Q2 25 EPS
$1.44
BEAT +3.99%
Est. $1.38
Q2 25 Revenue
$5.29B
BEAT +1.94%
Est. $5.19B
vs S&P Since Q2 25
+13.1%
BEATING MARKET
MO +26.7% vs S&P +13.6%
Market Reaction
Did MO Beat Earnings? Q2 2025 Results
Altria Group delivered a solid beat on both top and bottom lines in the second quarter of 2025, with adjusted earnings coming in at $1.44 per share, clearing the $1.38 consensus estimate by 3.99%, while revenues net of excise taxes reached $5.29 bill… Read more Altria Group delivered a solid beat on both top and bottom lines in the second quarter of 2025, with adjusted earnings coming in at $1.44 per share, clearing the $1.38 consensus estimate by 3.99%, while revenues net of excise taxes reached $5.29 billion against expectations of $5.19 billion, a 1.94% beat and a modest 0.3% gain year-over-year. The headline driver was disciplined pricing power in the smokeable products segment, where adjusted operating margins expanded 2.9 percentage points to 64.5% despite a 10.2% decline in domestic cigarette shipment volumes, a drop management attributed largely to illicit flavored disposable e-vapor products flooding the market. Oral tobacco added another growth layer, with on! Nicotine pouch volumes climbing 26.5% to 52.1 million cans. The strong first-half performance prompted Altria to narrow its full-year 2025 adjusted EPS guidance to $5.35–$5.45, raising the lower end to reflect 3.0%–5.0% growth, even as management cautioned that second-half comparisons will be tougher. Altria's stock has climbed roughly 17.6% year-to-date, reflecting renewed investor confidence in the company's pricing resilience.
Key Takeaways
- • Higher pricing in smokeable and oral tobacco segments
- • Lower per unit settlement charges in smokeable products
- • on! nicotine pouch shipment volume growth of 26.5%
- • Fewer shares outstanding due to share repurchase program
- • Adjusted OCI margin expansion in both smokeable (64.5%) and oral tobacco (68.7%) segments
- • Lower costs across segments
MO YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
MO Revenue by Segment
With YoY comparisons, source: SEC Filings
“In the second quarter, we continued the pursuit of our Vision while maintaining our strong and profitable core businesses. In oral tobacco, on! delivered strong performance and was the substantial driver of the segment's growth in the quarter. And we returned significant value to our loyal shareholders during the first-half of the year, with more than $4 billion delivered through dividends and share repurchases.”
— Billy Gifford, Q2 2025 Earnings Press Release
MO Earnings Trends
MO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MO EPS Trend
Earnings per share: estimate vs actual
MO Revenue Trend
Quarterly revenue: estimate vs actual
MO Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.32 | — | $5.43B | +18.58% |
| Q4 25 BEAT FY | $1.25 | $1.30 | +4.39% | $5.85B | +27.85% |
| FY Full Year | — | $5.42 | — | $23.28B | — |
| Q3 25 BEAT | $1.45 | $1.45 | +0.12% | $5.25B | -1.05% |
| Q2 25 BEAT | $1.38 | $1.44 | +3.99% | $5.29B | +1.94% |
| Q1 25 BEAT | $1.19 | $1.23 | +3.53% | $5.26B | +13.95% |