Philip Morris International (NYSE:PM) Announces Quarterly Earnings Results

Key Points

• Philip Morris International beat quarterly expectations with adjusted EPS of $2.20 versus the $2.04 consensus, and revenue of $11.19 billion topped forecasts of $10.61 billion.
• The company said growth in its international business and the U.S. Zyn portfolio helped drive sales, highlighting continued momentum in smoke-free and next-generation products.
• Management raised its Q3 2026 guidance to EPS of $2.20 to $2.25, even as the stock traded down 2.4% and analysts maintained a consensus Moderate Buy rating with a $197 average target price.

Philip Morris International (NYSE:PM - Get Free Report) posted its earnings results on Wednesday. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.04 by $0.16, FiscalAI reports. Philip Morris International had a negative return on equity of 142.02% and a net margin of 11.61%.The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.61 billion. Philip Morris International updated its Q3 2026 guidance to 2.200-2.25 EPS.

Philip Morris International Trading Down 2.4%

Shares of PM opened at $188.03 on Wednesday. The firm's fifty day simple moving average is $182.60 and its two-hundred day simple moving average is $174.88. Philip Morris International has a 12 month low of $142.11 and a 12 month high of $194.90. The stock has a market capitalization of $293.06 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.27 and a beta of 0.38.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were issued a $1.47 dividend. The ex-dividend date was Thursday, June 25th. This represents a $5.88 annualized dividend and a yield of 3.1%. Philip Morris International's payout ratio is presently 82.70%.

Institutional Investors Weigh In On Philip Morris International

Several institutional investors and hedge funds have recently made changes to their positions in PM. Resurgent Financial Advisors LLC raised its holdings in Philip Morris International by 3.7% in the 4th quarter. Resurgent Financial Advisors LLC now owns 1,523 shares of the company's stock valued at $244,000 after buying an additional 54 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in Philip Morris International by 0.3% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 18,344 shares of the company's stock worth $2,942,000 after buying an additional 56 shares during the period. Aristotle Capital Management LLC increased its position in shares of Philip Morris International by 4.4% during the fourth quarter. Aristotle Capital Management LLC now owns 1,384 shares of the company's stock valued at $222,000 after acquiring an additional 58 shares during the last quarter. Nia Impact Advisors LLC increased its position in shares of Philip Morris International by 4.2% during the second quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company's stock valued at $287,000 after acquiring an additional 63 shares during the last quarter. Finally, Sand Hill Global Advisors LLC raised its stake in shares of Philip Morris International by 3.5% in the 4th quarter. Sand Hill Global Advisors LLC now owns 1,855 shares of the company's stock valued at $298,000 after acquiring an additional 63 shares during the period. Institutional investors own 78.63% of the company's stock.

Philip Morris International News Roundup

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

• Positive Sentiment: Philip Morris posted second-quarter adjusted EPS of $2.20, ahead of the $2.04 consensus, and revenue of $11.19 billion versus $10.61 billion expected, signaling solid operational execution. Philip Morris International Reports 2026 Second-Quarter & First Six-Months Results and Updates 2026 Full-Year Adjusted Diluted EPS Forecast for Currency Only;
• Positive Sentiment: The company said international business growth and the U.S. Zyn portfolio boosted sales, suggesting continued momentum in smoke-free and next-generation products. Philip Morris Sales Boosted by Growth in International Business
• Positive Sentiment: Management updated third-quarter guidance to EPS of $2.20 to $2.25, reinforcing confidence in near-term earnings power and dividend support. Philip Morris (PM) Q2 Earnings: What To Expect
• Neutral Sentiment: Some commentary focused on whether Philip Morris can sustain its dividend momentum, which is important for income investors but does not directly change the company’s operating outlook. Can Philip Morris International NYSE: PM Sustain Its Dividend Momentum?
• Neutral Sentiment: One market note said the stock underperformed peers on Tuesday, but this appears to be a relative trading comment rather than a new fundamental development. Philip Morris International Inc. stock underperforms Tuesday when compared to competitors
• Negative Sentiment: Although the quarter beat expectations, reported diluted EPS fell 7.7% to $1.80, and the third-quarter guide came in below the market’s EPS estimate, which could weigh on sentiment. Philip Morris International Reports 2026 Second-Quarter & First Six-Months Results and Updates 2026 Full-Year Adjusted Diluted EPS Forecast for Currency Only;

Analysts Set New Price Targets

Several equities research analysts recently commented on PM shares. Bank of America reiterated a "buy" rating on shares of Philip Morris International in a research report on Thursday, May 21st. UBS Group lifted their price target on shares of Philip Morris International from $168.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Needham & Company LLC restated a "buy" rating and issued a $200.00 price objective on shares of Philip Morris International in a report on Thursday, April 23rd. Finally, Stifel Nicolaus lowered their target price on Philip Morris International from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Friday, April 10th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $197.00.

Philip Morris International Company Profile

Philip Morris International Inc NYSE: PM is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI's product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

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