PM
The smoke-free machine keeps humming
Philip Morris International said its second-quarter 2026 results were strong enough to push net revenues above $11 billion for the first time. That’s not exactly couch-cushion change; it suggests the company’s shift away from traditional cigarettes is still doing the heavy lifting.
Why investors care
The big headline isn’t just that the quarter looked good. It’s that PMI also updated its full-year adjusted diluted EPS forecast — and the move was tied to currency only. Translation: the operating story seems intact, but exchange rates are doing their usual moody-pop-star routine.
The real read-through
CEO Jacek Olczak said the company saw strong first-half momentum, especially in its smoke-free business. For shareholders, that matters because the market tends to reward evidence that PMI can keep growing while the old-school tobacco business slowly becomes less central to the plot.
Big picture
If you own PM, you’re basically watching a giant transformation story with dividends and nicotine. This update says the transformation is still on track — and in a market that loves consistency almost as much as growth, that’s a pretty decent combo.