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Sep 30
Altria Q3 2025 Earnings Report
Altria posted a modest earnings increase in Q3 2025 driven by resilient tobacco margins and expanded share repurchases.
Key Takeaways
Altria reported stable third-quarter results with a slight rise in adjusted EPS and steady profitability, despite revenue declines and shipment volume pressures.
Adjusted EPS rose to $1.45, driven by stronger margins and share repurchases.
Net revenue declined 3.0% YoY to $6.07B due to lower volume in tobacco segments.
Net income reached $2.375B, up from $2.293B in Q3 2024.
Share repurchase program doubled to $2B, and FY25 EPS guidance narrowed upwards.
Altria
Altria
Altria Revenue by Segment
Altria Revenue by Geographic Location
Revenue by Segment
Smokeable Products Revenue
CapyFin.comOral Tobacco Products Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Altria raised the lower bound of its FY25 adjusted EPS guidance to a range of $5.37–$5.45, reflecting stronger-than-expected Q3 results and a more resilient smoke-free strategy.
Positive Outlook
- FY25 adjusted EPS guidance raised to $5.37–$5.45.
- Strong operating margins in smokeable and oral tobacco segments.
- Expansion of share repurchase program to $2B.
- Improved adjusted tax rate at 23.1%.
- Continued investment in smoke-free innovation including Ploom and on! PLUS.
Challenges Ahead
- Revenue and volume declines in core tobacco segments.
- Marlboro lost 1.2pp of market share YoY.
- NJOY ACE remains off the market.
- Industry-wide headwinds from flavored disposable e-vapor products.
- EPS growth expected to moderate in Q4 due to share count and legal fund comparisons.
Revenue & Expenses
Visualization of income flow from segment revenue to net income