Philip Morris posts 5.5% revenue growth to $11.4B

• Philip Morris International (NYSE:PM) reported third-quarter 2026 revenue of $11.44 billion, up 5.5% year over year, while adjusted diluted EPS of $2.36 exceeded analysts' expectations.
• Adjusted EPS increased 5.4% from $2.24 a year earlier, while GAAP diluted EPS declined 4.9% to $2.12, partly reflecting non-cash valuation adjustments.
• Philip Morris forecast full-year adjusted diluted EPS of $8.29–$8.44, down from its September forecast of $8.35–$8.50, while increasing its quarterly dividend to $1.60 per share.

Philip Morris International (NYSE:PM) reported third-quarter 2026 revenue of $11.44 billion, up 5.5% year over year, exceeding analysts' estimates amid growth across its tobacco and nicotine businesses.

Adjusted diluted earnings rose 5.4% to $2.36 per share from $2.24, beating the $2.30 consensus estimate, while reported diluted EPS declined 4.9% to $2.12.

Smoke-free products generated more than 40% of quarterly revenue, with heated tobacco shipments increasing 1.5% and VEEV e-vapor shipments rising 61.6%.

U.S. ZYN shipments increased 4.2% to 3.2 billion pouches, while the international combustible segment recorded 6.5% revenue growth supported by higher cigarette pricing.

Philip Morris updated its full-year adjusted diluted EPS forecast to $8.29–$8.44, below September's guidance of $8.35–$8.50, while maintaining currency-neutral growth expectations.

The company also increased its regular quarterly dividend by 8.8% to $1.60 per share, equivalent to an annualized payment of $6.40 per share.