Altria Group Inc

“In smokeable products, PM USA grew operating companies income through its data-driven, total portfolio approach, with Cowboy Cut strengthening Marlboro's premium position and Basic continuing to gain share in discount. In smoke-free, Helix made meaningful progress by expanding on! PLUS 12-milligram nationwide, investing in brand-building initiatives and preparing for its next wave of innovation, which is now underway with the introduction of Blueberry Mint and Mango Pineapple flavor extensions…

Altria is defending both ends of the cigarette aisle at once, pushing Marlboro premium with Cowboy Cut while Basic takes discount share from trade-down smokers. On the smoke-free side, ON! PLUS 12-milligram is going nationwide with two new flavors, Altria's answer to higher-strength pouch rivals.

“Altria delivered strong financial performance in the third quarter, growing adjusted diluted earnings per share by 4.8%, while continuing to invest in our Vision and building on our foundation for the future.

Shrinking cigarette volumes still aren't stopping Altria's earnings engine, and Mancuso is leaning on pricing and buybacks to keep the per-share line moving while the smoke-free pivot plays out. For a $121.9 billion dividend holding, that steady compounding is the whole thesis.

“Our strong performance through the first nine months and confidence in our full-year plan allowed us to raise our earnings guidance for the year. We now expect to deliver adjusted diluted EPS in a range of $5.66 to $5.74, representing a growth rate of 4.5% to 6.0% from a base of $5.42 in 2025.

Altria is lifting its full-year earnings outlook with one quarter left, a rare move for a shrinking-volume cigarette business funding a 7%-plus dividend. The raise puts growth at the upper end of management's long-term algorithm, and income investors get the payout coverage question answered for 2026.

“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. In August, we announced our 61st dividend increase in 57 years, and our Board of Directors (Board) recently authorized a $1 billion expansion of our existing share repurchase program.

Altria's board just added $1 billion to the repurchase authorization, stacking buybacks on top of a dividend the company has raised 61 times in 57 years. For income holders, the cash return engine is still intact heading into 2027.