Philip Morris International Inc. (PM)

Philip Morris International beat expectations on both the top and bottom line in the second fiscal quarter of 2026, reported July 22 based on preliminary results, as adjusted EPS of $2.20 topped the $2.05 estimate by 7.3% and revenue of about $11.2 billion exceeded the $10.6 billion consensus by 5.6%. Revenue rose about 10% from $10.14 billion a year earlier, while gross margin held near 68% and operating margin was around 41%. Net income came in at about $2.8 billion, down about 7% from $3.04 billion a year ago, even as adjusted EPS increased about 15% from $1.91. The company generated about $5.5 billion in operating cash flow and paid about $2.3 billion in dividends. For the next period, consensus calls for EPS of $2.38 on revenue of $11.23 billion.