Q3 25 EPS
$1.45
BEAT +0.12%
Est. $1.45
Q3 25 Revenue
$5.25B
MISS 1.05%
Est. $5.31B
vs S&P Since Q3 25
+26.2%
BEATING MARKET
MO +32.2% vs S&P +6.0%
Market Reaction
Did MO Beat Earnings? Q3 2025 Results
Altria Group delivered a mixed third quarter, managing a narrow earnings beat against persistent top-line pressure as the tobacco giant continues navigating structural headwinds in its core cigarette business. Adjusted diluted EPS came in at $1.45, e… Read more Altria Group delivered a mixed third quarter, managing a narrow earnings beat against persistent top-line pressure as the tobacco giant continues navigating structural headwinds in its core cigarette business. Adjusted diluted EPS came in at $1.45, edging past the $1.45 consensus estimate by 0.12%, lifted by margin expansion and a reduced share count, a dynamic that has become a reliable earnings lever for the company. Revenue net of excise taxes, however, fell short of expectations, declining 1.7% year-over-year to $5.25 billion against a $5.31 billion consensus, as domestic cigarette shipment volume slumped 8.2% amid the unchecked proliferation of illicit flavored disposable e-vapor products and consumer downtrading pressure. Marlboro's retail share slipped 1.2 points to 40.4% even as smokeable segment margins expanded to 64.4%. On the strength of its earnings performance, management narrowed full-year 2025 adjusted EPS guidance to $5.37–$5.45, raising the low end to reflect 3.5% to 5.0% growth, while the Board doubled its share repurchase authorization to $2 billion through December 2026.
Key Takeaways
- • Higher pricing in smokeable and oral tobacco products offsetting volume declines
- • Lower per unit settlement charges in smokeable products
- • Fewer shares outstanding from share repurchase program
- • Adjusted OCI margin expansion in both smokeable (64.4%) and oral tobacco (69.2%) segments
- • Lower adjusted tax rate
MO YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
MO Revenue by Segment
With YoY comparisons, source: SEC Filings
“Altria continued to build significant momentum in the third quarter with exciting progress across our businesses. Our core tobacco businesses remained resilient; we advanced our smoke-free portfolio; and we opened new pathways for long-term adjacent growth in international modern oral and U.S. non-nicotine innovation.”
— Billy Gifford, Q3 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% |