Philip Morris International (PM) Quarterly Income Statement

Income Statement Summary

Philip Morris International (PM) quarterly income statement covering the six quarters from March 2025 to June 2026, as reported to the SEC.

Philip Morris International reported net revenues (Note 13) of $11.19B in the quarter ended June 30, 2026, up 10.4% from $10.14B a year earlier.
That is 10.3% higher than the March 2026 quarter.
Gross profit was $7.66B, up 11.5% from $6.87B. That is a gross margin of 68.4%.
Operating income was $4.53B, up 22% from $3.71B. Operating margin was 40.5%.
Net earnings were $2.82B, down 7.3% from $3.04B. Net margin was 25.2%.
Diluted earnings per share was $1.80, down 7.7% from $1.95.
Cost of sales (Note 1) took 31.6% of net revenues (Note 13).

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD millions, except per share data

						Jun'26	Mar'26	Dec'25	Sep'25	Jun'25	Mar'25
Revenues including excise taxes (includes $1,845 in 2023 and $1,629 in 2022 from related parties)
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues including excise taxes (includes $1,845 in 2023 and $1,629 in 2022 from related parties)						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Excise taxes on products
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Excise taxes on products						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net revenues (Note 13)
11,192	10,146	10,362	10,845	10,140	9,301	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net revenues (Note 13)						11,192	10,146	10,362	10,845	10,140	9,301	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales (Note 1)
3,533	3,241	3,574	3,487	3,274	3,031	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales (Note 1)						3,533	3,241	3,574	3,487	3,274	3,031	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
7,659	6,905	6,788	7,358	6,866	6,270	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						7,659	6,905	6,788	7,358	6,866	6,270	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Marketing, administration and research costs (Notes 1 & 15)
2,981	2,857	3,838	3,095	2,988	2,428	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Marketing, administration and research costs (Notes 1 & 15)						2,981	2,857	3,838	3,095	2,988	2,428	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Impairment of goodwill (Note 5)
-	-	-	-	41	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Impairment of goodwill (Note 5)						-	-	-	-	41	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Corporate expenses and other (Note 1)
148	155	-	-	125	298	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Corporate expenses and other (Note 1)						148	155	-	-	125	298	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Asset impairment and exit costs
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Asset impairment and exit costs						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of intangibles
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of intangibles						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income
4,530	3,893	3,373	4,263	3,712	3,544	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income						4,530	3,893	3,373	4,263	3,712	3,544	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense, net
-243	-237	-218	-230	-277	-241	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense, net						-243	-237	-218	-230	-277	-241	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense, net
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense, net						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Pension and other employee benefit costs
-5	-5	9	14	11	12	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Pension and other employee benefit costs						-5	-5	9	14	11	12	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes
4,292	3,661	3,146	4,019	3,424	3,291	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes						4,292	3,661	3,146	4,019	3,424	3,291	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for income taxes
955	676	675	751	652	659	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Provision for income taxes						955	676	675	751	652	659	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Impairment related to the RBH equity investment (Note 13)
511	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Impairment related to the RBH equity investment (Note 13)						511	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity investments and securities (income)/loss, net
159	-403	-221	345	376	205	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity investments and securities (income)/loss, net						159	-403	-221	345	376	205	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings
2,985	2,582	2,250	3,613	3,148	2,837	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings						2,985	2,582	2,250	3,613	3,148	2,837	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to noncontrolling interests
168	144	109	135	109	147	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to noncontrolling interests						168	144	109	135	109	147	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to PMI
2,817	2,438	2,141	3,478	3,039	2,690	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to PMI						2,817	2,438	2,141	3,478	3,039	2,690	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Per share data (Note 7):
Basic earnings per share (in dollars per share)
1.80	1.56	1.37	2.23	1.95	1.72	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic earnings per share (in dollars per share)						1.80	1.56	1.37	2.23	1.95	1.72	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted earnings per share (in dollars per share)
1.80	1.56	1.36	2.23	1.95	1.72	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted earnings per share (in dollars per share)						1.80	1.56	1.36	2.23	1.95	1.72	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Dividends declared (in dollars per share)
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Dividends declared (in dollars per share)						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx