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Compared to Estimates, Philip Morris (PM) Q2 Earnings: A Look at Key Metrics

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Philip Morris (PM - Free Report) reported $11.19 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 10.4%. EPS of $2.20 for the same period compares to $1.91 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $10.56 billion, representing a surprise of +6.03%. The company delivered an EPS surprise of +7.84%, with the consensus EPS estimate being $2.04.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Philip Morris performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Shipment Volume - Heated Tobacco Units (HTU): 41.8 billion versus 41.37 billion estimated by two analysts on average.
  • Shipment Volume - Smoke-Free - Total: 48.2 billion versus the two-analyst average estimate of 47.78 billion.
  • Shipment Volume - E-Vapor - total: 1.3 billion versus the two-analyst average estimate of 1.41 billion.
  • Shipment Volume - Oral Smoke-Free Products - Total: 5.1 billion versus the two-analyst average estimate of 5 billion.
  • Net Revenues- U.S.: $856 million compared to the $762.34 million average estimate based on two analysts.
  • Net Revenues- International Combustibles: $6.46 billion versus $5.97 billion estimated by two analysts on average.
  • Net Revenues- International Smoke-Free: $3.88 billion versus the two-analyst average estimate of $3.83 billion.

View all Key Company Metrics for Philip Morris here>>>

Shares of Philip Morris have returned +5.2% over the past month versus the Zacks S&P 500 composite's +0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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