Philip Morris International IncNYSE: PM
Consumer Staples · Tobacco
$166.92
+1.12%
Vol: 2.9M
Research Digest
Friday, May 1, 2026
Philip Morris reports Q1 mixed results with $10.36B revenue inline but EPS miss at $1.69 vs estimates, while expanding smoke-free product focus
Philip Morris International reported Q1 2026 revenue of $10.36B, broadly inline with expectations, but adjusted EPS of $1.69 came slightly below consensus. The company is focused on expanding its smoke-free portfolio (Zyn, IQOS) to offset cigarette volume declines and maintain growth as traditional products face regulatory pressures. CEO Jacek Olczak sold 80,000 shares in February, raising some investor concerns. Fifth Third Bancorp increased its stake by 2.1% in Q4. Stock trades at $166.25 with 23.25 P/E and 3.5% dividend yield.
Previous Market Intelligence
13 daysApr 30Philip Morris prices $1.5B senior notes and reports Q1 earnings with 7% stock surge despite guidance trimmed for higher input costsPositive▶
Philip Morris International issued $1.5B in senior unsecured notes ($750M 4.125% due 2029, $750M 4.875% due 2036) on April 29 for general corporate needs and refinancing. PM shares surged 7% following Q1 earnings call where international business strength offset US sales weakness. The company flagged limited Middle East tension disruption but trimmed full-year outlook due to elevated input and transport costs. PM trades at $162.98 with 3.5% dividend yield and 23.36 P/E ratio. Stock has risen 37% year-to-date and 24% past quarter following Q3 earnings. Analysts maintain buy ratings citing 2026 growth prospects, smoke-free product leadership, and attractive valuation despite cost headwinds.
Apr 29Philip Morris Shines on ZYN Momentum and Smoke-Free Growth; Dividend Yield 3.7%-3.8%Positive▶
Philip Morris reported revenue of $10.36B in line with expectations, though adjusted operating income and EPS of $1.69 slightly missed. Smoke-free products now 41.5% of revenues with 43M+ legal-age consumers globally. ZYN nicotine pouches hit milestone with 800M+ cans shipped annually, capturing 70%+ US market share and growing double-digit. PM announced 8.9% dividend hike (largest in decade); current yield 3.7%-3.8% on $5.88 annual. Stock up 5.57% weekly; 17 of 9 analysts rate Strong Buy with $189.78 PT (15.6% upside). Expanded Ducati partnership for brand growth.
Apr 16Philip Morris faces FDA scrutiny on ZYN nicotine pouches but maintains 70% US market share; Q1 earnings due April 22Mixed▶
Philip Morris International faces heightened FDA scrutiny of ZYN nicotine pouches amid youth access concerns, though ZYN US shipments grew 37% in 2025 to 794 million cans and hold 70% market share. The company will report Q1 2026 earnings on April 22, with expected EPS of $1.82 representing 7.7% YoY growth. Stifel lowered its price target from $200 to $195 on April 10. PMI transition to smoke-free products is driving superior growth, with anticipated organic revenue increases of 6-8% over the next two years.
Apr 15Philip Morris International announced FDA scrutiny over ZYN nicotine pouches while maintaining smoke-free growth momentum with 37% YTD stock appreciationMixed▶
Philip Morris faces heightened FDA scrutiny of ZYN nicotine pouches including delays around ZYN Ultra application. Company announced $50 million Tampa business solutions center investment. PMI stock risen 37% YTD. Company filed WARN letter regarding Richmond VA office closure with 135 job cuts.
Apr 14Philip Morris maintains Buy consensus; Stifel lowers PT to $195; dividend of $1.47 paidNeutral▶
Quarterly dividend of $1.47 payable April 13. Stifel maintained Buy but lowered PT from $200 to $195. Positioned for 6-8% organic revenue growth.
Apr 13Q1 2026 earnings set for April 22; FDA scrutiny of ZYN Ultra continuesMixed▶
PMI reports Q1 earnings April 22 with consensus EPS of $1.82. FDA delays ZYN Ultra approval due to youth safety concerns despite strong ZYN growth (37% shipment growth in 2025, 70% market share). Company declared $1.47 quarterly dividend. Regulatory headwinds offset transformation momentum.
