Philip Morris International (NYSE:PM) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Philip Morris International (NYSE:PM) posted its quarterly earnings data on Wednesday. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.13, FiscalAI reports. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.95 billion. Philip Morris International had a net margin of 13.42% and a negative return on equity of 142.02%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.69 EPS. Philip Morris International updated its FY 2026 guidance to 8.360-8.510 EPS and its Q2 2026 guidance to 2.020-2.070 EPS.

Here are the key takeaways from Philip Morris International’s conference call:

• Strong quarter and upgraded dollar EPS view: Adjusted diluted EPS rose +16% to $1.96 and adjusted operating income grew +10%, and PMI reconfirmed its 2026 targets while updating adjusted diluted EPS to $8.36–$8.51 (includes ~$0.25 currency tailwind), reflecting better-than-expected top-line and margin performance.
• International smoke?free momentum: IQOS, VEEV and ZYN drove double?digit smoke?free volume growth (IQOS IMS +10.9%) and strong profitability (smoke?free gross margin ~70%), making smoke?free the primary growth engine for the company.
• U.S. ZYN execution and regulatory timing created near?term headwinds: ZYN offtake grew ~10% but shipments fell due to downstream inventory normalization and heavier promotional activity versus a low?promo prior year, while ZYN Ultra and other innovations remain subject to FDA review, delaying potential upside.
• Cigarette volumes pressured: Total cigarette volumes declined at the high end of expectations (industry and country excise changes—e.g., Mexico, India—contributed), creating a structural headwind despite pricing (+8.5%) offsetting much of the revenue impact.
• Outlook & risks: Management reconfirmed 2026 organic growth and margin targets but flagged macro uncertainty, excise/tax moves and localized disruptions (Middle East, Japan pantry loading) as variables to monitor, while continuing elevated H1 investment that should moderate in H2.

Philip Morris International Stock Up 3.3%

NYSE:PM opened at $169.39 on Friday. The firm has a market cap of $264.00 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.98 and a beta of 0.43. Philip Morris International has a 12 month low of $142.11 and a 12 month high of $191.30. The company’s 50-day moving average price is $169.73 and its two-hundred day moving average price is $163.85.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Thursday, March 19th were given a $1.47 dividend. The ex-dividend date was Thursday, March 19th. This represents a $5.88 dividend on an annualized basis and a yield of 3.5%. Philip Morris International’s payout ratio is 80.88%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $200.00 target price on shares of Philip Morris International in a research note on Thursday. Morgan Stanley lowered their target price on shares of Philip Morris International from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Citigroup upped their target price on shares of Philip Morris International from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. UBS Group lowered their target price on shares of Philip Morris International from $181.50 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.56.

Insider Transactions at Philip Morris International

In other Philip Morris International news, CFO Emmanuel Babeau sold 33,800 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $181.61, for a total value of $6,138,418.00. Following the transaction, the chief financial officer directly owned 164,463 shares in the company, valued at $29,868,125.43. The trade was a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacek Olczak sold 80,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $182.18, for a total transaction of $14,574,400.00. Following the completion of the transaction, the chief executive officer owned 632,344 shares in the company, valued at approximately $115,200,429.92. This trade represents a 11.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Philip Morris International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC boosted its position in Philip Morris International by 3.7% in the fourth quarter. Resurgent Financial Advisors LLC now owns 1,523 shares of the company’s stock valued at $244,000 after buying an additional 54 shares in the last quarter. Douglass Winthrop Advisors LLC boosted its position in Philip Morris International by 0.3% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 18,344 shares of the company’s stock valued at $2,942,000 after buying an additional 56 shares in the last quarter. Aristotle Capital Management LLC boosted its position in Philip Morris International by 4.4% in the fourth quarter. Aristotle Capital Management LLC now owns 1,384 shares of the company’s stock valued at $222,000 after buying an additional 58 shares in the last quarter. Nia Impact Advisors LLC boosted its position in Philip Morris International by 4.2% in the second quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock valued at $287,000 after buying an additional 63 shares in the last quarter. Finally, Sand Hill Global Advisors LLC increased its position in Philip Morris International by 3.5% in the 4th quarter. Sand Hill Global Advisors LLC now owns 1,855 shares of the company’s stock valued at $298,000 after acquiring an additional 63 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Philip Morris International

Here are the key news stories impacting Philip Morris International this week:

• Positive Sentiment: Q1 beat and smoke?free momentum: PM reported adjusted EPS of $1.96 and revenue of $10.15B (both above consensus); management highlighted strong international smoke?free product growth that helped offset U.S. headwinds. PM Q1 Deep Dive: International Smoke-Free Growth and Strong Pricing Offset U.S. Headwinds
• Positive Sentiment: Analyst support: Needham reaffirmed a “buy” rating and set a $200 price target, offering upside versus the current level and reinforcing investor confidence. Needham reaffirms buy, $200 PT
• Positive Sentiment: Brand/licensing expansion: PMI expanded its long?running Ducati Corse partnership so ZYN nicotine pouch branding will appear on select MotoGP liveries — marketing reach for its leading pouch brand. Philip Morris International Expands its Partnership with Ducati Corse as Decades-Long Partnership Races Forward with Purpose
• Neutral Sentiment: Guidance updated: PMI provided Q2 (2.020–2.070 EPS) and FY?2026 (8.360–8.510 EPS) ranges; FY is roughly in line with consensus but Q2 guidance is slightly below street expectations — a short?term headwind to estimates. Philip Morris International Reports 2026 First-Quarter Results and Updates 2026 Full-Year Adjusted Diluted EPS Forecast
• Negative Sentiment: Trimmed profit outlook and pouch uncertainty: Management cut its annual profit forecast signaling pressure from competition in nicotine pouches and regulatory uncertainty around ZYN, a factor that investors see as a material forward risk. Philip Morris cuts annual profit forecast
• Negative Sentiment: Illicit market / public policy risk in Canada: RBH (a PMI affiliate) is urging federal coordination after a KPMG report estimated large tax revenue losses from contraband tobacco in Canada — enforcement, taxes or policy responses could affect volumes or spark reputational/regulatory scrutiny. CANADA LOSING $2.1 BILLION IN TAX REVENUE SAYS KPMG REPORT

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.