Altria Group said on April 30 that its first-quarter adjusted diluted earnings rose 7.3% and it was keeping its 2026 full-year outlook unchanged, even as it bought back millions of shares and kept paying out cash to investors. The tobacco company said it now expects adjusted diluted EPS to come in between $5.56 and $5.72 this year.
The guidance implies growth of 2.5% to 5.5% from a 2025 base of $5.42. Chief Executive Billy Gifford said the company delivered a strong start to the year and reaffirmed the outlook, adding that the cash generated by its businesses supported dividends, share repurchases and continued investment in its Vision.
Altria repurchased 4.5 million shares in the quarter at an average price of $62.33 each, spending $280 million on buybacks. It also paid $1.8 billion in dividends. As of March 31, the company said it had $720 million left under its $2 billion repurchase program, which is set to expire on Dec. 31, 2026.
The earnings update comes as Altria continues to lean on its smokeable and oral tobacco businesses while navigating a market shaped by slower e-vapor growth and broader pressure on adult nicotine spending. The company said its smokeable segment generated strong income growth, Marlboro strengthened its position in the premium segment, PM USA kept to its total portfolio strategy, and on! performed well while Helix expanded on! PLUS nationwide.
Altria said its full-year guidance also assumes that NJOY ACE does not return to the marketplace in 2026, alongside planned investments in contract manufacturing, reinvestment of cost savings tied to its Optimize & Accelerate initiative and spending in support of its Vision. That leaves the company with a balance sheet and shareholder-return plan that still favors cash distributions, but with a narrower margin to absorb a year that management itself says will be more uneven in the first half than the second.