ALTRIA GROUP, INC. EARNINGS PRESS RELEASE, DATED JULY 30, 2026

Transcript

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   EX-99.1 2 exhibit991erq22026.htm ALTRIA GROUP, INC. EARNINGS PRESS RELEASE, DATED JULY 30, 2026

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   Altria Reports 2026 Second-Quarter and First-Half Results; Narrows 2026 Full-Year Earnings Guidance

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   RICHMOND, Va. - July 30, 2026 - Altria Group, Inc. (NYSE: MO) today reports our 2026 second-quarter and first-half business results and narrows guidance for 2026 full-year adjusted diluted earnings per share (EPS).

4. #4Sal Mancuso · Altria’s Chief Executive Officer

   In the second quarter, our operating companies continued to deliver against the priorities we outlined at the start of the year – advancing our smoke-free portfolio, strengthening our traditional tobacco businesses and delivering significant returns to shareholders,

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   In smoke-free, Helix expanded on! PLUS to 120,000 stores nationwide, engaged in trial-generating activities and prepared for additional line extensions to come later this year. In smokeable products, PM USA advanced its data-driven, total portfolio approach to drive profitability as Marlboro Cowboy Cut generated strong interest among premium smokers and Basic continued to gain traction in discount.

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   We delivered strong first-half results, driving adjusted diluted EPS growth of 4.9%, and returned nearly $3.9 billion to shareholders through dividends and share repurchases combined. This performance reflects steady, disciplined execution and confidence in our full-year plan, which allowed us to narrow our earnings guidance for the year.

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   We are raising the lower-end of our full-year 2026 guidance. We now expect to deliver adjusted diluted EPS in a range of $5.61 to $5.72, representing a growth rate of 3.5% to 5.5% from a base of $5.42 in 2025.

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   | | | | | | | | | | | | | | | Altria Headline Financials 1 |

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   | | | | | | | | | | | | | | | | | | | | | ($ in millions, except per share data) | Q2 2026 | Change vs. Q2 2025 | | First Half 2026 | Change vs. First Half 2025 | | | | Net revenues | $6,111 | 0.1% | | $11,539 | 1.6% | | | | Revenues net of excise taxes | $5,356 | 1.2% | | $10,114 | 3.1% | | | | | | | | | | | | | Reported effective tax rate | 21.5% | (2.2) pp | | 22.6% | (5.4) pp | | | | Adjusted effective tax rate | 23.0% | (0.3) pp | | 23.0% | (0.4) pp | | | | | | | | | | | | | Reported diluted EPS | $1.37 | (2.8)% | | $2.67 | 30.9% | | | | Adjusted diluted EPS | $1.48 | 2.8% | | $2.80 | 4.9% | | | |

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    Basis of Presentation

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    As previously announced, a conference call with the investment community and news media will be webcast on July 30, 2026 at 9:00 a.m. Eastern Time. Access to the webcast is available at www.altria.com/webcasts. 6601 West Broad Street, Richmond, VA 23230

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    | | | | | | | | | | | | | | | Cash Returns to Shareholders |

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    Share Repurchase Program • In the second quarter, we repurchased 0.8 million shares at an average price of $65.11 per share, for a total cost of $55 million. • Through the first half, we repurchased 5.3 million shares at an average price of $62.78 per share, for a total cost of $335 million. • As of June 30, 2026, we had $665 million remaining under our $2 billion share repurchase program, which expires on December 31, 2026. Dividends • We paid dividends of $1.8 billion and $3.6 billion in the second quarter and first half, respectively. | | | | | | | | | | | | | | | Smoke-Free Portfolio Update |

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    • In the second quarter, Helix resumed shipments of 12-milligram on! PLUS in Florida, North Carolina and Texas in Mint, Wintergreen and Tobacco, with a national expansion planned for the third quarter. • Helix plans to expand its on! PLUS portfolio with additional flavors across 6-, 9- and 12-milligram nicotine strengths, beginning with Blueberry Mint and Mango Pineapple, in the fourth quarter. | | | | | | | | | | | | | | | 2026 Full-Year Guidance |

