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Philip Morris International Inc. (PM) stock

PMNYSECigarettesFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 23, 2026Score 13/3053% above fair value
$208.79+0.29 (+0.14%)

Close on Oct 30, 2026Market cap $325.42BP/E 30.0Yield 2.70%

Earnings

Philip Morris International's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report
Feb 5, 2027
Q4 FY2026 · estimated, before the open
Revenue, Q3 FY2026
$11.40B
+5.6% on a year earlier
Adjusted diluted EPS, Q3 FY2026
$2.36
$2.24 a year earlier
Latest guidance
Issued
Oct 21, 2026 · 7 items

Quarterly results

Revenue and earnings per share from each of Philip Morris International's earnings releases, newest first

QuarterReportedRevenueYoYEPSAdj. EPSSource
Q4 FY2026ended Dec 31, 2026Feb 5, 2027Expected–––––
Q3 FY2026ended Sep 30, 2026Oct 21, 2026before the open$11.40B+5.6%$2.12$2.36Release
Q2 FY2026ended Jun 30, 2026Jul 22, 2026before the open$11.20B+10.5%$1.80$2.20Release
Q1 FY2026ended Mar 31, 2026Apr 22, 2026before the open$10.10B+8.6%$1.56$1.96Release
Q4 FY2025ended Dec 31, 2025Feb 6, 2026before the open$10.36B+6.8%––Release
Q3 FY2025ended Sep 30, 2025Oct 21, 2025before the open$10.80B+9.0%$2.23$2.24Release
Q2 FY2025ended Jun 30, 2025Jul 22, 2025before the open$10.14B+7.1%$1.95$1.91Release
Q1 FY2025ended Mar 31, 2025Apr 23, 2025before the open$9.30B+5.8%$1.72$1.69Release
Q4 FY2024ended Dec 31, 2024Feb 6, 2025before the open$9.71B+7.8%––Release
Q3 FY2024ended Sep 30, 2024Oct 22, 2024before the open$9.91B+8.4%$1.97$1.91Release
Q2 FY2024ended Jun 30, 2024Jul 23, 2024before the open$9.47B+5.6%$1.54$1.59Release
Q1 FY2024ended Mar 31, 2024Apr 23, 2024before the open$8.79B+9.9%$1.38$1.50Release

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

Philip Morris International's latest outlook for periods it has not reported yet, compared with what it said before

MetricPeriodGuidanceBeforeChangeGiven
Net revenue growthnon-GAAPFY2026+5% – +7%–NewOct 21, 2026
Net revenue growth on an organic basisnon-GAAPFY2026+5% – +7%+5% – +7%ReaffirmedJul 22, 2026
Organic operating income growthnon-GAAPFY2026+7% – +9%–NewOct 21, 2026
Organic operating income growthnon-GAAPFY2026+7% – +9%+7% – +9%ReaffirmedJul 22, 2026
Reported diluted EPSGAAPFY2026$7.11 – $7.26–NewOct 21, 2026
Reported diluted EPSGAAPFY2026$7.19 – $7.34$7.56 – $7.71LoweredJul 22, 2026
Adjusted Diluted EPSnon-GAAPFY2026$8.29 – $8.44–NewOct 21, 2026
Adjusted Diluted EPSnon-GAAPFY2026$8.26 – $8.41$8.36 – $8.51LoweredJul 22, 2026
projected increase versus adjusted diluted EPS in 2025 excluding currencynon-GAAPFY2026+7.5% – +9.5%+11.1% – +13.1%LoweredJul 22, 2026
Capital expendituresFY2026$1.40B – $1.60B–NewOct 21, 2026
Capital expendituresFY2026$1.40B – $1.60B$1.40B – $1.60BReaffirmedJul 22, 2026
effective tax rate, excluding discrete tax eventsnon-GAAPFY202621.5%–NewOct 21, 2026
effective tax rate, excluding discrete tax eventsFY202621.5%–NewJul 22, 2026
Full-year amortization of acquired intangibles per shareFY2026$0.50–NewJul 22, 2026
net debt to adjusted EBITDA ratioFY20262–NewJul 22, 2026
Operating cash flowFY2026$13.50B–NewOct 21, 2026
Operating cash flowFY2026$13.50B$13.50BReaffirmedJul 22, 2026

Guidance vs results

The last range Philip Morris International gave before each report, against the figure it then reported. Full years add up the four quarters.

