Philip Morris International (NYSE:PM) Updates Q3 2026 Earnings Guidance

Key Points

• Philip Morris raised its Q3 2026 EPS guidance to $2.29–$2.34, above the analyst consensus estimate of $2.25.
• The company lifted its full-year 2026 adjusted EPS outlook to $8.35–$8.50, driven primarily by favorable currency effects rather than improved underlying operations.
• Analyst sentiment remains positive, with 10 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $205.89; expansion of the ZYN nicotine-pouch portfolio and FDA authorization for 11 products provide additional growth potential.

Philip Morris International (NYSE:PM - Get Free Report) updated its third quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.290-2.340 for the period, compared to the consensus EPS estimate of 2.250. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PM shares. BTIG Research set a $221.00 target price on Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. UBS Group raised their target price on shares of Philip Morris International from $168.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Morgan Stanley increased their target price on Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Needham & Company LLC increased their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Barclays increased their target price on Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average price target of $205.89.

Philip Morris International Stock Performance

Shares of PM stock opened at $185.71 on Thursday. Philip Morris International has a fifty-two week low of $142.11 and a fifty-two week high of $207.76. The stock's 50-day simple moving average is $188.25 and its 200-day simple moving average is $178.77. The firm has a market capitalization of $289.45 billion, a PE ratio of 26.68, a P/E/G ratio of 2.37 and a beta of 0.37.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.15. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The firm had revenue of $11.19 billion for the quarter, compared to analysts' expectations of $10.60 billion. During the same quarter last year, the company earned $1.89 EPS. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Sell-side analysts forecast that Philip Morris International will post 8.39 earnings per share for the current year.

Key Headlines Impacting Philip Morris International

Here are the key news stories impacting Philip Morris International this week:

• Positive Sentiment: Higher 2026 earnings outlook: Philip Morris raised its 2026 adjusted diluted EPS forecast to $8.35-$8.50, with the increase attributed to currency tailwinds rather than a change to its underlying operational outlook. The guidance supports investor confidence and is above the company’s previous expectations. Philip Morris Raises 2026 Earnings Guidance Amid Currency Tailwinds
• Positive Sentiment: ZYN portfolio expansion: PMI’s U.S. business is broadening ZYN with new 1.5 mg and 8 mg strengths, the higher-moisture ZYN ULTRA line, additional flavors and formats, and more pouches per can. The expanded range could attract more legal-age adult nicotine consumers and support volume growth. PMI U.S. Expands ZYN Portfolio to Offer Adults More Smoke-Free Choices
• Positive Sentiment: Regulatory support for nicotine pouches: FDA authorization for 11 ZYN products, including higher-strength ZYN ULTRA offerings, strengthens PMI’s position in the fast-growing U.S. nicotine-pouch market and provides a foundation for scaling production after substantial manufacturing investments. FDA Authorization Expands Philip Morris’s Zyn Bet, Can It Pay Off?
• Neutral Sentiment: Execution remains important: The ZYN rollout is strategically favorable, but the earnings benefit will depend on consumer adoption, manufacturing capacity and the company’s ability to convert product expansion into sustainable sales and profit growth.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PM. Bank of America Corp DE raised its stake in shares of Philip Morris International by 4.0% during the fourth quarter. Bank of America Corp DE now owns 15,383,248 shares of the company's stock valued at $2,467,473,000 after purchasing an additional 594,867 shares in the last quarter. Northern Trust Corp raised its stake in shares of Philip Morris International by 2.8% in the 3rd quarter. Northern Trust Corp now owns 14,701,879 shares of the company's stock worth $2,384,645,000 after buying an additional 401,381 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Philip Morris International by 12.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,161,027 shares of the company's stock valued at $2,271,430,000 after buying an additional 1,569,685 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Philip Morris International by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,338,069 shares of the company's stock valued at $2,139,869,000 after buying an additional 191,257 shares in the last quarter. Finally, Boston Partners raised its position in Philip Morris International by 12.7% in the third quarter. Boston Partners now owns 7,019,625 shares of the company's stock worth $1,136,402,000 after acquiring an additional 791,681 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Company Profile

Philip Morris International Inc is a global tobacco and nicotine company headquartered in Stamford, Connecticut. The company develops, manufactures and markets cigarettes, smoke-free products, nicotine products and related consumer offerings in markets around the world.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M and Chesterfield. PMI is also expanding beyond traditional cigarettes through heated-tobacco products, including IQOS, e-vapor products such as VEEV, and oral nicotine products including ZYN, which became part of the company's portfolio following its acquisition of Swedish Match.

Philip Morris International was established as an independent company in 2008 after being separated from Altria Group, whose U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.