Philip Morris Records Charge Related to Canadian Affiliate
Dow Jones
Jul 22
0831 ET - Philip Morris International records an impairment charge from an equity investment in its Canadian affiliate. The tobacco company took a $511 million non-cash impairment charge in 2Q after affiliate RBH updated its five-year financial projections to reflect "current industry dynamics," Philip Morris says in its quarterly filing. As a result of the new projections, Philip Morris decided the estimated fair value of its investment in RBH was lower than its carrying value, and recorded the charge. The impairment charge translates to 33 cents of diluted EPS. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
July 22, 2026 08:31 ET (12:31 GMT)
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