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Philip Morris International PM Q1 2026 earnings

Reported April 22, 2026 · Before market open

Revenue$10.1BBeat by $192.9M
EPS$1.96Beat by $0.10
Revenue estimate$10.0B
EPS estimate$1.86

Next report

Oct 21, 2026 (In 2 weeks)
Revenue estimate$11.3B
EPS estimate$2.30

Financials

Q1 2026

Income statement

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Revenue$10.1B+9.1%
Gross profit$6.9B+10.3%
Operating income$3.9B+9.8%
Net income$2.4B-9.4%
EPS (diluted)$1.56-9.3%

Balance sheet

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Cash & equivalents$5.5B+22.2%
Total debt$52.0B+4.8%
Total equity-$9.3B+14.9%
Total assets$68.9B+5.9%

Cash flow

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Operating cash flow-$399.0M-14.0%
CapEx$353.0M-12.6%
Free cash flow-$752.0M+0.3%

Valuation & ratios

Valuation

as of 03/31/26
See full
Market cap$257.69B+4.3%
Enterprise value$304.25B+4.1%
P/E23.2×-7.0×
P/S6.2×-0.2×

Profitability

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Gross margin67.3%+1.6pp
Operating margin36.7%+0.5pp
Net margin26.7%+5.4pp
FCF margin25.7%-0.9pp

Returns & leverage

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Current ratio1×+0.2×

Segments

By segment

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International Combustibles$5.7B—
International Smoke-Free$3.8B—

By product

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Combustible Tobacco Products$5.8B+6.7%
Smoke-Free Products$4.4B+12.4%

FAQ

When did Philip Morris International report Q1 2026 earnings?
Philip Morris International (PM) reported Q1 2026 earnings on April 22, 2026 before market open.
What were Philip Morris International's Q1 2026 revenue and EPS?
Philip Morris International reported revenue of $10.1B and eps of $1.96 for Q1 2026.
Did Philip Morris International beat estimates in Q1 2026?
Revenue beat the consensus estimate of $10.0B by $192.9M. EPS beat the consensus estimate of $1.86 by $0.10.
How did Philip Morris International's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.1% from $9.3B a year earlier and eps grew 16.0% from $1.69.
Where can I find Philip Morris International's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001628280-26-026385) and the 10-Q periodic report (0001628280-26-027019) directly on SEC EDGAR. The filing index links above go to sec.gov.