| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 11.2K | 10.3% | 10.4% |
| Total Income | 11.2K | 10.3% | 10.4% |
| Expenditure | 6.7K | 6.5% | 3.6% |
| PBT | 4.3K | 17.2% | 25.4% |
| Net Profit | 2.8K | 15.6% | 7.3% |
| OPM | 40.48% | 2.11pp | 3.87pp |
| NPM | 25.17% | 1.14pp | 4.80pp |
| EPS | 1.80 | 15.4% | 7.7% |
Philip Morris International Reports Q2 2026 Results
22 Jul 2026 · 22 Jul, 4:36 pm
Summary
Philip Morris International Inc. announced strong second-quarter 2026 results, with net revenues reaching $11.2 billion, up 10.4% (7.6% organically), marking the first time revenues exceeded $11 billion. The smoke-free business continued its robust growth, contributing 42% of total net revenues. Adjusted diluted EPS saw a significant increase of 15.2% to $2.20. Management expressed satisfaction with the outstanding results and momentum, positioning the company well to achieve its full-year targets while investing for future growth.
Key Highlights
- 1
Philip Morris International Inc. reported second-quarter net revenues of $11.2 billion, an increase of 10.4% (7.6% organically).
- 2
The company's smoke-free business accounted for approximately 42% of total net revenues in Q2 2026, with net revenue growth of 11.7% (9.7% organically).
- 3
Reported diluted EPS for the second quarter was $1.80, while adjusted diluted EPS grew by 15.2% to $2.20.
- 4
Gross profit increased by 11.5% (8.7% organically) in the second quarter, with gross margins expanding due to strong pricing, scale, and smoke-free product mix benefits.
- 5
Operating income increased by 22.0% (10.7% organically) in the second quarter.
- 6
For the first six months of 2026, net revenues increased by 9.8% (5.3% organically) to $21.3 billion.
- 7
The company updated its 2026 full-year adjusted diluted EPS forecast to a range of $8.11 to $8.26, excluding currency.
Management Comments
Jacek Olczak
We delivered outstanding results in the second quarter, driving net revenues to over $11 billion for the first time with excellent growth across all headline metrics. With a robust first half under our belt, including continued momentum and strong results in our smoke-free business, we are well positioned to deliver on our full-year targets while investing for future growth.
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