Philip Morris International reported second-quarter earnings and revenue that beat analyst expectations, but shares edged lower after the company issued third-quarter earnings guidance that fell well below consensus. Adjusted earnings per share came in at $2.20, surpassing the $2.03 consensus, while revenue of $11.2 billion exceeded the $10.6 billion estimate, marking the first time quarterly net revenues topped $11 billion. For the third quarter, the company expects adjusted EPS between $2.20 and $2.25, with the midpoint of $2.225 significantly missing the analyst consensus of $2.43. The smoke-free business drove growth with revenue up 11.7%, and total shipment volume increased 2.5% led by a 7.5% rise in smoke-free products. Philip Morris maintained its full-year 2026 adjusted EPS forecast of $8.26 to $8.41, representing growth of 9.5% to 11.5% versus 2025.
Philip Morris International IncQ3 guidance midpoint of $2.225 missed consensus of $2.43, causing shares to fall despite Q2 beat.