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AI brief of an SEC Form 8-K · Philip Morris International (PM)

PMI cuts 2026 reported EPS forecast to $7.18-$7.33 on about $500 million RBH impairment

Mixed Impact 4 of 5 guidance Written later

PMI said it will record a non-cash impairment of about $500 million on its RBH equity investment in the second quarter of 2026, after RBH's updated five-year plan lowered the estimated fair value of the stake. The impairment and a currency effect reduce the reported 2026 diluted EPS forecast to $7.18 to $7.33, while the adjusted EPS forecast of $8.31 to $8.46 still represents 10.2% to 12.2% growth over 2025.

Key points

  • Reported 2026 diluted EPS forecast is $7.18 to $7.33, including a total 2026 adjustment of $1.13 per share.
  • Non-cash impairment of RBH equity investment of about $500 million, or 33 cents of diluted EPS, expected in Q2 2026.
  • Adjusted 2026 diluted EPS forecast of $8.31 to $8.46 vs. $7.54 in 2025; RBH remaining carrying value expected below $100 million.
  • Q2 2026 adjusted diluted EPS forecast for currency is $1.97 to $2.02, including an estimated 3-cent unfavorable currency impact.

The filing

CompanyPhilip Morris International (PM)
Form8-K, current report
Filed with the SECJun 2, 2026, 6:05 AM ET
Accession number0001628280-26-039666

Items reported: 7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:16 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 02, 2026.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.