Philip Morris (DE:4I1)
XETRA:4I1
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Earnings Data
Report Date
Jul 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.79Last Year’s EPS
1.63Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a predominantly positive operational and financial performance driven by strong pricing power, significant international smoke-free momentum (IQOS, ZYN, VEEV), margin expansion and robust EPS growth. Notable challenges were concentrated in the U.S. (ZYN shipment normalization and promotional/comparative dynamics), temporary timing effects (Japan pantry loading, Nordic timing), regional regulatory and excise headwinds, and a near-term slowdown in total shipments. Overall the positives — clear smoke-free growth, pricing, margin gains, strong cash generation and reconfirmed guidance with an upgraded reported EPS outlook — materially outweigh the near-term and localized headwinds.Company Guidance
Strong Top-Line and Revenue Growth
Net revenues exceeded $10 billion, up +9.1% reported and +2.7% organic for Q1 2026, outperforming expectations despite tough prior-year comparisons.
Robust Profitability and EPS Expansion
Adjusted gross profit rose +10% to $6.9 billion (organic +3.8%) with +70 bps organic gross margin expansion. Adjusted operating income increased +10% to $4.2 billion (close to +1% organic). Adjusted diluted EPS grew +16% to $1.96 (including a $0.18 currency tailwind).
Exceptional International Smoke-Free Performance
International smoke-free delivered standout results: volume +11.9%, net revenue +15.8%, gross profit +19.4%, and gross margin expansion of 210 basis points to 70%. IQOS drove ~+10.9% adjusted in-market sales growth.
Smoke-Free Category Momentum and Scale
Global smoke-free: organic net revenue +5.3% and organic gross profit +3.9%. Smoke-free shipments increased +9.1%; HTUs rose +11% to 41.3 billion units; e-vapor shipments grew +95%. In-market smoke-free product sales volume increased +11%.
Strong Pricing and Mix Contribution
Pricing was the largest top-line driver, contributing +5 percentage points (combustible pricing +8.5%, international smoke repricing +2.9%). Smoke-free mix added +2.7 points; currency added +6.4 points to reported net revenue growth.
Operating Leverage, Margin Expansion and Cost Efficiencies
Adjusted operating income margin expanded by +40 basis points to over 41%. Company realized approximately $150 million of gross cost efficiency in Q1 and remains on track for full-year organic margin expansion.
Market Share and Launch Successes
IQOS reached record adjusted market share in Japan of 34.9%; Taiwan launch showed rapid adoption (national exit share ~6%, Taipei ~8% in March). VEEV became joint #1 in Europe (Q4 '25) and shipments exceeded 1 billion units for the quarter.
Reconfirmed and Upgraded FY26 Guidance (Reported EPS Tailwind)
Reconfirmed currency-neutral guidance: organic net revenue growth +5% to +7%, organic operating income growth +7% to +9%, currency-neutral adjusted diluted EPS +7.5% to +9.5%. At prevailing rates forecast updated adjusted diluted EPS of $8.36–$8.51 (reported +10.9% to +12.9%) with an expected $0.25 currency tailwind.
Sustainability and Governance Progress
Published value report 2025 and Value Plan 2030; highlighted progress on smoke-free expansion, underage access prevention, carbon neutrality in direct operations, eliminating systemic child labor in tobacco supply chain and anti-littering initiatives.
DE:4I1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:4I1 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 22, 2026 | €133.30 | €139.62 | +4.74% |
Feb 06, 2026 | €152.49 | €153.09 | +0.39% |
Oct 21, 2025 | €132.81 | €123.66 | -6.89% |
Jul 22, 2025 | €149.85 | €137.50 | -8.25% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Philip Morris (DE:4I1) report earnings?
Philip Morris (DE:4I1) is schdueled to report earning on Jul 28, 2026, Before Open (Confirmed).
What is Philip Morris (DE:4I1) earnings time?
Philip Morris (DE:4I1) earnings time is at Jul 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Philip Morris stock?
The P/E ratio of Philip Morris is N/A.
What is DE:4I1 EPS forecast?
DE:4I1 EPS forecast for the fiscal quarter 2026 (Q2) is 1.79.
