Altria Group Inc

MO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Altria Earnings: Impressive Adjusted Operating Margin Expansion, but Shares Fairly Valued

Kristoffer Inton

Jul 30, 2025

Altria reported second-quarter adjusted EPS growth of 8.3% to $1.44, as smokeable adjusted operating margin expanded 2.9 percentage points to 64.1% despite a 9.9% volume decline. Oral tobacco net revenue grew 6%, and adjusted operating margin expanded 3.1 percentage points to 68.7%.

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Altria Group Inc

Altria Earnings: Impressive Adjusted Operating Margin Expansion, but Shares Fairly Valued

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