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    We narrow our guidance for 2026 full-year adjusted diluted EPS to be in a range of $5.61 to $5.72, representing a growth rate of 3.5% to 5.5% from a base of $5.42 in 2025. As previously disclosed, our guidance contemplates: (i) the impact of moderated e-vapor industry growth on combustible and e-vapor product volumes; (ii) increased macroeconomic uncertainty facing adult nicotine consumers (ANCs); (iii) investments in support of our contract manufacturing capabilities; (iv) that NJOY ACE does not return to the marketplace in 2026; (v) reinvestment of anticipated cost savings related to our Optimize & Accelerate initiative (Initiative); and (vi) investments in support of our Vision. Our narrowed guidance range continues to reflect our expectation for a greater benefit from cigarette import and export activity in the second half of the year than in the first half. Due to the timing of some second-quarter benefits, we expect the second-half benefit to be more balanced between the third and fourth quarters. In addition, we expect 2026 capital expenditures to be between $375 million and $450 million, a change from our previous expectation of $300 million to $375 million. The i…

16. #16for an explanation of

    Basis of Presentation

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    Second Quarter • Net revenues were essentially unchanged at $6.1 billion as higher net revenues in the smokeable products segment and all other category, which included 2025 acquisition-related items, were offset by lower net revenues in the oral tobacco products segment. Revenues net of excise taxes increased 1.2% to $5.4 billion. • Reported diluted EPS decreased 2.8 % to $1.37 , primarily driven by lower OCI (including higher tobacco and health and certain other litigation items and 2026 costs related to the USSTC Facilities Consolidation) and unfavorable ABI-related special items. These factors were partially offset by favorable income tax items, fewer shares outstanding and lower amortization of intangibles. • Adjusted diluted EPS increased 2.8% to $1.48, primarily driven by higher adjusted OCI and fewer shares outstanding. First Half • Net revenues increased 1.6% to $11.5 billion, primarily driven by higher net revenues in the smokeable products segment. Revenues net of excise taxes increased 3.1% to $10.1 billion. • Reported diluted EPS increased 30.9 % to $2.67 , primarily driven by higher reported OCI, which includes a 2025 non-cash impairment of the e-vapor reportin…

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    Note: For details of pre-tax, tax and after-tax amounts, see Schedule 6, 7, 8 & 9 3

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    | | | | | | | | | | | | | | | Special Items |

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    The EPS impact of the following special items is shown in Table 1 and Schedules 6, 7, 8 and 9. Acquisition-Related Items In the first half of 2025, we recorded net pre-tax expense items of $95 million (or $0.05 per share), including $70 million related to the U.S. International Trade Commission’s exclusion order and cease-and-desist orders prohibiting the importation and sale of NJOY ACE in the United States, partially offset by insurance recoveries from insurance contracts associated with the acquisition of NJOY. Also included was a $25 million non-cash, pre-tax charge related to a change in the fair value of contingent payments associated with the acquisition of NJOY. Asset Impairment, Exit and Implementation Costs In the second quarter and first half of 2026, we recorded pre-tax charges of $88 million (or $0.04 per share) and $94 million (or $0.04 per share), respectively, primarily due to the USSTC Facilities Consolidation. In the first half of 2025, we recorded pre-tax charges of $903 million (or $0.53 per share), primarily due to a non-cash impairment charge of $873 million to the e-vapor reporting unit goodwill in our all other category. Tobacco and Health and Certain…

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    SMOKEABLE PRODUCTS | | | | | | | | | | | | | | | Revenues and OCI |

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    Second Quarter • Net revenues increased 0.7%, primarily driven by higher pricing, partially offset by higher promotional investments, lower shipment volume and a higher percentage of discount shipment volume relative to premium versus the prior year (volume mix change). Revenues net of excise taxes increased 2.0%. • Reported OCI increased 0.4%, primarily driven by higher pricing and higher refunds of taxes and duties paid on imported cigarettes, partially offset by higher promotional investments, lower shipment volume, volume mix change, higher tobacco and health and certain other litigation items and higher costs . • Adjusted OCI increased 2.4%, primarily driven by higher pricing and higher refunds of taxes and duties paid on imported cigarettes, partially offset by higher promotional investments, lower shipment volume, volume mix change and higher costs . Adjusted OCI margins increased by 0.3 percentage points to 64.8%. First Half • Net revenues increased 1.7%, primarily driven by higher pricing, partially offset by higher promotional investments, lower shipment volume and volume mix change. Revenues net of excise taxes increased 3.5%. • Reported and adjusted OCI increased…

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    1 Reported and adjusted OCI margins are calculated as reported and adjusted OCI, respectively, divided by revenues net of excise taxes . | | | | | | | | | | | | | | | Shipment Volume |

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    Second Quarter • Smokeable products segment reported domestic cigarette shipment volume decreased 3.2%, primarily driven by the industry’s decline rate (impacted by continued discretionary income pressures on ANCs), partially offset by trade inventory movements and retail share gains. • When adjusted for trade inventory movements, smokeable products segment domestic cigarette shipment volume decreased by an estimated 4.5%. • When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. • Reported cigar shipment volume increased 5.0%. 5

