Tobacco
Price
$182.53
-1.96%Market Cap
$284.49B
Day High
$185.97
Day Low
$182.23
PM delivered Q2 FY2026 revenue growth of 10.4% and operating-income growth of 22.0%, led by pricing and smoke-free products, but reported net income and diluted EPS fell 7.3% and 7.7%, respectively, largely reflecting a $511M non-cash RBH investment impairment. Source: 10-Q Item 2 MD&A, pp.45-46, 52-53.
Key risk: Earnings are exposed to impairments and investment-value movements
Q2 FY2026 net income declined 7.3% to $2.8B despite higher operating income. The period included a $511M non-cash impairment related to the RBH equity investment, illustrating that investment valuations can materially affect reported earnings.
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