Philip Morris International Inc. (PMI) has updated its financial outlook for the full year of 2026, raising its diluted earnings per share (EPS) forecast. The company now expects reported diluted EPS to be between $7.28 and $7.43 for the year.
The updated forecast reflects currency-only performance. When excluding a total 2026 adjustment of $1.07 per share, PMI projects adjusted diluted EPS to range from $8.35 to $8.50. This adjusted range represents a projected increase of 10.7% to 12.7% compared to the $7.54 adjusted diluted EPS reported in 2025.
Excluding the impact of currency fluctuations, which PMI estimates at $0.24 per share, the adjusted diluted EPS forecast remains between $8.11 and $8.26. This currency-neutral range indicates growth of 7.5% to 9.5% over the prior year.
The company has also updated its forecast for the third quarter of 2026. The adjusted diluted EPS forecast for the quarter, excluding currency, is now projected to be between $2.29 and $2.34. This update includes an estimated 1 cent favorable currency impact, a shift from the previous projection of an 8 cent unfavorable impact.
All other forecast assumptions remain consistent with those communicated on July 22, 2026. PMI notes that the projections are subject to various risks and uncertainties, including regulatory changes, competitive pressures, and economic factors.
