PM · Consumer

Philip Morris International Inc.

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: everything published this earnings window

News · 2026-11-07

• Revenue Performance and MixImportance 58 · Surprise 42
  PMI reported USD 16.9 billion in net revenues from smoke-free products in 2025, exceeding the stated materiality threshold. Its smoke-free products were used by 43.5 million adults globally. The 2025 Value Report…
• Strategic Smoke-Free TransformationImportance 58 · Surprise 42
  Philip Morris International released its 2025 Value Report, describing progress against its 2025 Roadmap and introducing its Value Plan 2030+. The report says 43.5 million adults globally used PMI smoke-free products…
• Smoke-Free Product DemandImportance 50 · Surprise 24
  PMI’s 2025 Value Report says 43.5 million adults globally used its smoke-free products. Those products generated USD 16.9 billion in net revenues in 2025, indicating substantial consumer adoption of the smoke-free…

News · 2026-11-04

• Quarterly Dividend DeclarationImportance 20 · Surprise 24
  Philip Morris International increased its quarterly dividend to $1.60 per share, according to MarketBeat. The digest does not state the previous dividend or the percentage increase. It also does not provide the…

News · 2026-11-03

• Quarterly Dividend DeclarationImportance 37 · Surprise 42
  Philip Morris International increased its quarterly dividend to $1.60 per share. The report provides no prior dividend amount or effective payment date. It does not state the aggregate cost of the dividend increase.
• Quarterly Earnings PerformanceImportance 6 · Surprise 6
  Philip Morris International reported quarterly revenue of $11.44 billion. Quarterly EPS was $2.36. The article says the company beat earnings estimates, but provides no revenue growth rate, segment breakdown, or margin…

News · 2026-10-31

• Quarterly Dividend DeclarationImportance 34 · Surprise 42
  Philip Morris increased its quarterly dividend to $1.60 per share. The reported dividend yield was 3.1%. The digest does not state the previous dividend amount or the effective payment date.
• Quarterly Earnings PerformanceImportance 20 · Surprise 24
  Philip Morris reported quarterly revenue of $11.44 billion and EPS of $2.36. Both revenue and EPS exceeded analyst expectations, according to the reports. The digest provides no year-over-year or sequential comparison…

News · 2026-10-30

• Quarterly Dividend DeclarationImportance 13 · Surprise 6
  Philip Morris International increased its quarterly dividend in Q3 2026, according to the digest. The increase followed 18 consecutive years of dividend increases. The dividend yield was reported at 3.07% on October…

