Philip Morris Updates 2026 EPS Guidance, Cites Currency and $500M Impairment Charge

Philip Morris International has updated its full-year 2026 reported diluted EPS forecast primarily due to unfavorable currency effects and a significant non-cash impairment charge. The company's underlying operational forecast remains unchanged, reaffirming its adjusted diluted EPS growth expectations. The announcement was made in conjunction with the CEO's presentation at the 2026 dbAccess Global Consumer Conference.

Key Details

• Updated 2026 Forecast: The full-year reported diluted EPS forecast is now in the range of $7.18 to $7.33.
• Impairment Charge: The company expects to record a non-cash impairment charge of approximately $500 million, or $0.33 per diluted share, in Q2 2026. This relates to the reduced fair value of its investment in its deconsolidated Canadian affiliate, RBH.
• Operational Outlook: The forecast for adjusted diluted EPS, excluding currency and other items, remains unchanged, projecting growth of 7.5% to 9.5%.
• Product Update: The company announced the U.S. launch of ZYN ULTRA nicotine pouches in June, expanding its portfolio with a new moist variant at a lower price-per-pouch.