Philip Morris International Inc. — Form 8-K
Filed July 22, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 38/100
What the filing says
Philip Morris reported Q2 2026 net revenues of $11.2B (up 10.4% reported, 7.6% organic), with adjusted diluted EPS of $2.20 (up 15.2%, or 13.6% excluding 3¢ currency benefit). Smoke-free products reached 42% of revenues; IQOS gained 0.2pp to 9.2% industry share. A non-cash $511M impairment of RBH equity investment reduced reported EPS to $1.80. Company maintained full-year adjusted EPS guidance of $8.26–$8.41 (9.5–11.5% growth excluding currency).
Why this rating
Solid Q2 execution with organic revenue growth and strong smoke-free momentum; however, RBH impairment is material (~0.18% of market cap), and U.S. segment weakness (-0.9% organic) tempers outlook. Revenue and earnings growth rates ordinary for scale.
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