Philip Morris earns an adjusted $2.36 a share as third-quarter revenue rises 5.5 percent to $11.4bn
A smaller currency tailwind is the only thing Philip Morris International changed in its 2026 forecast on Wednesday, when its third-quarter results showed adjusted diluted earnings of $2.36 a share, up 5.4 percent from $2.24. The filing puts the currency benefit at $0.18 a share, down from $0.24. Reported diluted EPS fell 4.9 percent to $2.12, which the company put down mainly to a non-cash fair value adjustment on equity security investments.
Net revenue rose 5.5 percent to $11.4bn, or 7.1 percent organically. Operating income grew 14.1 percent. Total shipments edged up 0.6 percent.
Smoke-free products grew faster by volume and slower by revenue. Their shipments rose 2.7 percent and they brought in more than 40 percent of net revenue, but their revenue grew 4.1 percent against 6.4 percent for combustibles, helped by 8.9 percent pricing in the international combustibles segment. IQOS heated tobacco units shipped 41.5 billion.
In the United States, ZYN shipments grew 4.2 percent to 3.2 billion pouches. Segment revenue rose 22.7 percent against a year-earlier quarter weighed down by promotions.
