Quarterly ResultJul 22, 2026, 07:06 AM
Philip Morris Q2 Adj. EPS $2.20, Net Revenue $11.2B; FY26 Outlook Upheld
AI Summary
Philip Morris International reported strong second-quarter 2026 results, with adjusted diluted EPS growing 15.2% to $2.20 and net revenues increasing 10.4% to $11.2 billion. The smoke-free business continued its robust growth, contributing 42% of total net revenues. However, reported diluted EPS declined 7.7% to $1.80 due to a non-cash impairment of $511 million related to the RBH equity investment. The company updated its full-year 2026 adjusted diluted EPS forecast to $8.26-$8.41, maintaining its underlying growth expectations.
Key Highlights
- Q2 Adjusted Diluted EPS: $2.20, up 15.2% (13.6% excluding currency).
- Q2 Net Revenues: $11.2 billion, up 10.4% reported (7.6% organically).
- Q2 Smoke-Free Net Revenues: up 11.7% reported, comprising 42% of total net revenues.
- Q2 Total Shipment Volume: up 2.5%, driven by 7.5% increase in smoke-free products.
- Full-Year 2026 Adjusted Diluted EPS forecast: $8.26-$8.41, representing 9.5%-11.5% growth.
- Full-Year 2026 Organic Net Revenue Growth forecast: 5% to 7%.
- Non-cash impairment of RBH equity investment: $511 million, impacting diluted EPS by $0.33.
Price Impact
More from PM