Altria Raises 2026 EPS Outlook, Adds $1 Billion to Buyback Authorization

Altria Group Inc. raised its 2026 adjusted diluted earnings-per-share outlook Thursday, Oct. 29, to $5.66-$5.74. The range implies growth of 4.5%-6% from the company’s 2025 adjusted EPS of $5.42.

Altria’s previous 2026 adjusted EPS range of $5.61-$5.72 was lower at both ends. The updated forecast covers the full year, while the company’s $1.52 adjusted diluted EPS figure is for the third quarter.

Adjusted diluted EPS increased 4.8% from a year earlier in the quarter ended Sept. 30. For the first nine months of 2026, the measure was $4.33, up 5.1% year over year. The adjusted measure uses Altria’s non-GAAP methodology and excludes certain special items.

The company’s board authorized a $1 billion expansion of its share repurchase program on Oct. 28. The expanded authorization expires Dec. 31, 2027. Any repurchases remain subject to market conditions and board discretion.

“We now expect to deliver adjusted diluted EPS in a range of $5.66 to $5.74,” CEO Sal Mancuso said.

Altria expanded its 12-milligram on! PLUS products nationwide. Blueberry Mint and Mango Pineapple are available at retail in 6-, 9- and 12-milligram strengths. Watermelon Mint is planned for select retail locations in the fourth quarter of 2026, also in those strengths.

Altria did not provide a corresponding GAAP EPS forecast or reconciliation because it could not estimate certain special items for a forward-looking period. The updated adjusted outlook is for full-year 2026.