Earnings Guidance Beats Expectations
Philip Morris projected full-year adjusted earnings per share between $8.38 and $8.53 for 2026. Analysts had been looking for about $8.33, according to market data.
The stronger guidance reflects confidence that reduced-risk products, including nicotine pouches and heated tobacco, will keep expanding even as traditional cigarette demand declines.
Outlook for Tobacco Stocks
The company’s results highlight a broader shift within the tobacco industry, where growth increasingly depends on alternatives marketed as lower-risk options. Investors are expected to keep a close watch on U.S. pouch competition, regulatory approvals, and pricing strategies through the year.
With Zyn and IQOS carrying much of the momentum, Philip Morris is betting that its smoke-free portfolio will remain the main engine of earnings and help defend its lead in the global tobacco market.
