More from MO Q2 2026

Altria Group, Inc.

MO2026 Q2Consumer

1mo

Helix on! PLUS rollout: store coverage, trial generation, and share gains

Helix expanded on! PLUS to 120,000 stores and described coverage as roughly 90% of nicotine product volume.
In Q2, on! retail share reached 8.6%, up 0.8 share points sequentially and 0.3 year-over-year, driven by on! PLUS introduction.
Management said early data indicates resonance with both loyal on! and competitive nicotine pouch consumers, contributing incremental volume and share.
Repeat purchase rates were described as encouraging, supporting the differentiated NICOSILK soft pouch experience.
A new retail trade program provided premium visibility and incremental fixture space, supported by responsible marketing investments in retail, live events, and paid social.

Altria Group, Inc.

MO2026 Q2Consumer

1mo

Financial Performance Summary

Adjusted diluted EPS increased 2.8% to $1.48 in Q2 and 4.9% to $2.80 for the first half of 2026.
In the ABI segment, adjusted equity earnings were $158M in Q2, up 21.5% year-over-year.
Oral Tobacco Products adjusted OCI decreased 8% in Q2 and 4.2% in the first half, with margins remaining strong at 66.7% (Q2) and 67% (first half).
Oral Tobacco Products shipment volumes fell 8.5% in Q2 and 6% in the first half (trade-adjusted down ~2% in Q2 and ~5.5% in the first half).
Reported domestic cigarette volumes declined 3.2% in Q2 and 2.8% in the first half; after trade inventory movements they declined an estimated 4.5% (Q2) and 4.0% (first half).
Smokeable adjusted OCI margins expanded to 64.8% in Q2 and 64.9% in the first half.
Smokeable products drove earnings: adjusted OCI rose 2.4% to $3.0B in Q2 and 4.2% to $5.7B in the first half.

Altria Group, Inc.

MO2026 Q2Consumer

1mo

Cowboy Cut serves 2 purposes: it helps Marlboro celebrate 250 years and leverages American heritage, while engaging value-sensitive Marlboro smokers under pressure.

Bonnie Herzog

Context

The company described the rationale for Marlboro Cowboy Cut during the Q&A. In response to questions about market share trajectory and sourcing of volume, management positioned Cowboy Cut as part of a suite of RGM tools. They said it helps insulate Marlboro and applies data analytics to be prescriptive in promotional rates by geography.

More from MO Q2 2026

Altria Group, Inc.

MO2026 Q2Consumer

1mo

Helix on! PLUS rollout: store coverage, trial generation, and share gains

Helix expanded on! PLUS to 120,000 stores and described coverage as roughly 90% of nicotine product volume.
In Q2, on! retail share reached 8.6%, up 0.8 share points sequentially and 0.3 year-over-year, driven by on! PLUS introduction.
Management said early data indicates resonance with both loyal on! and competitive nicotine pouch consumers, contributing incremental volume and share.
Repeat purchase rates were described as encouraging, supporting the differentiated NICOSILK soft pouch experience.
A new retail trade program provided premium visibility and incremental fixture space, supported by responsible marketing investments in retail, live events, and paid social.

Altria Group, Inc.

MO2026 Q2Consumer

1mo

Financial Performance Summary

Adjusted diluted EPS increased 2.8% to $1.48 in Q2 and 4.9% to $2.80 for the first half of 2026.
In the ABI segment, adjusted equity earnings were $158M in Q2, up 21.5% year-over-year.
Oral Tobacco Products adjusted OCI decreased 8% in Q2 and 4.2% in the first half, with margins remaining strong at 66.7% (Q2) and 67% (first half).
Oral Tobacco Products shipment volumes fell 8.5% in Q2 and 6% in the first half (trade-adjusted down ~2% in Q2 and ~5.5% in the first half).
Reported domestic cigarette volumes declined 3.2% in Q2 and 2.8% in the first half; after trade inventory movements they declined an estimated 4.5% (Q2) and 4.0% (first half).
Smokeable adjusted OCI margins expanded to 64.8% in Q2 and 64.9% in the first half.
Smokeable products drove earnings: adjusted OCI rose 2.4% to $3.0B in Q2 and 4.2% to $5.7B in the first half.

Altria Group, Inc.

MO2026 Q2Consumer

1mo

Cowboy Cut serves 2 purposes: it helps Marlboro celebrate 250 years and leverages American heritage, while engaging value-sensitive Marlboro smokers under pressure.

Bonnie Herzog

Context

Altria Group, Inc.: on! PLUS share gains without matching shipment acceleration

More from MO Q2 2026

Altria Group, Inc. 2026 Q2: Helix on! PLUS rollout: store coverage, trial generation, and share gains

Altria Group, Inc. 2026 Q2: Financial Performance summary

More from MO Q2 2026

More from MO Q2 2026

Altria Group, Inc. 2026 Q2: Helix on! PLUS rollout: store coverage, trial generation, and share gains

Altria Group, Inc. 2026 Q2: Financial Performance summary