Philip Morris International reported second-quarter 2026 net revenue of $11.2 billion, surpassing $10 billion for the first time in a single quarter, according to an SEC Form 8-K filing on the 22nd (local time).
📊 Price at Time of Writing (July 22, 2026, 11:01 PM KST)
$194.49 ▲ +3.43%
Q2 Results at a Glance
Both revenue and adjusted earnings beat market expectations this quarter. The company's smoke-free product segment (including IQOS) drove growth, accounting for roughly 42% of total revenue, while the traditional combustible cigarette business also grew steadily on the back of price increases.
- Net revenue: $11.2 billion, up 10.4% year-over-year
- Adjusted EPS: $2.20, up 15.2% year-over-year (+13.6% excluding currency effects)
- Reported EPS: $1.80, down 7.7% year-over-year (reflecting a non-cash impairment charge on its RBH equity investment)
- Operating income: up 22.0% year-over-year (dollar figure not disclosed)
Outlook
The company said it revised its full-year 2026 adjusted EPS guidance to reflect currency effects. Specific figures were not disclosed in the filing. Foreign media reported that the full-year profit outlook was lowered due to currency headwinds and rising costs. CEO Jacek Olczak said, 'We delivered an excellent second quarter and, following a strong first half, we are well-positioned to achieve our full-year targets.'
Market Reaction
Foreign media outlets noted that both revenue and earnings topped market expectations. However, outlets including Investing.com reported that shares briefly weakened right after the announcement as the lowered annual profit outlook, driven by currency effects, weighed on sentiment. As of 11:01 p.m. KST on July 22 — the time this article was written — Philip Morris shares stood at $194.49, up 3.43% from the previous close.
Segment Breakdown
- International Smoke-Free segment (including IQOS): net revenue up 14.2% year-over-year, shipment volume up 8.0% (dollar figures not disclosed)
- International Combustible (traditional cigarette) segment: net revenue up 9.8% year-over-year, shipment volume up 1.1% (dollar figures not disclosed)
- U.S. segment: net revenue down 0.7% year-over-year (dollar figure not disclosed)
This article was automatically generated based on the original SEC Form 8-K filing and foreign media reports, with the aim of quickly conveying key data immediately after the announcement. Readers are advised to review the company's official filing before making trading decisions. Stock prices reflect the time this article was written and may differ from current prices.