PeriodMetricGuidanceActualResult
Q3 FY2026adjusted diluted EPS$2.20 – $2.25$2.36Above range
Q2 FY2026adjusted diluted EPS$2.02 – $2.07$2.20Above range
Q1 FY2026First quarter adjusted diluted EPS$1.80 – $1.85$1.96Above range
FY2025Revenue growth+6% – +8%+7.19%Σ4QWithin range
Q3 FY2025adjusted diluted EPS$2.08 – $2.13$2.24Above range
Q2 FY2025Second quarter adjusted diluted EPS$1.80 – $1.85$1.91Above range
Q1 FY2025First quarter adjusted diluted EPS$1.58 – $1.63$1.69Above range
Q3 FY2024third quarter adjusted diluted EPS$1.77 – $1.82$1.91Above range
Q2 FY2024second quarter adjusted diluted EPS$1.50 – $1.55$1.59Above range
Q1 FY2024adjusted diluted EPS$1.37 – $1.42$1.50Above range
Q3 FY2023adjusted diluted EPS$1.60 – $1.65$1.67Above range
Q2 FY2023adjusted diluted EPS$1.42 – $1.47$1.60Above range

Guidance history

Every forecast Philip Morris International put in an earnings release, newest first

GivenMetricPeriodGuidanceChange
Oct 21, 2026Capital expendituresFY2026$1.40B – $1.60BNew
Oct 21, 2026Adjusted Diluted EPSFY2026$8.29 – $8.44New
Oct 21, 2026Reported diluted EPSFY2026$7.11 – $7.26New
Oct 21, 2026Organic operating income growthFY2026+7% – +9%New
Oct 21, 2026effective tax rate, excluding discrete tax eventsFY202621.5%New
Oct 21, 2026Operating cash flowFY2026$13.50BNew
Oct 21, 2026Net revenue growthFY2026+5% – +7%New
Jul 22, 2026Capital expendituresFY2026$1.40B – $1.60BReaffirmed
Jul 22, 2026projected increase versus adjusted diluted EPS in 2025 excluding currencyFY2026+7.5% – +9.5%Lowered
Jul 22, 2026projected increase versus adjusted diluted EPS in 2025FY2026+9.5% – +11.5%Raised
Jul 22, 2026Adjusted Diluted EPSFY2026$8.26 – $8.41Lowered
Jul 22, 2026Adjusted Diluted EPS, excluding currencyFY2026$8.11 – $8.26Lowered
Jul 22, 2026adjusted diluted EPSQ3 FY2026$2.20 – $2.25New
Jul 22, 2026Reported diluted EPSFY2026$7.19 – $7.34Lowered
Jul 22, 2026Organic operating income growthFY2026+7% – +9%Reaffirmed
Jul 22, 2026net debt to adjusted EBITDA ratioFY20262New
Jul 22, 2026effective tax rate, excluding discrete tax eventsFY202621.5%New
Jul 22, 2026Operating cash flowFY2026$13.50BReaffirmed
Jul 22, 2026Full-year amortization of acquired intangibles per shareFY2026$0.50New
Jul 22, 2026Net revenue growth on an organic basisFY2026+5% – +7%Reaffirmed

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.

Press releases

Releases Philip Morris International filed with the SEC as exhibits to Form 8-K or 6-K

  1. Philip Morris International Reports 2026 Third-Quarter & First Nine-Months Results
    Results
  2. Glossary of Key Terms, Definitions
    Results
  3. Philip Morris International Increases Dividend by 8.8%
    Update
  4. Championing a Smoke-Free World Barclays Global Consumer Conference September 8, 2026 6 Appendix
    Update
  5. Philip Morris International Participates in 2026 Barclays Global Consumer Conference;
    Update
  6. Philip Morris International Announces Contract Manufacturing Collaboration with Altria
    Update
  7. Philip Morris International Reports 2026 Second-Quarter & First Six-Months Results
    Results
  8. Glossary of Key Terms, Definitions
    Results
  9. Declares Regular Quarterly Dividend of $1.47 Per Share
    Update
  10. Philip Morris International Participates in 2026 dbAccess Global Consumer Conference;
    Update
  11. Philip Morris International Announces Group CFO Succession
    Update
  12. Philip Morris International Holds 2026 Virtual Annual Meeting of Shareholders
    Update
  13. Philip Morris International Reports 2026 First-Quarter Results
    Results
  14. Glossary of Key Terms, Definitions
    Results
  15. PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
    Update