PM · News · 20261022N

Operating Income and Margins

Philip Morris International Inc. · 2026-10-22 · Importance 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 reported adjusted EPS growth of 5.4%. Near-term profitability is expected to face pressure from U.S. investment, the ZYN pricing action, and geopolitical cost pressures.

Key facts

• Philip Morris International's operating margin for Q3 2026 was 42.5%, up from 39.3% in the same quarter last year. source
• Philip Morris International posted quarterly adjusted earnings of $2.36 per share, which increased 5.4% year over year and beat the Zacks Consensus Estimate of $2.30 by 2.61%. source
• Excluding currency effects, Philip Morris International's adjusted earnings jumped 5.8% year over year in Q3 2026. source
• Philip Morris International reported adjusted earnings (EPS) of $2.36 per share for Q3 2026. source