Altria Q3 2025 Earnings on deck: What to expect

Altria (MO [https://seekingalpha.com/symbol/MO]) is scheduled to announce Q3 earnings results on Thursday, October 30th, before market open.

The consensus EPS estimate is $1.45 [https://seekingalpha.com/symbol/MO/earnings/estimates] (+5.1% Y/Y) and the consensus revenue estimate is $5.31B (-0.6% Y/Y).

Over the last 2 years, MO has beaten EPS estimates [https://seekingalpha.com/symbol/MO/earnings/eps-surprise-summary] 63% of the time and has beaten revenue estimates 50% of the time.

Over the last 3 months, EPS estimates have seen 2 upward revisions [https://seekingalpha.com/symbol/MO/earnings/revisions] and 5 downward. Revenue estimates have seen 3 upward revisions and 3 downward.

Key highlights to watch include:

* Continued growth in the nicotine pouch segment (On! brand), which saw shipment volume rise about 26.5% in Q2 2025 and remains a growth driver.
* The company’s smokable products segment, especially Marlboro, has maintained premium brand market share despite volume declines, supported by pricing strength.
* Operating income and gross margin expansions were seen in the prior quarter due to pricing power and cost control.
* Guidance for full-year 2025 EPS has been narrowed up to $5.35–$5.45, with ongoing share repurchases and dividend returns as key shareholder returns.
* Regulatory pressures and inflation's impact on cigarette volumes and market mix remain challenges.

Both Wall Street analysts and Seeking Alpha’s Quant Rating currently suggest a Hold [https://seekingalpha.com/symbol/MO/ratings/quant-ratings#source=firstLevelUrl%3Asymbol%7CbiSectionAsset%3ARatingSummary%7CbiName%3AQuant_rating].

However, views among SA analysts are mixed. Skeptical12 maintains a Buy [https://seekingalpha.com/article/4829662-altria-the-company-is-ready-to-make-a-move-into-the-smokeless-segment], arguing that Altria’s stable business model, high margins, and strong cash flow continue to support attractive shareholder returns. The analyst highlights improved performance following the JUUL write-down, strong Q2 results with 6% Y/Y EPS growth, and ongoing expansion into smokeless products through new partnerships. With shares trading at ~13.3x forward earnings and offering a 6.23% dividend yield, the analyst sees the stock as undervalued.

On the other hand, Kody’s Dividends recently downgraded MO to Hold [https://seekingalpha.com/article/4829426-altria-group-no-longer-the-time-to-buy-now-rating-downgrade], noting that while the company extended its 56-year dividend growth streak and maintains disciplined leverage (debt-to-EBITDA at ~2x), shares now appear fairly valued. The analyst still expects MO to deliver a ~9% annual total return through 2030, supported by dividends and modest earnings growth, but views upside as limited at current levels.

MORE ON ALTRIA

* Altria: The Company Is Ready To Make A Move Into The Smokeless Segment [https://seekingalpha.com/article/4829662-altria-the-company-is-ready-to-make-a-move-into-the-smokeless-segment]
* Altria: A Safe-Haven Buy As Tariffs Trigger Panic Selling [https://seekingalpha.com/article/4829641-altria-a-safe-haven-buy-as-tariffs-trigger-panic-selling]
* Altria Group: No Longer The Time To Buy Now (Rating Downgrade) [https://seekingalpha.com/article/4829426-altria-group-no-longer-the-time-to-buy-now-rating-downgrade]
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* Philip Morris' outlook snuffs out early gains, drags tobacco peers lower [https://seekingalpha.com/news/4506067-philip-morris-outlook-snuffs-out-early-gains-drags-tobacco-peers-lower]