Filing Flows › Philip Morris International (PM) › Guidance history
Philip Morris International (PM) guidance history: what it guided and what it reported
Philip Morris International gave guidance in 12 earnings releases on file since Feb 8, 2024. Its releases raised guidance 7 times and lowered it 0 times.
Adjusted tax rate
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 21.5% (Feb 6, 2026) → reaffirmed 21.5% (Apr 22, 2026) → reaffirmed 21.5% (Jul 22, 2026) → reaffirmed 21.5% (Oct 21, 2026) | — | to be reported | — |
| FY2025 | 22.5%–23.5% (Feb 6, 2025) → reaffirmed 22.5%–23.5% (Apr 23, 2025) → lowered 22.0%–23.0% (Jul 22, 2025) → lowered 22.0% (Oct 21, 2025) | — | — | — |
| FY2024 | 21.0%–22.0% (Feb 8, 2024) → reaffirmed 21.0%–22.0% (Apr 23, 2024) → reaffirmed 21.0%–22.0% (Jul 23, 2024) → reaffirmed 21.0%–22.0% (Oct 22, 2024) | — | — | — |
Operating cash flow
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $13.5B (Feb 6, 2026) → reaffirmed $13.5B (Apr 22, 2026) → reaffirmed $13.5B (Jul 22, 2026) → reaffirmed $13.5B (Oct 21, 2026) | — | to be reported | — |
| FY2025 | $11.0B (Feb 6, 2025) → reaffirmed $11.0B (Apr 23, 2025) → raised $11.5B (Jul 22, 2025) → reaffirmed $11.5B (Oct 21, 2025) | $12.2B (GAAP) | not judged | — |
| FY2024 | $10.0B–$11.0B (Feb 8, 2024) → reaffirmed $10.0B–$11.0B (Apr 23, 2024) → raised $11.0B (Jul 23, 2024) → reaffirmed $11.0B (Oct 22, 2024) | $12.2B (GAAP) | not judged | — |
Capital expenditures
The GAAP figure from the filings is shown for each period reported; it is not judged against the guide, which may leave items out (one-off payments, acquisitions).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $1.4B–$1.6B (Feb 6, 2026) → reaffirmed $1.4B–$1.6B (Apr 22, 2026) → reaffirmed $1.4B–$1.6B (Jul 22, 2026) → reaffirmed $1.4B–$1.6B (Oct 21, 2026) | — | to be reported | — |
| FY2025 | $1.5B (Feb 6, 2025) → reaffirmed $1.5B (Apr 23, 2025) → raised $1.6B (Jul 22, 2025) → reaffirmed $1.6B (Oct 21, 2025) | $1.6B (GAAP) | not judged | — |
| FY2024 | $1.2B (Feb 8, 2024) → reaffirmed $1.2B (Apr 23, 2024) → raised $1.3B–$1.4B (Jul 23, 2024) → raised $1.4B (Oct 22, 2024) | $1.4B (GAAP) | not judged | — |
GAAP EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $7.56–$7.71 (Apr 22, 2026) | — | to be reported | — |
| FY2025 | $6.55–$6.68 (Feb 6, 2025) → raised $7.01–$7.14 (Apr 23, 2025) → raised $7.24–$7.37 (Jul 22, 2025) → raised $7.39–$7.49 (Oct 21, 2025) | — | — | — |
| FY2024 | $5.70–$5.82 (Apr 23, 2024) → raised $5.89–$6.01 (Jul 23, 2024) → raised $6.20–$6.26 (Oct 22, 2024) | — | — | — |
Adjusted EPS
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q3 2026 | $2.20–$2.25 (Jul 22, 2026) | — | — | — |
| Q2 2026 | $2.02–$2.07 (Apr 22, 2026) | — | — | — |
| FY2026 | $8.36–$8.51 (Apr 22, 2026) | — | to be reported | — |
| Q1 2026 | $1.80–$1.85 (Feb 6, 2026) | — | — | — |
| Q3 2025 | $2.08–$2.13 (Jul 22, 2025) | — | — | — |
| Q2 2025 | $1.80–$1.85 (Apr 23, 2025) | — | — | — |
| Q1 2025 | $1.58–$1.63 (Feb 6, 2025) | — | — | — |
| Q3 2024 | $1.77–$1.82 (Jul 23, 2024) | — | — | — |
| Q2 2024 | $1.50–$1.55 (Apr 23, 2024) | — | — | — |
| Q1 2024 | $1.37–$1.42 (Feb 8, 2024) | — | — | — |
The latest quarter
Philip Morris International, Q3 2026: revenue $11.4B (+6% year over year), operating margin 42.5%, net earnings $3.3B, operating cash flow $5.4B. The chart follows the revenue to costs, profit and cash.
Questions
Does Philip Morris International beat its guidance?
Philip Morris International gave guidance in 12 earnings releases on file since Feb 8, 2024. Its releases raised guidance 7 times and lowered it 0 times.
How often does Philip Morris International raise guidance?
Its earnings releases raised guidance 7 times and lowered it 0 times since Feb 8, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.