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Philip Morris International PM Q3 2026 earnings

Reported October 21, 2026 · Before market open

Revenue$11.4BBeat by $120.6M
EPS$2.36Beat by $0.06
Revenue estimate$11.3B
EPS estimate$2.30
“We delivered another excellent quarter, with growing total volumes, double-digit organic operating income growth and robust margin expansion. With continued strong offtake momentum for our smoke-free brands and the exceptional results of our combustible business, we are in a strong position to continue delivering best-in-class performance, and firmly on track for a sixth consecutive year of volume growth.”
Jacek Olczak

Next report

Date not yet announced

Financials

Q3 2026

Income statement

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Revenue$11.4B+5.5%
Gross profit$7.9B+6.7%
Operating income$4.9B+14.1%
Net income$3.3B-4.7%
EPS (diluted)$2.12-4.9%

Balance sheet

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Cash & equivalents$6.7B+64.6%
Total debt$44.3B-11.6%
Total equity-$7.9B+27.3%
Total assets$66.7B-0.5%

Cash flow

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Operating cash flow$5.4B+19.9%
CapEx$382.0M+4.7%
Free cash flow$5.0B+21.3%

Valuation & ratios

Valuation

as of 10/30/26
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Market cap$324.97B+43.2%
Enterprise value$362.62B+32.8%
P/E30.4×+5.7×
P/S7.5×+1.9×

Profitability

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Gross margin67.7%+0.8pp
Operating margin38.6%+1.7pp
Net margin24.8%+1.8pp
FCF margin31.5%+6.2pp

Returns & leverage

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Current ratio1×+0.2×

Segments

By segment

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International Combustibles$6.7B—
International Smoke-Free$3.9B—

By product

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Combustible Tobacco Products$6.8B+6.4%
Smoke-Free Products$4.6B+4.0%

FAQ

When did Philip Morris International report Q3 2026 earnings?
Philip Morris International (PM) reported Q3 2026 earnings on October 21, 2026 before market open.
What were Philip Morris International's Q3 2026 revenue and EPS?
Philip Morris International reported revenue of $11.4B and eps of $2.36 for Q3 2026.
Did Philip Morris International beat estimates in Q3 2026?
Revenue beat the consensus estimate of $11.3B by $120.6M. EPS beat the consensus estimate of $2.30 by $0.06.
Where can I find Philip Morris International's Q3 2026 SEC filings?
You can read the 8-K earnings release (0001628280-26-066596) and the 10-Q periodic report (0001628280-26-066976) directly on SEC EDGAR. The filing index links above go to sec.gov.