We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MO's oral tobacco revenues rose 2%, driven by pricing, though shipment volumes declined.
Altria Group Inc. (MO - Free Report) posted fourth-quarter 2025 results, wherein the top line beat the Zacks Consensus Estimate and declined year over year. The bottom line missed the same and remained flat compared with the prior year.
Altria delivered strong momentum in 2025, driven by earnings growth, advances in its smoke-free portfolio, and strategic initiatives supporting long-term growth.
Altria’s fourth-quarter adjusted earnings were $1.30 per share, which remained flat compared with the year-ago reported figure and missed the Zacks Consensus Estimate of $1.31. This was driven by a lower adjusted tax rate and reduced share count, which were offset by lower adjusted operating companies' income (“OCI”).
Altria Group, Inc. Price, Consensus and EPS Surprise
The company posted net revenues of $5,846 million, which declined 2.1% year over year. This was due to a decrease in net revenues in the smokeable products segment. Revenues, net of excise taxes, decreased 0.5% to $5,079 million. The top line beat the consensus mark, which was pegged at $5,002 million.
Decoding Altria’s Segment-Wise Results
Smokeable Products: Net revenues in the category fell 2.7% year over year to $5,119 million due to reduced shipment volume and elevated promotional investments. These were somewhat offset by higher pricing. Revenues, net of excise taxes, fell 1.1%.
Domestic cigarette shipment volumes tumbled 7.9% due to the industry’s decline rate and trade inventory movements. The industry’s decline was a result of the continued growth of flavored disposable e-vapor products and persistent discretionary income pressures on Adult Nicotine Consumers. Altria’s reported cigar shipment volumes increased 4.2%.
Adjusted OCI in the segment decreased 2.4% to $2,643 million due to reduced shipment volume, elevated promotional investments, higher per unit settlement charges and higher costs. This was offset by improved pricing. The adjusted OCI margins fell 0.8 percentage points to 60.4%.
Oral Tobacco Products: Net revenues of the segment increased 2% to $706 million. The upside was driven by increased pricing, which was partially offset by the reduced shipment volume and the increased percentage of on! shipment volume compared with the MST year over year (mix change). Revenues, excluding excise taxes, increased 2.9%.
Domestic shipment volumes fell 6.3%, due to retail share losses and trade inventory movements. This was partly negated by the industry’s growth rate, calendar timing differences and other factors. Excluding the impact of trade inventory movements and calendar differences, shipment volumes were estimated to decrease approximately 6%.
Adjusted OCI in the segment decreased 4.6%, due to elevated SG&A costs, decline in shipment volumes and a change in mix, partially offset by increased pricing. The adjusted OCI margin decreased 5 percentage points to 64.5%.
Altria Stock: Other Updates
This Zacks Rank #3 (Hold) company ended the quarter with cash and cash equivalents of $4,474 million, long-term debt of $24,140 million and a total stockholders’ deficit of $3,502 million.
In the fourth quarter of 2025, the company bought back 4.8 million shares, totaling $288 million. For the full year, the company repurchased 17.1 million shares for a total cost of $1 billion. As of Dec. 31, 2025, $1 billion remained available under the $2 billion share repurchase program, which expires on Dec. 31, 2026.
Altria paid dividends worth $1.8 billion in the fourth quarter.
What to Expect From MO in 2026
The company expects 2026 adjusted earnings per share (EPS) in the range of $5.56 to $5.72, indicating year-over-year growth of 2.5% to 5.5% from a base of $5.42 in 2025. Adjusted EPS growth is expected to be weighted toward the second half of the year, indicating a progressive increase in cigarette import and export activity over the course of the year.
Altria expects a 2026 adjusted effective tax rate of 22.5% to 23.5%, capital expenditures of $300-$375 million and depreciation and amortization expenses of approximately $225 million.
Shares of MO have gained 1.9% in the past three months compared with the industry’s 16.2% growth.
Image Source: Zacks Investment Research
Stocks to Consider
United Natural Foods, Inc. (UNFI - Free Report) distributes natural, organic, specialty, produce and conventional grocery and non-food products in the United States and Canada. At present, United Natural flaunts a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for United Natural’s current fiscal-year sales and earnings implies growth of 1.4% and 197.2%, respectively, from the year-ago figures. UNFI delivered a trailing four-quarter earnings surprise of 52.1%, on average.
Mama's Creations, Inc. (MAMA - Free Report) manufactures and markets fresh deli-prepared foods in the United States. At present, MAMA sports a Zacks Rank of 1. Mama's Creations delivered a trailing four-quarter earnings surprise of 133.3%, on average.
The consensus estimate for Mama's Creations’ current fiscal-year sales and earnings implies growth of 39.9% and 44.4%, respectively, from the year-ago figures.
The Hershey Company (HSY - Free Report) engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. It holds a Zacks Rank #2 (Buy) at present. HSY delivered a trailing four-quarter earnings surprise of 15%, on average.
