Every 10-Q that Altria Group (MO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MO filings page.
Altria Group, Inc. reported first-half 2026 results with net revenues of $11,539 million compared with $11,361 million in 2025 and net earnings of $4,481 million versus $3,455 million. Basic and diluted EPS were $2.67 versus $2.04. The effective tax rate declined to 22.6% from 28.0%, partly reflecting tax benefits from an IRS audit settlement and the absence of prior-year non-deductible e‑vapor goodwill impairments.
Operating income rose to $6,092 million; smokeable products segment OCI increased, while oral tobacco OCI decreased. Net cash from operating activities was $3,043 million. After $3,556 million of dividends and $335 million of share repurchases, cash and cash equivalents fell to $2,367 million, and total long-term debt (including current portion) was $24,577 million, with availability under a $3.0 billion revolver. The company is incurring restructuring charges for a $180 million USSTC facilities consolidation and a $175 million Optimize & Accelerate initiative, and continues to carry large equity stakes in ABI and Cronos whose fair values exceed their carrying amounts. Altria also remains obligated under state settlement agreements and involved in ongoing tobacco and e‑vapor litigation.
Altria Group, Inc. (MO) reported higher first‑quarter profitability with modest revenue growth. Net revenues for the three months ended March 31, 2026 were $5.4 billion, up from $5.3 billion a year earlier, driven mainly by smokeable and oral tobacco products.
Net earnings rose to $2.2 billion from $1.1 billion, and basic and diluted EPS increased to $1.30 from $0.63, largely reflecting the absence of the prior‑year e‑vapor goodwill impairment. Operating income increased to $3.0 billion from $1.8 billion.
Operating cash flow was $2.3 billion, supporting dividends and $280 million of share repurchases. Long‑term debt totaled $24.6 billion, and there were about 1.67 billion common shares outstanding as of April 22, 2026. The company continues to manage significant tobacco, e‑vapor, and antitrust litigation, while its equity stakes in ABI and Cronos had fair values above their carrying amounts.
Altria Group (MO) filed its Q3 2025 report, showing resilient profitability and cash generation amid portfolio shifts. For the nine months, net revenues were $17.433 billion versus $18.044 billion last year, while operating income was $8.248 billion. Net earnings were $5.830 billion and EPS was $3.45; Q3 EPS was $1.41.
Cash from operations reached $6.019 billion, supporting shareholder returns. The Board raised the quarterly dividend by 3.9% to $1.06 per share, and expanded the 2025 repurchase program to $2.0 billion through December 31, 2026. Year-to-date, the company repurchased 12.3 million shares for $712 million at an average price of $58.08.
Altria recorded a non-cash $873 million goodwill impairment in Q1 tied to the e‑vapor reporting unit following ITC orders affecting NJOY ACE. Smokeable products delivered $8.341 billion in OCI for the nine months, and oral tobacco products generated $1.390 billion. The ABI equity stake had a $9.5 billion fair value versus an $8.1 billion carrying amount as of September 30, 2025. Shares outstanding were 1,678,671,552 as of October 22, 2025.
Altria Group (MO) Q2-25 10-Q highlights
For the six months ended 6/30/25, net revenues fell 3.6% YoY to $11.36 bn while net earnings declined 41.8% to $3.46 bn (EPS $2.04 vs $3.41). The prior-year period included a $2.7 bn gain from the sale of IQOS U.S. rights. Ex-gain, operating trends were steadier: gross profit up 2.1% to $7.10 bn; operating income down 3.6% to $5.02 bn after a $873 m non-cash goodwill impairment tied to the e-vapor unit.
Segment OCI: Smokeable products rose 2.9% to $5.40 bn; oral tobacco surged 75% to $0.93 bn, offset by a $1.12 bn loss in “All Other” (e-vapor, Horizon, etc.).
Cash & leverage: Operating cash flow increased to $2.93 bn (vs $2.80 bn), but cash & equivalents dropped to $1.29 bn from $3.13 bn at 12/31/24 following $600 m of share buybacks and $1.61 bn debt repayment. Long-term debt stands at $23.65 bn; book equity remains negative at $(3.21) bn.
Capital returns: A new $1 bn repurchase program was authorized in Jan-25; $0.6 bn completed, $0.4 bn remains. Dividends declared YTD totaled $3.45 bn ($2.04 / share).
Key events: • ITC exclusion order removed NJOY ACE from U.S. market, triggering the goodwill write-down. • No new share restrictions on subsidiaries’ dividend capacity. • Contingent consideration for NJOY flavor PMT approvals increased by $25 m to $45 m.
Liquidity appears sufficient with $2.6 bn unused under an October-2028 revolving credit facility, but ongoing litigation and regulatory actions remain contingencies.