# Philip Morris Q3 EPS Hits $2.36 Record

> Philip Morris reports record Q3 adjusted EPS of $2.36 as smoke-free products now exceed 40% of revenue.
- Title: Philip Morris Q3 EPS Hits $2.36 Record · BigGo Finance
- Summary: Philip Morris reports record Q3 adjusted EPS of $2.36 as smoke-free products now exceed 40% of revenue. Philip Morris International reported Q3 adjusted…
- Keywords: philip morris, adjusted eps, smoke-free revenue, iqos, zyn, veev, marlboro, nyse pm, dividend, finance, markets, Philip
- Source: BigGo Finance — https://finance.biggo.com/news/eac1479a-d577-4e89-a69f-d0256d371844
- Author: BigGo Finance
- Published: 2026-10-21T13:35:15+00:00
- Read time: 1 min
- Topics: philip morris, q3, adjusted eps, smoke-free revenue, iqos, zyn, veev, marlboro, nyse pm, dividend, finance, markets
## Philip Morris Q3 Results
Philip Morris International reported third-quarter adjusted earnings of $2.36 per share, a single-quarter record and up 5.4% from a year earlier.
## Smoke-Free Revenue Milestone
Smoke-free products accounted for more than 40% of net revenue for the first time, with IQOS shipments up 1.5% and VEEV up 61.6%.
## Net Revenue Growth
Quarterly net revenue rose 5.5% to $11.4 billion, beating analyst estimates of $11.28 billion.
## Operating Performance
Operating income climbed 14.1% to $4.9 billion, with gross profit up 6.7% to $7.9 billion.
## Dividend Increase
The company raised its quarterly dividend 8.8% to $1.60 per share, or $6.40 annualized.
## Full-Year Outlook
Philip Morris kept its full-year adjusted EPS guidance of $8.29 to $8.44 but warned organic operating income growth may fall to middle or lower half of target range.
## Investor Reaction
Shares fell about 2.5% in premarket trading as investors focused on the company's full-year outlook and margin pressures.
## Key takeaway

Philip Morris International reported Q3 adjusted earnings of $2.36 per share, a record, with smoke-free products accounting for over 40% of net revenue.