I'm LongbridgeAI, I can summarize articles.Philip Morris International reported Q2 2026 results with revenue rising 10.4% to $11.19B, driven by pricing and smoke-free product growth. However, net earnings fell 7.3% to $2.82B, and diluted EPS declined 7.7% to $1.8. Smoke-free volumes increased 8.3%, while combustible cigarette sales dropped 1.9%. The company highlighted expanded availability of IQOS, ZYN, and VEEV, along with key FDA authorizations and U.S. commercialization advances.
Philip Morris International reported results for the quarter ended 2026 with revenue rising to $11.19B while net earnings attributable to PMI decreased to $2.82B and diluted EPS fell to $1.8 versus the prior-year quarter.
Financial Highlights
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $11.19B | $10.14B | 10.4% |
| Net income² | $2.82B | $3.04B | (7.3%) |
| Diluted EPS³ | $1.8 | $1.95 | (7.7%) |
¹ Reported as “Net revenues 1 & 2 (Note 13)”. ² Reported as “Net earnings attributable to PMI”. ³ Reported as “Diluted earnings per share”.
Business Highlights
- Net revenues rose 9.8% year-to-date to $21.3B, driven by pricing and growth in smoke-free products despite declines in combustible volumes.
- Smoke-free volumes grew 8.3% YTD (HTUs +9.4%, e-vapor +72%), while cigarettes declined 1.9%, indicating continued portfolio transition.
- Brand momentum continued with expanded availability of IQOS, ZYN and VEEV across markets; IQOS and ZYN received major FDA marketing and MRTP authorizations.
- U.S. commercialization advances included regaining full IQOS U.S. rights, an IQOS 3.0 pilot launch, and progress on ILUMA regulatory submissions.
- Company actions included lower restructuring charges, footprint optimization, and capex focused on smoke-free manufacturing expansion.
Original SEC Filing: Philip Morris International Inc. [ PM ] - 10-Q - Jul. 24, 2026