Philip Morris Q2 net revenues rise 10.4% to $11.2 billion; reported EPS falls 7.7% on charge
Philip Morris International reported second-quarter 2026 net revenues up 10.4% to $11.2 billion, with adjusted diluted EPS up 15.2% to $2.20. Reported diluted EPS fell 7.7% to $1.80 after a $511 million non-cash impairment of its RBH equity investment, and the full-year adjusted EPS forecast of $8.26 to $8.41 was updated only for currency. Shareholders see strong operating growth overshadowed by the reported loss-driven decline and the impairment charge.
Key points
- Q2 net revenues rose 10.4% (7.6% organically) to $11.2 billion; smoke-free revenues rose 11.7%.
- Reported diluted EPS was $1.80, down 7.7%, after a $511 million RBH impairment equal to 33 cents per share.
- Adjusted diluted EPS rose 15.2% to $2.20, or 13.6% excluding a 3 cent favorable currency impact.
- 2026 reported diluted EPS forecast is $7.19 to $7.34; adjusted EPS forecast is $8.26 to $8.41, with currency benefit lowered to $0.15 from $0.20.
The filing
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 July 22, 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.