The stock is likely to react positively to the strong adjusted EPS beat and raised full-year guidance, despite the reported EPS miss. Monitor the next earnings call for updates on ZYN performance in the U.S. and progress on FDA reviews for ZYN ULTRA.
Price Chart
Executive Summary
Philip Morris International reported Q1 2026 adjusted diluted EPS of $1.96, a 16.0% year-over-year increase, driven by strong international smoke-free growth and favorable currency impacts. However, reported EPS declined 9.3% to $1.56 due to a $0.22 non-cash fair value adjustment on equity investments in India and Sri Lanka.
Key Financial Metrics
Key Facts
- Adjusted diluted EPS grew 16.0% YoY to $1.96
- Reported diluted EPS declined 9.3% to $1.56 due to $0.22 fair value adjustment
- Net revenues increased 9.1% to $10.1B, with smoke-free business growing 12.4%
- International smoke-free segment revenue grew 24.7% (15.8% organically)
- Full-year 2026 adjusted EPS forecast raised to $8.36–$8.51, up 10.9–12.9% YoY
Financial Impact
Adjusted EPS up 16.0% YoY, revenue up 9.1% YoY
Risk Factors
- U.S. segment weakness with 31.6% organic revenue decline
- Ongoing regulatory uncertainty around nicotine pouches
- Currency fluctuations and geopolitical risks in Middle East
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-026385 |
| Document: earningsreleasepm-ex991xq1.htm | 0001628280-26-026385 |
| Document: pm-20260422.htm | 0001628280-26-026385 |
| Document: 0001628280-26-026385-index-headers.html | 0001628280-26-026385 |
| Document: 0001628280-26-026385-index.html | 0001628280-26-026385 |
| Document: 0001628280-26-026385.txt | 0001628280-26-026385 |
| 8-K Data (Synthetic) | 0001628280-26-026385 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | 8-K | $197.46 | awaiting T+5 | — | $202.62 (+2.61%) |
Sep 18, 2026 5w ago | 8-K | $188.62 $190.48 | ▲ +0.99% | ▼ −0.28% | $202.62 (+7.42%) |
Sep 8, 2026 7w ago | 8-K | $184.73 $194.86 | ▲ +5.48% | ▲ +6.15% | $202.62 (+9.68%) |
Aug 24, 2026 9w ago | 8-K | $191.46 $187.30 | ▼ −2.17% | ▼ −2.64% | $202.62 (+5.83%) |
Aug 3, 2026 12w ago | 25-NSE | $187.41 $186.00 | ▼ −0.75% | ▼ −2.78% | $202.62 (+8.12%) |
Jul 22, 2026 13w ago | 8-K | $194.30 $198.44 | ▲ +2.13% | ▲ +4.53% | $202.62 (+4.28%) |
Jun 29, 2026 17w ago | 8-K | $180.91 $184.76 | ▲ +2.13% | ▲ +1.52% | $202.62 (+12.00%) |
Jun 11, 2026 19w ago | 8-K | $180.77 $179.44 | ▼ −0.74% | ▼ −1.17% | $202.62 (+12.09%) |
May 20, 2026 22w ago | 8-K | $187.72 $178.51 | ▼ −4.91% | ▼ −6.71% | $202.62 (+7.94%) |
May 6, 2026 24w ago | 8-K | $170.38 $186.93 | ▲ +9.72% | ▲ +8.58% | $202.62 (+18.92%) |
US Market Status
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