Apr 10Philip Morris gains 2.19% as earnings approach; FDA delays on ZYN Ultra threaten smoke-free growth.Neutral▶
Philip Morris stock closed up $3.45 (+2.19%). Company faces FDA regulatory challenges on nicotine pouches as ZYN Ultra application stuck in pilot program. ZYN U.S. shipments grew 37% in 2025 to 794M cans with 70% market share. Q1 2026 earnings scheduled April 22. Company restructured into three segments effective January 2026. Dividend of $1.47/share paid April 13.
Apr 9Philip Morris reaffirms 2026 EPS guidance amid smoke-free product momentum.Neutral▶
Philip Morris reaffirmed 2026 full-year reported diluted EPS forecast of $7.87-$8.02 (adjusted $8.38-$8.53, 11.1%-13.1% growth). Smoke-free revenues reached $16.9B (41.5% of total). Company announced $50M investment in Tampa Business Solutions Center. Facing nicotine pouch FDA review delays and shareholder scrutiny. Average analyst rating: Strong Buy with 12-month target of $188.22.
Apr 8Philip Morris declares $1.47 quarterly dividend; Q1 earnings April 22; smoke-free revenue grew 12%.Neutral▶
Philip Morris International declared regular quarterly dividend of $1.47 payable April 13. Q1 2026 earnings April 22 with adjusted EPS consensus $1.82. Smoke-free revenue grew 12.0% to $4.354B (41.5% of total). FDA scrutiny on nicotine pouches remains concern. Median price target $202.50 from 25 analysts.
Apr 7Philip Morris reaffirms 2026 EPS forecast of $7.87-$8.02 on smoke-free growth momentumPositive▶
PMI achieved fifth consecutive year of volume growth with net revenues exceeding $40B in 2025, including $17B from smoke-free products. The company reaffirmed its 2026 full-year reported diluted EPS forecast of $7.87-$8.02, with adjusted diluted EPS guidance of $8.38-$8.53 representing 11.1%-13.1% growth. An organizational restructuring effective January 1, 2026 created three new reportable segments. PMI granted $150K to California Asian Pacific Chamber of Commerce on March 4. 2026 annual meeting scheduled for May 6.
Apr 6Philip Morris releases Value Report 2025; smoke-free now 41.5% of revenues; Barclays raises PT to $205.Neutral▶
Philip Morris released Value Report 2025 showing smoke-free products account for 41.5% of 2025 revenues with 43M legal-age users. Shareholder advocacy group As You Sow filed proposal urging cleanup cost risk disclosure (May 6 annual meeting). Barclays raised PT to $205 from $180.
Apr 3Philip Morris stock drops 4.64% week-over-week as FDA delays nicotine pouch review; Value Report 2025 highlights smoke-free transition.Negative▶
Philip Morris stock fell 4.64% over the past week amid delayed FDA review of nicotine pouches. PM released Value Report 2025 outlining updated smoke-free priorities with smoke-free products representing 41.5% of 2025 revenues, used by 43 million consumers in 105+ markets. The company declared a quarterly dividend of $1.47 per share. Q1 earnings showed revenue of $10.36 billion but adjusted operating income and EPS of $1.69 missed estimates.
Apr 1Philip Morris International declares $1.47 quarterly dividend with April 13 payment date; smoke-free products represent 41.5% of 2025 revenue.Neutral▶
Philip Morris International declared a regular quarterly dividend of $1.47 per share, payable April 13, 2026. Smoke-free products are used by over 43 million legal-age consumers as of December 2025, representing 41.5% of full year 2025 net revenues and sold in over 105 markets. PMI has invested $16B since 2008 in smoke-free R&D and commercialization. The company is holding its 2026 annual shareholder meeting on May 6, 2026.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| PMPHILIP | $166.92 | +1.12% | +3.0% | 18.1x | 0.45 | $257.3B |
| MOALTRIA | $74.30 | +2.27% | +9.2% | 12.5x | 0.45 | $121.5B |
| WMTWALMART | $131.84 | -0.07% | +4.0% | 40.2x | 0.66 | $1.05T |
| COSTCOSTCO | $1,012.70 | -0.18% | -0.4% | 45.1x | 0.98 | $450.1B |
| PGPROCTER | $147.58 | +0.33% | +3.0% | 20.7x | 0.40 | $342.5B |
| KOCOCA | $78.69 | -0.10% | +2.0% | 22.7x | 0.36 | $338.9B |
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