighted-average state cigarette tax increasing from $0.36 per pack at the end of 1998 to $2.02 per pack as of July 27, 2026. Utah enacted a…
• Income Tax Rate ChangesImportance 32 · Surprise 40
  Altria recorded $30 million of income tax items for the six months ended June 30, 2026 and $42 million for the second quarter. The benefits primarily reflected resolution of prior-year tax audits, partially offset by…

Revenue by Product (in millions)