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Altria Group (MO) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Altria Group (MO) Q3 2026 earnings results →

Q3 2026 Revenue up 1% year over year to $6.1B · 41¢ of every $1 of revenue kept as net profit · operating margin 54.0%

Altria Group made $6.1B in Q3 2026 (+1% Y/Y): Smokeable Products Segment $5.4B, Oral Tobacco Segment $688M, All Other $12.0M. Operating margin 54.0%, net earnings $2.5B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$6.1B
Year over year+1%
Operating margin54.0%
Net earnings$2.5B
Operating cash flow$3.1B

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Altria Group Q3 2026 revenue breakdown: Sankey diagram of revenue (Smokeable Products Segment, Oral Tobacco Segment, All Other), costs, profit and cash flow
Altria Group Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $6.1B in Q3 2026, up 1% year over year and roughly flat from the previous quarter. Smokeable Products Segment was the largest line at 89% of revenue. Smokeable Products Segment added $0.04B year over year (up 1%), 75% of the total change.

Gross margin was 64.3%, up 1.5 points from Q3 2025. Operating profit was $3.3B, a 54.0% margin (up 0.8 points year over year). Of the extra revenue versus Q3 2025, 138% reached operating profit, above the 53% margin then. Operating expenses grew 8% against revenue growth of 1%. Net earnings were $2.5B, up 6% year over year. The effective tax rate was 23.6%.

Operating cash flow was $3.1B (roughly flat year over year), 124% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization. Working capital and other items added $0.53B. Capital expenditures of $0.11B left free cash flow of $3.0B.

Quarterly history

Altria Group revenue by quarterAltria Group revenue by quarter$5.3BQ1 2025$6.1BQ2 2025$6.1BQ3 2025$5.8BQ4 2025$5.4BQ1 2026$6.1BQ2 2026$6.1BQ3 2026
Altria Group net earnings by quarterAltria Group net earnings by quarter$1.1BQ1 2025$2.4BQ2 2025$2.4BQ3 2025$1.1BQ4 2025$2.2BQ1 2026$2.3BQ2 2026$2.5BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$6.1B+1%54.0%$2.5B$3.1B
Q2 202610-QJul 30, 2026$6.1B+0.1%51.3%$2.3B$719M
Q1 202610-QApr 30, 2026$5.4B+3%54.5%$2.2B$2.3B
Q4 202510-KFeb 25, 2026$5.8B-2%28.2%$1.1B$3.3B
Q3 202510-QOct 30, 2025$6.1B-3%53.2%$2.4B$3.1B
Q2 202510-QJul 30, 2025$6.1B-2%52.9%$2.4B$205M
Q1 202510-QApr 29, 2025$5.3B-6%34.0%$1.1B$2.7B

Charts

Altria Group: revenue growth, year over year and quarter over quarterAltria Group: revenue growth, year over year and quarter over quarterY/YQ/Q-6%Q1 2025-2%+16%Q2 2025-3%0%Q3 2025-2%-4%Q4 2025+3%-7%Q1 2026+0%+13%Q2 2026+1%+0%Q3 2026
Latest (Q3 2026): Y/Y +1%, Q/Q +0%.
Altria Group: where the cash came from (+) and went (−), TTM to Q3 2026Altria Group: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$9.4BDividends−$7.1BNet borrowing (+) / repaid (−)−$1.6BBuybacks−$1.0BCash drawn (+) / kept (−)$785MCapital spending−$351MOther investing−$126MOther financing−$23.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Altria Group: profit against cash, quarter by quarterAltria Group: profit against cash, quarter by quarterNet incomeOperating cash flow$3.0B$3.3BQ4 2024$1.1B$2.7BQ1 2025$2.4B$205MQ2 2025$2.4B$3.1BQ3 2025$1.1B$3.3BQ4 2025$2.2B$2.3BQ1 2026$2.3B$719MQ2 2026$2.5B$3.1BQ3 2026
Latest (Q3 2026): Net income $2.5B, Operating cash flow $3.1B.
Altria Group: diluted shares by fiscal yearAltria Group: diluted shares by fiscal year1.86BFY20201.84BFY20211.80BFY20221.78BFY20231.72BFY20241.68BFY2025
-9.5% since FY2020: buybacks shrank the count.
Altria Group: long-term debt falling due (FY2025)Altria Group: long-term debt falling due (FY2025)$1.6B2026$1.2B2027$1.0B2028$1.9B2029$1.2B2030
Cash $4.5B, short-term investments —, long-term debt $25.7B at 2025-12-31.
Altria Group in its industry: growth against margin (4 companies, SIC 2111)Altria Group in its industry: growth against margin (4 companies, SIC 2111)revenue growth, year over year →↑ operating marginmedian +6%median 42%PMISPRXXIIMO (+1%, 54%)
Cigarettes; dot size is quarterly revenue; dashed lines are the industry's medians.

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Customers and suppliers named in filings

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About Altria Group

When used in this Annual Report on Form 10-K (“Form 10-K”), the terms “Altria,” “we,” “us” and “our” refer to either (i) Altria Group, Inc. and its consolidated subsidiaries or (ii) Altria Group, Inc. only and not its consolidated subsidiaries, as appropriate in the context. We have a leading portfolio of tobacco products for U.S. tobacco consumers age 21+. We are Moving Beyond Smoking TM , by responsibly transitioning adult smokers to a smoke-free future, competing vigorously for existing smoke-free adult nicotine consumers and exploring new growth opportunities - beyond the United States and beyond nicotine (“Vision”).

In its own words, from its 10-K, filed Feb 25, 2026.

Altria Group against its Cigarettes peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +6%. Operating margin: 54.0% against the peers' median 42.5%.

CompanyQuarterRevenueY/YOp. margin
MO Altria GroupQ3 2026$6.1B+1%54.0%
PM Philip Morris InternationalQ3 2026$11.4B+6%42.5%
ISPR Ispire TechnologyQ4 FY26$26.7M+32%-50.7%
XXII 22nd Century GroupQ2 2026$2.9M-30%-114.9%

Source: Altria Group 10-Q on SEC EDGAR · CIK 764180 · Cigarettes

Guidance and outlook

Altria Group: what its forward-looking statements are about (10-Q filed 2026-10-29)Altria Group: what its forward-looking statements are about (10-Q filed 2026-10-29)Other6Demand3Legal & regulation3Financing3Costs2Products2Buybacks & dividends2Capital spending2Deals1People1
25 statements; tone -0.04 (−1 all cautious, +1 all confident); 7 hedged.
Altria Group: outlook statements against the filing beforeAltria Group: outlook statements against the filing beforeNew1Updated1Confident5Cautious6

13F: who owns MO and who is buying

Largest holders of MO (13F)Largest holders of MO (13F)Vanguard Group$9.3BBlackRock$9.1BVanguard Capital Management LLC$7.8BState Street$5.1BCharles Schwab Investment Managem…$4.3BCapital Research Global Investors$4.2BGeode Capital Management, LLC$3.4BVanguard Portfolio Management LLC$2.4BGQG Partners LLC$1.8BMorgan Stanley$1.6B
Funds' net buying of MO by quarter (13F)Funds' net buying of MO by quarter (13F)−$673M2024-09−$151M2024-12$1.4B2025-03−$671M2025-06−$732M2025-09$1.2B2025-12−$861M2026-03$2.7B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on MO

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：奥驰亚（MO）财报

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