NEW YORK CITY (dpa-AFX) - Philip Morris International, Inc. (PM) reported Wednesday that net earnings attributable to PMI for the second declined to $1.80 per share from $1.95 per share in the prior-year quarter.
Excluded items, adjusted earnings for the quarter were $2.20 per share, compared to $1.91 per share in the year-ago quarter. Excluding currency, adjusted earnings were $2.17 per share.
Net revenues for the quarter increased 10.4 percent to $11.19 billion from $10.14 billion in the same quarter last year. Organic revenue growth was 7.6 percent.
For the third quarter, the company expects adjusted earnings in a range of $2.20 to $2.25 per share.
For fiscal 2026, the company now projects earnings in a range of $7.19 to $7.34 per share and adjusted earnings in a range of $8.26 to $8.41 per share. Excluding a favorable currency impact of $0.15 per share, adjusted earnings is expected to grow at 7.5 to 9.5 percent to the range of $8.11 to $8.26 per share.
Previously, the company expected earnings in the range of $7.56 to $7.71 per share and adjusted earnings in the range of $8.36 to $8.51 per share. Excluding a favorable currency impact of $0.27 per share, adjusted earnings is expected to grow at 7.5 to 9.5 percent to the range of $8.11 to $8.26 per share.
In Wednesday's pre-market trading, PM is trading on the NYSE at $187.22, down $0.93 or 0.49 percent.
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