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Philip Morris (PM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

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Philip Morris (PM - Free Report) reported $11.44 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 5.5%. EPS of $2.36 for the same period compares to $2.24 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $11.41 billion, representing a surprise of +0.26%. The company delivered an EPS surprise of +2.61%, with the consensus EPS estimate being $2.30.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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): 41.5 billion versus the two-analyst average estimate of 41.39 billion.
  • Shipment Volume - Smoke-Free - Total: 48.2 billion versus the two-analyst average estimate of 47.84 billion.
  • Shipment Volume - E-Vapor - total: 1.4 billion compared to the 1.37 billion average estimate based on two analysts.
  • Shipment Volume - Oral Smoke-Free Products - Total: 5.3 billion versus the two-analyst average estimate of 5.09 billion.
  • Net Revenues- U.S.: $845 million compared to the $788.29 million average estimate based on two analysts.
  • Net Revenues- International Combustibles: $6.73 billion compared to the $6.32 billion average estimate based on two analysts.
  • Net Revenues- International Smoke-Free: $3.87 billion versus the two-analyst average estimate of $4.04 billion.

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

Shares of Philip Morris have returned +5.1% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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