Philip Morris CFO sees full-year earnings in middle or lower half of forecast range

The company raised its 2026 adjusted EPS range to $8.29 to $8.44 after third-quarter results reported this week.

Philip Morris International's chief financial officer says full-year adjusted earnings per share are likely to land in the middle or lower half of the company's forecast range of $8.29 to $8.44.

The comment follows third-quarter results in which adjusted diluted EPS rose 5.4% to $2.36, above the average analyst estimate of $2.30, according to the company's earnings release. Net revenue rose 5.5%, or 7.1% on an organic basis, to $11.4 billion, which GuruFocus reported was above the consensus estimate of $11.34 billion. Reported diluted EPS, which includes one-off items, fell 4.9% to $2.12, and net earnings attributable to shareholders came to $3.31 billion. Operating income rose 14.1%, or 10.5% organically.

The full-year range was raised alongside those results, though the company's release described the update as being made "for currency only."

The CFO's tone lands just days after that range was raised, even though third-quarter revenue and adjusted earnings both came in above Wall Street estimates. With no share buybacks planned for 2026, Philip Morris has less room to offset any further slippage in earnings, which makes the guidance comments a more direct signal of underlying demand than the raised range itself suggested.