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Philip Morris beats Q2 results, trims full-year EPS guidance
The company reported Q2 revenue of $11.19 billion and adjusted EPS of $2.20, while reaffirming organic revenue growth of 5% to 7%.
Philip Morris International topped Q2 2026 revenue and adjusted earnings expectations, supported by strength in its smoke-free portfolio and improved performance in legacy nicotine products, MarketBeat Ratings reports. The company reported revenue of $11.19 billion versus $10.61 billion expected, and adjusted EPS of $2.20 versus the $2.04 estimate.
The outlet also notes that PM trimmed its full-year and current-quarter adjusted EPS outlook, guiding adjusted EPS between $8.26 and $8.41 per share. That range is down 10 cents from its prior guidance at both ends, though it still represents a 7.5% year-over-year increase at the low end, according to MarketBeat Ratings.
PM reiterated its outlook for organic revenue growth of 5% to 7%. MarketBeat Ratings adds that international smoke-free net revenue grew 13.7% organically in the first half, with gross profit up 16.9% and gross margin expanding 190 basis points to 70%.
The report also highlights that international combustible gross profit grew 6.1% organically in the first half, with pricing power accounting for 9.2% of that growth. IQOS was described as the anchor of the smoke-free push, sold in 80 markets, with growth tied to products outside the company’s portfolio a decade ago.