$MO — HOLD 📊 | 6 MONTHS THESIS

Altria Group, Inc., through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. 🎯 FQ2 FY2026 (ends Jun) | reported Jul 30 | Rev $6.1B | Adj EPS $1.48 vs $1.50 🔴 | GAAP EPS $1.38 | GAAP op margin 51.3% 💡 Q2 adjusted EPS of $1.48 missed consensus by roughly $0.02, while revenue of $6.11B slightly beat. Management narrowed FY26 EPS guidance to $5.61-$5.72; the midpoint near $5.665 is about in line with consensus $5.67, so expectations are already reset rather than providing a positive surprise gap. 🏢 Business Quality: 6/10 📊 Valuation: At $66.09 and FY26 guided EPS midpoint of about $5.665, the forward P/E is roughly 11.7x, with a dividend yield near 6.4%. 🔮 Catalyst: Next confirmable catalyst is Q3 FY2026 earnings, expected late October 2026. Need on! PLUS shipment acceleration and oral segment stabilization versus Q2's 8.5% reported volume decline; failure would be another cigarette volume leg down or FY26 guidance cut below $5.61. ⚖️

Altria Group, Inc., through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States.