NEW YORK CITY (dpa-AFX) - Philip Morris International Inc. (PM) reported that its third quarter net earnings attributable to PMI was $3.31 billion compared to $3.48 billion, a year ago. Reported diluted EPS of $2.12 declined by 4.9%, mainly due to the non-cash fair value adjustment for equity security investments. Adjusted EPS was $2.36 compared to $2.24, last year. Adjusted EPS, excluding currency, was $2.37 compared to $2.24. Net revenues increased by 5.5%, or 7.1% organically, to $11.4 billion. Shipments increased by 0.6% in the quarter, driven by a 2.7% increase in smoke-free products, with shipment growth across all categories.
For 2026, the company projects reported diluted EPS to be in a range of $7.11 to $7.26, at prevailing exchange rates. Adjusted Diluted EPS is projected in a range of $8.29 to $8.44. Excluding a total 2026 adjustment of $1.18 per share, the forecast represents a projected increase of 9.9% to 11.9% versus adjusted diluted EPS of $7.54 in 2025. Adjusted Diluted EPS, excluding currency, is expected in a range of $8.11 to $8.26. Excluding currency, the forecast represents a projected increase of 7.5% to 9.5% versus adjusted diluted EPS of $7.54 in 2025. Net revenue growth is anticipated in a range of 5% to 7% on an organic basis.
In pre-market trading on NYSE, Philip Morris shares are down 1.97 percent to $196.00.
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