Philip Morris International raised its 2026 full-year reported diluted EPS forecast to a range of $7.28 to $7.43, up from a prior range that was not restated in the release but now reflects currency only. On an adjusted basis, the company now expects diluted EPS of $8.35 to $8.50, versus $7.54 in 2025, implying growth of 10.7% to 12.7%.
Excluding currency, PMI now sees adjusted diluted EPS of $8.11 to $8.26, compared with $7.54 last year, for growth of 7.5% to 9.5%. The company said the currency benefit embedded in the outlook is now $0.24 per share, up from $0.15 previously.
For the third quarter, PMI updated its adjusted diluted EPS forecast to $2.29 to $2.34, and said the currency impact is now expected to be a favorable 1 cent per share, compared with an earlier estimate of an 8-cent unfavorable impact.
The 2026 adjusted EPS forecast includes $1.07 per share of total adjustments, led by a $0.50 amortization of intangibles charge, a $0.33 non-cash impairment of the RBH equity investment, and $0.16 from fair value adjustments for equity investments. Other items include $0.06 tied to Swedish Match financing, $0.03 of restructuring charges, and a $0.01 benefit from an Egypt sales tax settlement adjustment.
In 2025, PMI reported adjusted diluted EPS of $7.54, and total adjustments of $0.28 per share. As a result of these announcements, the company's shares have moved 1.03% on the market, and are now trading at a price of $184.42. For more information, read the company's full 8-K submission here.
