Philip Morris International Reports 2026 Third-Quarter & First Nine-Months Results and Updates 2026 Full-Year Adjusted Diluted EPS Forecast for Currency Only
Philip Morris posted record Q3 2026 results with net revenues of $11.4 billion, up 5.5% (7.1% organic), and adjusted diluted EPS of $2.36, up 5.4%; reported diluted EPS fell 4.9% to $2.12 on a non-cash fair value adjustment. Operating income rose 14.1% (10.5% organic) on record pricing in combustibles and smoke-free momentum — IQOS HTUs hit 41.5 billion units, VEEV shipments grew 61.6%, and U.S. segment net revenues jumped 22.7% on ZYN strength. Smoke-free products now exceed 40% of total net revenues.
Key figures
- Eps
- 2.36
- Revenue
- 11400000000
- Guidance
- FY2026 adjusted diluted EPS $8.29-$8.44 (+9.9% to +11.9%, incl. $0.18 favorable currency, previously $0.24); ex-currency +7.5% to +9.5%; reported diluted EPS $7.11-$7.26
- Revenue Yoy
- 5.5% reported / 7.1% organic
- Ytd revenue
- $32.8B (+8.2%)
- Gross profit
- 7854000000
- Htu shipments
- 41.5 billion units (+1.5%)
- Capex forecast
- $1.4-$1.6 billion
- Operating income
- 4866000000
- Zyn us shipments
- 3.2 billion pouches (+4.2%)
- Quarterly dividend
- $1.60/share (+8.8%), $6.40 annualized
- Operating income yoy
- 14.1% reported / 10.5% organic
- Reported diluted eps
- 2.12
- Veev shipment growth
- 61.6%
- Total shipment volume
- 206.2 billion units (+0.6%)
- Reported diluted eps yoy
- -4.9%
- Ytd adjusted diluted eps
- $6.52 (+11.8%)
- Operating cash flow forecast
- around $13.5 billion
- Adjusted diluted eps ex currency
- 2.37
AI analysis
Red flags5 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.