10-Q · 2026-10-23

• Operating Cash Flow TrendsImportance 69 · Surprise 56
  Net cash provided by operating activities was $10.445 billion in the first nine months of 2026, up from $7.524 billion in the same period of 2025. Excluding favorable currency movements, the $2.8 billion favorable…
• Quarterly Dividend DeclarationImportance 69 · Surprise 50
  PMI paid $6.9 billion in dividends during the first nine months of 2026. In the third quarter of 2026, the Board approved an 8.8% increase in the quarterly dividend to $1.60 per common share. The resulting annualized…
• Liquidity and Cash PositionImportance 64 · Surprise 56
  Cash and cash equivalents were $6.7 billion at September 30, 2026, up from $4.9 billion at December 31, 2025. Most cash was held by foreign subsidiaries, including $3.1 billion in Russia at September 30, 2026, compared…
• Smoke-Free Product DemandImportance 63 · Surprise 64
  For the nine months ended September 30, 2026, smoke-free shipment volume increased 6.4% to 143.4 billion equivalent units, led by heated tobacco units (up 6.7%) and e-vapor (up 68.1%); oral smoke-free volume declined…
• U.S. ZYN Investment and Portfolio ExpansionImportance 61 · Surprise 66
  PMI plans to increase U.S. ZYN brand investment in the fourth quarter of 2026 as distribution of its extended product range progresses, including expanded consumer communications through the “When It Clicks” campaign.…
• Capital Expenditure ProgramImportance 60 · Surprise 24
  Capital expenditures in 2026 were primarily related to ongoing investments in smoke-free product manufacturing capacity. PMI expected total 2026 capital expenditures of $1.4 billion to $1.6 billion, predominantly…
• Equity Investment Fair ValueImportance 57 · Surprise 64
  Equity investments and securities recorded a net loss of $330 million in the first nine months of 2026, compared with net income of $926 million in 2025. The $1.256 billion year-over-year swing was primarily caused by…
• International Smoke-Free DemandImportance 57 · Surprise 64
  Outside Europe and Japan, adjusted IQOS market sales grew 12.7%, with offtake share gains in Riyadh, Kuala Lumpur, Mexico City, Jakarta and Taipei. International oral smoke-free volume increased 0.5% in the quarter as…
• Operating Income and MarginsImportance 54 · Surprise 40
  Nine-month operating income increased 15.4% to $13.289 billion, or 12.1% excluding currency and acquisitions/divestitures. The increase reflected gross-profit growth, lower restructuring charges in 2026, and the…
• Revenue Performance and MixImportance 53 · Surprise 48
  For the nine months ended September 30, 2026, net revenues rose 8.2% to $32.776 billion, including 5.9% growth excluding currency and acquisitions/divestitures; for the third quarter, revenue rose 5.5% to $11.438…
• Restructuring ChargesImportance 53 · Surprise 82
  For the nine months ended September 30, 2026, PMI recorded $34 million of pre-tax restructuring charges, or $27 million after tax and $0.02 per diluted share. The 2026 charges related to U.S. footprint optimization…
• U.S. Revenue and Margin TrendsImportance 53 · Surprise 48
  U.S. third-quarter net revenues increased 22.7%, both in total and excluding currency and acquisitions/divestitures, primarily reflecting 4.2% growth in ZYN shipments, favorable price comparisons against prior-year…
• Russia and Ukraine Conflict ExposureImportance 50 · Surprise 24
  At September 30, 2026, Russian operations had approximately $5.6 billion in assets, including about $3.1 billion of cash and cash equivalents held mostly in rubles; Russia accounted for around 7% of PMI’s net revenues…
• Russia and Ukraine Conflict ImpactImportance 50 · Surprise 24
  For the nine months ended September 30, 2026, Russian operations generated around 7% of PMI’s total net revenues and Ukrainian operations around 1%. PMI says Russian authorities impose complex conditions and approval…
• Outstanding IndebtednessImportance 49 · Surprise 32
  Total debt was $47.6 billion at September 30, 2026, down from $48.8 billion at December 31, 2025. PMI had $1.9 billion of commercial paper outstanding at September 30, 2026, versus none at year-end 2025; its average…
• UK Tobacco Sales BanImportance 47 · Surprise 60
  On April 29, 2026, the UK adopted a bill prohibiting sales of tobacco products, including heated tobacco products, to individuals born on or after January 1, 2009. The prohibition takes effect January 1, 2027, and the…
• FDA ZYN Modified Risk AuthorizationImportance 47 · Surprise 60
  In June 2026, the FDA found the modified-risk claim for all 20 ZYN nicotine pouch varieties scientifically accurate, understandable to consumers and beneficial to public health overall. The FDA authorized these…
• ZYN Ultra FDA AuthorizationImportance 47 · Surprise 60
  On August 21, 2026, the FDA authorized marketing of 11 ZYN ULTRA nicotine pouch products, including all 9 mg variants and one 11 mg variant. The FDA found that the new products, including the authorized 11 mg variant,…
• Gross Margin DriversImportance 42 · Surprise 14
  For the nine months ended September 30, 2026, gross profit increased 9.4% to $22.418 billion, and increased 7.1% excluding currency and acquisitions/divestitures. The nine-month increase reflected the same favorable…
