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Sep 30, 2025
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.
Revenue by Segment
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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