Loading...
•
Sep 30, 2025
Philip Morris Q3 2025 Earnings Report
Philip Morris reported record smoke-free profits and raised full-year guidance.
Key Takeaways
Philip Morris delivered strong Q3 2025 results, driven by growth in its smoke-free product portfolio, which accounted for over 42% of total gross profit. The company raised its full-year adjusted EPS forecast.
Adjusted EPS rose to $2.24, a 17.3% increase from the previous year
Smoke-free products accounted for 41% of net revenue and over 42% of gross profit
Total revenue increased to $10.8 billion, driven by strong smoke-free performance
Net income reached $2.23 billion, supported by a 16.7% increase in operating income
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Philip Morris raised its 2025 full-year adjusted EPS guidance, reflecting confidence in its smoke-free transformation and continued strong performance.
Positive Outlook
- Raised full-year adjusted EPS guidance to $7.46–$7.56
- Strong growth expected in smoke-free product volumes (12%–14%)
- Organic net revenue growth projected at 6%–8%
- Operating cash flow expected to exceed $11.5 billion
- Further margin expansion expected in core markets
Challenges Ahead
- No share repurchases planned for 2025
- Continued investment pressure from U.S. expansion
- Unfavorable price variance in U.S. due to ZYN promotions
- Cigarette volumes expected to decline by ~2%
- Impact from restructuring and amortization charges expected
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...