• Operating Expense TrendsImportance 42 · Surprise 14
  Marketing, administration and research costs increased 4.2% to $8.831 billion for the nine months ended September 30, 2026, while the currency-neutral increase was 0.9%. The company attributed higher costs as a partial…
• Japan Excise Tax IncreaseImportance 40 · Surprise 42
  Japan adopted a multi-year tobacco excise-tax plan in March 2025. It harmonized heated tobacco product taxes with cigarette taxes in two steps, effective April 1 and October 1, 2026. The first harmonized increase to…
• Nicotine Product RegulationImportance 40 · Surprise 42
  On May 8, 2026, the FDA issued final guidance stating it does not intend to prioritize enforcement against certain unauthorized ENDS and nicotine pouch products that have demonstrated meaningful progress toward…
• ZYN Manufacturing CapacityImportance 38 · Surprise 24
  PMI identifies its ZYN production facilities in Kentucky and Colorado as especially important to supply continuity. Those facilities currently supply substantially all capacity for ZYN sales in the United States,…
• Income Tax Rate ChangesImportance 34 · Surprise 14
  PMI’s effective tax rate for the nine months ended September 30, 2026, increased 1.7 percentage points to 20.9%, and the company estimated a 2026 full-year rate of about 21.5%, excluding discrete tax events. The higher…
• EU Tobacco Excise DirectiveImportance 34 · Surprise 42
  In July 2025, the European Commission proposed revising the EU Tobacco Excise Directive, addressing minimum rates for combustible tobacco and extending the directive to heated tobacco, e-cigarettes and nicotine pouches…
• German Heated Tobacco TaxImportance 32 · Surprise 24
  Germany’s supplemental excise surcharge on heated tobacco products, effective since 2022, has negatively affected PMI’s International Smoke-Free net revenues, which reflect the surcharge as a reduction. The Court of…
• KT&G Smoke-Free PartnershipImportance 32 · Surprise 24
  PMI’s collaboration with KT&G, announced January 30, 2023, provides exclusive worldwide commercialization rights for KT&G smoke-free devices and consumables, excluding South Korea. The agreement runs for 15 years,…
• Geographic Market CommentaryImportance 31 · Surprise 32
  Third-quarter International Smoke-Free shipment volume increased 2.7% to 44.5 billion equivalent units, with growth across markets including Taiwan, Global Travel Retail, Greece, Germany and Bulgaria. In Japan, HTU…
• U.S. ZYN PerformanceImportance 31 · Surprise 32
  U.S. smoke-free shipment volume increased 2.3% in the third quarter, with oral smoke-free products also up 2.3% to 3.7 billion equivalent units. ZYN shipments rose 4.2% to 3.2 billion pouches despite a challenging…
• RBH Equity ImpairmentImportance 28 · Surprise 42
  In the second quarter of 2026, PMI recorded a non-cash $511 million impairment charge on its investment in RBH, reducing diluted EPS by $0.33. RBH’s May 2026 annual business plan provided updated five-year financial…
• Russia Business and Asset ExposureImportance 27 · Surprise 24
  Following Russia’s invasion of Ukraine, the U.S., EU, UK, Switzerland, Canada, Australia, New Zealand, Singapore, South Korea, Japan, and other jurisdictions imposed sanctions and export controls, including…
• Third-Party Distribution and SupplyImportance 26 · Surprise 24
  PMI increasingly relies on third parties and subcontractors for product distribution, some manufacturing, product parts—particularly electronic devices and accessories—and support services. This dependence reduces…
• Competition and Market ShareImportance 25 · Surprise 6
  PMI describes intense competition across its business, with competitive conditions influenced by competitors’ lower-priced and innovative products, consumer confidence, taxes, price gaps, and adult smokers’ willingness…
• Illicit TradeImportance 20 · Surprise 24
  PMI estimates that illicit trade, including counterfeit, contraband and illicit whites, may represent as much as 16% of global cigarette consumption excluding China and the U.S.; in the EU, it exceeded 10% of cigarette…
• Tobacco Supply Chain SourcingImportance 20 · Surprise 24
  PMI sources the vast majority of its tobacco through a global network of farmers across multiple countries rather than commodity markets, supporting supply consistency, quality, and traceability. The company says…
• Combustibles Market DemandImportance 19 · Surprise 24
  Consumption of tax-paid cigarettes continues to decline in many of PMI’s markets. The filing attributes the decline to increased taxes and pricing, diminishing social acceptance of smoking, health concerns,…
• Distribution Channels and PartnershipsImportance 13 · Surprise 6
  PMI uses a multiplatform commercialization approach tailored to individual markets, emphasizing retail experience, guided consumer trials, customer care, digital communications and e-commerce. Initial introductions…
• Consumer Preferences and Product InnovationImportance 13 · Surprise 6
  PMI identifies changing adult consumer preferences as a risk to its product offerings and customer base. Failure to assess market trends or adapt products could result in missed opportunities, supply-chain challenges,…