The Zacks Consensus Estimate for Hershey’s current fiscal-year sales implies growth of 3.5%, from the year-ago figures.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Altria's Q4 Earnings Lag Estimates, Cigarette Volumes Drop
Key Takeaways
Altria Group Inc. (MO - Free Report) posted fourth-quarter 2025 results, wherein the top line beat the Zacks Consensus Estimate and declined year over year. The bottom line missed the same and remained flat compared with the prior year.
Altria delivered strong momentum in 2025, driven by earnings growth, advances in its smoke-free portfolio, and strategic initiatives supporting long-term growth.
Altria’s fourth-quarter adjusted earnings were $1.30 per share, which remained flat compared with the year-ago reported figure and missed the Zacks Consensus Estimate of $1.31. This was driven by a lower adjusted tax rate and reduced share count, which were offset by lower adjusted operating companies' income (“OCI”).
Altria Group, Inc. Price, Consensus and EPS Surprise
Altria Group, Inc. price-consensus-eps-surprise-chart | Altria Group, Inc. Quote
The company posted net revenues of $5,846 million, which declined 2.1% year over year. This was due to a decrease in net revenues in the smokeable products segment. Revenues, net of excise taxes, decreased 0.5% to $5,079 million. The top line beat the consensus mark, which was pegged at $5,002 million.
Decoding Altria’s Segment-Wise Results
Smokeable Products: Net revenues in the category fell 2.7% year over year to $5,119 million due to reduced shipment volume and elevated promotional investments. These were somewhat offset by higher pricing. Revenues, net of excise taxes, fell 1.1%.
Domestic cigarette shipment volumes tumbled 7.9% due to the industry’s decline rate and trade inventory movements. The industry’s decline was a result of the continued growth of flavored disposable e-vapor products and persistent discretionary income pressures on Adult Nicotine Consumers. Altria’s reported cigar shipment volumes increased 4.2%.
Adjusted OCI in the segment decreased 2.4% to $2,643 million due to reduced shipment volume, elevated promotional investments, higher per unit settlement charges and higher costs. This was offset by improved pricing. The adjusted OCI margins fell 0.8 percentage points to 60.4%.
Oral Tobacco Products: Net revenues of the segment increased 2% to $706 million. The upside was driven by increased pricing, which was partially offset by the reduced shipment volume and the increased percentage of on! shipment volume compared with the MST year over year (mix change). Revenues, excluding excise taxes, increased 2.9%.
Domestic shipment volumes fell 6.3%, due to retail share losses and trade inventory movements. This was partly negated by the industry’s growth rate, calendar timing differences and other factors. Excluding the impact of trade inventory movements and calendar differences, shipment volumes were estimated to decrease approximately 6%.
Adjusted OCI in the segment decreased 4.6%, due to elevated SG&A costs, decline in shipment volumes and a change in mix, partially offset by increased pricing. The adjusted OCI margin decreased 5 percentage points to 64.5%.
Altria Stock: Other Updates
This Zacks Rank #3 (Hold) company ended the quarter with cash and cash equivalents of $4,474 million, long-term debt of $24,140 million and a total stockholders’ deficit of $3,502 million.
In the fourth quarter of 2025, the company bought back 4.8 million shares, totaling $288 million. For the full year, the company repurchased 17.1 million shares for a total cost of $1 billion. As of Dec. 31, 2025, $1 billion remained available under the $2 billion share repurchase program, which expires on Dec. 31, 2026.
Altria paid dividends worth $1.8 billion in the fourth quarter.
What to Expect From MO in 2026
The company expects 2026 adjusted earnings per share (EPS) in the range of $5.56 to $5.72, indicating year-over-year growth of 2.5% to 5.5% from a base of $5.42 in 2025. Adjusted EPS growth is expected to be weighted toward the second half of the year, indicating a progressive increase in cigarette import and export activity over the course of the year.
Altria expects a 2026 adjusted effective tax rate of 22.5% to 23.5%, capital expenditures of $300-$375 million and depreciation and amortization expenses of approximately $225 million.
Shares of MO have gained 1.9% in the past three months compared with the industry’s 16.2% growth.
Image Source: Zacks Investment Research
Stocks to Consider
United Natural Foods, Inc. (UNFI - Free Report) distributes natural, organic, specialty, produce and conventional grocery and non-food products in the United States and Canada. At present, United Natural flaunts a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for United Natural’s current fiscal-year sales and earnings implies growth of 1.4% and 197.2%, respectively, from the year-ago figures. UNFI delivered a trailing four-quarter earnings surprise of 52.1%, on average.
Mama's Creations, Inc. (MAMA - Free Report) manufactures and markets fresh deli-prepared foods in the United States. At present, MAMA sports a Zacks Rank of 1. Mama's Creations delivered a trailing four-quarter earnings surprise of 133.3%, on average.
The consensus estimate for Mama's Creations’ current fiscal-year sales and earnings implies growth of 39.9% and 44.4%, respectively, from the year-ago figures.
The Hershey Company (HSY - Free Report) engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. It holds a Zacks Rank #2 (Buy) at present. HSY delivered a trailing four-quarter earnings surprise of 15%, on average.
The Zacks Consensus Estimate for Hershey’s current fiscal-year sales implies growth of 3.5%, from the year-ago figures.