| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 10.1K | 9.1% |
| Total Income | 10.1K | 9.1% |
| Expenditure | 6.3K | 8.6% |
| PBT | 3.7K | 11.2% |
| Net Profit | 2.4K | 9.4% |
| OPM | 38.37% | 0.27pp |
| NPM | 24.03% | 4.89pp |
| EPS | 1.56 | 9.3% |
Philip Morris International Reports Q1 2026 Results; Adjusted Diluted EPS Up 16%
22 Apr 2026 · 22 Apr, 4:32 pm
Summary
Philip Morris International reported a strong first quarter in 2026, with net revenues increasing by 9.1% to $10.1 billion. The smoke-free business continues to be a significant growth driver, accounting for 43% of total net revenues. Adjusted diluted EPS grew by 16.0%, reflecting strong performance, particularly from IQOS. Management is optimistic about continuing to deliver best-in-class performance throughout 2026.
Key Highlights
- 1
Net revenues increased by 9.1% to $10.1 billion in the first quarter of 2026.
- 2
The smoke-free business saw a revenue increase of 12.4%, contributing to 43% of total net revenues.
- 3
Adjusted diluted EPS grew by 16.0% to $1.96, or 5.3% excluding currency impacts.
- 4
International smoke-free segment net revenue grew by 24.7%, driven by an 11.9% volume increase.
- 5
IQOS surpassed Marlboro to become the #1 nicotine ‘brand’ in markets where present, reaching 10.9% of combined cigarette and HTU industry volumes.
- 6
VEEV quarterly shipments exceeded one billion equivalent units for the first time.
Management Comments
Jacek Olczak
"Our performance exceeded our expectations in the first quarter, with an outstanding delivery from IQOS driving very good growth for the group against a strong prior-year comparison."
Jacek Olczak
"Building on excellent broad-based momentum in the international smoke-free business and 16% adjusted diluted EPS growth in Q1, we are well positioned to continue delivering best-in-class performance in 2026."
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