News · 2026-10-22

• ZYN Product Portfolio ExpansionImportance 60 · Surprise 74
  Philip Morris is moving ZYN to larger cans at the same price, reducing revenue per pouch by approximately 25%. ZYN nicotine pouch shipments continued to grow during the third quarter of 2026, indicating higher volume…
• ZYN Price ReductionImportance 60 · Surprise 74
  PM reportedly plans to provide larger ZYN cans at the same price, reducing revenue per pouch by approximately 25%. The change is expected to affect fourth-quarter operating income. The reported measure is tied to the…
• Guidance / OutlookImportance 40 · Surprise 42
  Third-quarter reporting indicated that Philip Morris maintained its full-year earnings guidance, while operating-income and earnings growth were expected to track toward the middle or lower ends of the projected…
• Middle East Conflict ImpactImportance 31 · Surprise 42
  Third-party reporting said escalating conflict in the Middle East was increasing PMI’s costs and creating near-term profitability pressure. The reported effects include disruption to distribution and supply-chain…
• Operating Income and MarginsImportance 25 · Surprise 32
  Third-quarter 2026 operating margin increased to 42.5% from 39.3% in the year-earlier quarter, a 320-basis-point expansion. Adjusted earnings excluding currency effects increased 5.8% year over year, compared with…
• Revenue Performance and MixImportance 24 · Surprise 14
  Philip Morris International reported third-quarter 2026 revenue of $11.44 billion, up 5.5% year over year and above analyst estimates of $11.32 billion to $11.41 billion. Adjusted earnings were $2.36 per share, up 5.4%…
• Russia and Ukraine Conflict ImpactImportance 17 · Surprise 24
  PM reportedly identified the war in Ukraine as an ongoing source of business disruption and earnings uncertainty. Reported effects include impacts on distribution, supply-chain planning and regulatory-risk management.…

Earnings call · 2026-10-21

• Argentina Regulatory Market EntryImportance 31 · Surprise 42
  Management said recent regulatory changes in Argentina were a positive step toward being able to enter the market next year. It described Argentina as one of a potential set of additional markets for heated tobacco,…
• Gross Margin DriversImportance 25 · Surprise 32
  Adjusted operating margin expanded 130 basis points organically in Q3 to almost 45%, and 60 basis points year-to-date. Gross margin expansion contributed 80 basis points in both periods, supported by pricing, favorable…
• Income Tax Rate ChangesImportance 21 · Surprise 32
  Q3 adjusted diluted EPS grew 5.4% to a quarterly record of $2.36, with the comparison affected by the unusually low tax rate in the prior-year quarter. Management estimated that this tax comparison reduced Q3 EPS…
• Operating Expense TrendsImportance 20 · Surprise 24
  SG&A increased organically by less than net revenue in Q3, benefiting from G&A productivity initiatives and a favorable comparison with prior-year combustible-related items, while international and U.S. smoke-free…
• International Smoke-Free Price MixImportance 18 · Surprise 14
  The analyst cited international smoke-free implied price mix of about 3.5% in the first half and about 70 basis points in the third quarter. The CFO said third-quarter IQOS revenue growth was affected by shipment…
• Supply Chain and InventoryImportance 17 · Surprise 24
  Management described PMI’s supply chain as resilient, with broadly sourced materials from around the world and contracts providing protection against cost and availability volatility. In heat-not-burn, shipment phasing…