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    First Half • Smokeable products segment reported domestic cigarette shipment volume decreased 2.8%, primarily driven by the industry’s decline rate (impacted by continued discretionary income pressures on ANCs), partially offset by trade inventory movements and retail share gains. • When adjusted for trade inventory movements, smokeable products segment domestic cigarette shipment volume decreased by an estimated 4%. • When adjusted for trade inventory movements, total domestic cigarette industry volume decreased by an estimated 5%. • Reported cigar shipment volume increased 2.6%. | | | | | | | | | | | | | | | | | | | | | | | | | | | | Table 3 - Smokeable Products: Reported Shipment Volume (sticks in millions) | | | | | | | | | | | | | | | | | | Second Quarter | | Six Months Ended June 30, | | | | 2026 | 2025 | Change | | 2026 | 2025 | Change | | | | | Cigarettes: | | | | | | | | | | | | Marlboro | 13,389 | 14,458 | (7.4) | % | | 25,349 | | 27,436 | (7.6) | % | | | | | Other premium | 678 | 719 | (5.7) | % | | 1,279 | | 1,397 | (8.4) | % | | | | | Discount | 1,487 | 889 | 67.3 | % | | 2,793 | | 1,437 | 94.4 | % | | | | | Total domestic cigarettes 1 | 15,554 | 16,…

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    1 Domestic cigarettes shipment volume includes Marlboro; Other premium brands, such as Virginia Slims and Parliament; and Discount brands, which include L&M and Basic. Domestic cigarettes volume includes units sold as well as promotional units sold for distribution in the U.S. and excludes units sold for distribution to Puerto Rico, U.S. Territories to overseas military and by Philip Morris Duty Free Inc., none of which, individually or in the aggregate, is material to our smokeable products segment. 2 Contract manufactured export cigarettes shipment volume represents contract manufactured cigarettes for third parties that market and sell tobacco products outside the U.S. | | | | | | | | | | | | | | | Retail Share and Brand Activity |

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    Second Quarter • Marlboro retail share of the total cigarette category was 39.5%, a decrease of 1.5 share points versus the prior year and 0.2 share points sequentially. Marlboro share of the premium segment was 59.6%, unchanged versus the prior year and an increase of 0.1 share point sequentially. • The cigarette industry discount retail share was 33.8%, an increase of 2.6 share points versus the prior year and 0.5 share points sequentially, primarily due to continued discretionary income pressures on ANCs. First Half • Marlboro retail share of the total cigarette category was 39.6%, a decrease of 1.4 share points. Marlboro share of the premium segment was 59.6%, an increase of 0.1 share point. • The cigarette industry discount retail share was 33.6%, an increase of 2.6 share points, primarily due to continued discretionary income pressures on ANCs. 6

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    | | | | | | | | | | | | | | | | | | | | | | | | | | | | Table 4 - Smokeable Products: Domestic Cigarettes Retail Share (percent) | | | | | | | | | | | | | | | Second Quarter | | Six Months Ended June 30, | | | | 2026 | 2025 | Percentage point change | | 2026 | 2025 | Percentage point change | | | | | Cigarettes: | | | | | | | | | | | | Marlboro | 39.5 | % | 41.0 | % | (1.5) | | 39.6 | % | 41.0 | % | (1.4) | | | | | Other premium | 2.1 | | 2.2 | | (0.1) | | 2.1 | | 2.2 | | (0.1) | | | | | Discount | 3.9 | | 2.0 | | 1.9 | | 3.8 | | 1.9 | | 1.9 | | | | | Total cigarettes | 45.5 | % | 45.2 | % | 0.3 | | 45.5 | % | 45.1 | % | 0.4 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

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    Note: Retail share results for cigarettes are based on data from Circana, LLC (Circana) as well as MSAi. Circana maintains a blended retail service that uses a sample of stores and certain wholesale shipments to project market share and depict share trends. This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes. For other trade classes selling cigarettes, retail share is based on shipments from wholesalers to retailers through the Store Tracking Analytical Reporting System (STARS), as provided by MSAi. This service is not designed to capture sales through other channels, including the internet, direct mail and some tax-advantaged outlets. It is the standard practice of retail services to periodically refresh their retail scan services, which could restate retail share results that were previously released in these services. 7

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    ORAL TOBACCO PRODUCTS | | | | | | | | | | | | | | | Revenues and OCI |