PM · 10-Q · 2026Q3

Philip Morris International Inc.

Filed 2026-10-23 · Consumer · View original filing on EDGAR

Ranked Events

• 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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,…
• 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…
• 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…
• 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…
• 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…

Revenue by Product (in millions)