Altria Raises Mo Stock Outlook to $5.72 on 7.3% EPS Growth
Mo stock moved after Altria Group said adjusted diluted EPS grew 7.3% in the first quarter of 2026 and reaffirmed full-year guidance of $5.56 to $5.72. The company paired that outlook with $1.8 billion in dividends and $280 million of share repurchases, signaling that earnings growth and cash returns remain the main levers for shareholders.
Gifford Backs $5.56 to $5.72
Billy Gifford said the company delivered a strong start to the year. “We delivered a strong start to the year, growing adjusted diluted EPS by 7.3% in the first quarter,” he said. “Our highly cash-generative businesses supported significant returns to shareholders through dividends and share repurchases, while we continued to invest in support of our Vision.”
7.3% adjusted diluted EPS growth gives Altria room to keep its 2026 target intact, even after the company flagged moderated e-vapor industry growth and increased macroeconomic uncertainty in its guidance. Gifford also said, “We reaffirm our expectation to deliver 2026 full-year adjusted diluted EPS in a range of $5.56 to $5.72, representing a growth rate of 2.5% to 5.5% from a base of $5.42 in 2025.”
$280 Million Buybacks
4.5 million shares were repurchased in the first quarter at an average price of $62.33 each, for a total cost of $280 million. Altria had $720 million remaining under its $2 billion share repurchase program as of March 31, 2026, with the authorization set to expire on December 31, 2026.
$1.8 billion in dividends added another layer to the quarter’s capital return profile. That combination leaves the company continuing to distribute cash while also preserving capacity under the repurchase plan, a balance that matters most if the rest of 2026 follows the more moderate first-half, second-half split the company now expects.
Marlboro, on!, and NJOY ACE
Strong income growth in smokeable products helped the quarter, while Marlboro strengthened its position in the premium segment and PM USA continued to execute its total portfolio strategy with discipline. on! also performed well in a highly competitive marketplace, and Helix expanded on! PLUS nationwide.
2026 guidance also contemplates progressive increases in cigarette import and export activity, planned investments in support of contract manufacturing capabilities, reinvestment of anticipated cost savings related to Optimize & Accelerate, and planned investments in support of Vision. The same range assumes NJOY ACE does not return to the marketplace in 2026, so the outlook rests on premium brands, cost discipline, and cash returns rather than a simple volume rebound.
