$PM · Philip Morris International Inc.
PMI filed its 10-Q for Q3 FY2026, reporting net revenues of $11.438B, up 5.5% from $10.845B. Diluted EPS fell to $2.12 from $2.23, with net earnings attributable to PMI of $3.313B versus $3.478B. Nine-month results included a $511M impairment related to the RBH equity investment, cutting PMI-attributable net earnings to $8.568B from $9.207B.
- Q3 net revenues rose 5.5% to $11.438B from $10.845B.
- Q3 diluted EPS fell to $2.12 from $2.23.
- Q3 operating income increased to $4.866B from $4.263B.
- Nine-month results include a $511M RBH equity investment impairment.
- Nine-month PMI-attributable net earnings fell to $8.568B from $9.207B.
PMI's extended-hours last trade was $201.03, down 0.35% from the $201.74 regular close. The small after-hours move suggests limited surprise despite the EPS decline.
Strong smoke-free and operating-income growth was offset by an equity-investment impairment, leaving EPS lower despite higher revenue.
Total smoke-free revenue reached $4.625B in Q3, up from $4.445B, led by U.S. ZYN revenue of $758M versus $605M.
The $511M RBH equity investment impairment reflects valuation downside in PMI's equity portfolio and directly reduced nine-month earnings.
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