Philip Morris International (NYSE:PM) Q4 2025 Earnings call February 06, 2026 09:00 AM ET Company ParticipantsEmmanuel Babeau - CFOEric Serotta - Executive Director for US Beverages, Tobacco, and Household ProductsJacek Olczak - Group CEOJames Bushnell - VP of Investor Relations and Financial CommunicationConference Call ParticipantsBonnie Herzog - Managing Director and Veteran AnalystDamian McNeela - Director and Senior Analyst of Consumer StaplesFaham Baig - Global Tobacco Analyst and Executive DirectorGe ...

Philip Morris International (NYSE:PM) Q4 2025 Earnings call February 06, 2026 09:00 AM ET Company ParticipantsEmmanuel Babeau - CFOJacek Olczak - Group CEOJames Bushnell - VP of Investor Relations and Financial CommunicationConference Call ParticipantsGerald Pascarelli - Senior Analyst of Beverages, Tobacco, and CannabisMatt Smith - Senior Analyst of Consumer StaplesOperatorday and thank you for standing by. Welcome to the Philip Morris International, Inc., 2025 fourth quarter results conference call. At th ...

Financial Data and Key Metrics Changes - In 2025, total net revenues exceeded $40 billion, with 41.5% or nearly $17 billion generated from smoke-free products [8][11] - Adjusted diluted EPS grew by 15% in dollar terms, marking the strongest growth since 2011, excluding the pandemic recovery year of 2021 [5][11] - Organic top-line growth was +6.5%, with adjusted operating income growth at +10.6%, reflecting +140 basis points of organic margin expansion [11][12] Business Line Data and Key Metrics Changes - Smoke-free product volumes grew by 12.8%, with organic smoke-free gross profit growth of 18.7% [3][12] - IQOS shipments grew by approximately 11%, with a notable acceleration in the fourth quarter [3][15] - ZYN shipments in the U.S. increased by 37%, contributing significantly to smoke-free product growth [5][14] Market Data and Key Metrics Changes - The international business generated the majority of total PMI organic net revenue growth, with smoke-free products leading the way [5][19] - In Japan, the heat-not-burn category surpassed 50% of total industry volumes, driven by IQOS [25][26] - The U.S. market for nicotine pouches saw ZYN capturing around 50% of category growth, with a volume share of 61.5% [30][22] Company Strategy and Development Direction - The company continues to focus on a multi-category strategy, expanding its smoke-free product offerings and geographic reach [4][9] - There is a strong emphasis on innovation and digitalization to support long-term growth [9][43] - The company targets a leverage ratio of close to 2x by the end of 2026, indicating a focus on financial flexibility and shareholder returns [7][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong growth despite transitory headwinds, with a forecast of 5%-7% organic net revenue growth for 2026 [36][37] - The company anticipates continued strong cash generation, with operating cash flow projected at around $13.5 billion [38][43] - Management highlighted the importance of navigating regulatory environments and enhancing brand equity for future growth [32][33] Other Important Information - The company achieved a historic high share for Marlboro, reaching 11% of the international category, excluding China [34][5] - The number of legal-age consumers of smoke-free products reached an estimated 43.5 million, reflecting broad-based growth across categories [20][19] - The company is committed to delivering superior shareholder value, with a target dividend payout ratio of around 75% of adjusted diluted EPS [44][45] Q&A Session Summary Question: Can you expand on the reacceleration in smoke-free volume growth compared to the 2026 growth guidance? - Management indicated that the acceleration is expected due to tax changes in Japan and competitive dynamics in the U.S. market [49][50] Question: How are you thinking in terms of IQOS, HTU shipments, and IMS for 2026? - Management noted that while Japan faces challenges, other markets like Italy and Germany are showing strong growth, contributing positively to IQOS's outlook [58][62] Question: What are the key growth drivers for the upcoming year? - Management emphasized the importance of ZYN and IQOS, along with ongoing investments in marketing and innovation, as key drivers for growth [72][75]

Philip Morris (PM) came out with quarterly earnings of $1.7 per share, beating the Zacks Consensus Estimate of $1.67 per share. This compares to earnings of $1.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +2.04%. A quarter ago, it was expected that this seller of Marlboro and other cigarette brands would post earnings of $2.1 per share when it actually produced earnings of $2.24, delivering a surprise of +6.67%.Over the ...

2025 Fourth-Quarter and Full-Year Results February 6, 2026 Introduction • A glossary of terms as well as adjustments, other calculations and reconciliations to the most directly comparable U.S. GAAP measures for non-GAAP financial measures cited in this presentation are available in Exhibit 99.2 to the company's Form 8-K dated February 6, 2026 and on our Investor Relations website with additional non- GAAP reconciliations available at the end of this presentation 2 Forward-Looking and Cautionary Statements ...

Group 1 - The company reported higher profit and revenue in the fourth quarter [1] - The company forecasts continued growth for years to come [1]

The cigarette and Zyn nicotine pouch maker reports softer-than-expected revenue, dragging down shares. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33708 PHILIP MORRIS INTERNATIONAL INC. (Exact name of registrant as specified in its charter) Virginia 13-3435103 (State or other jurisdiction ...

Financial Performance - Total net revenues for 2025 reached $30 billion, representing a 5% organic growth year-over-year[6] - Total PMI revenues for 2025 were $40,648 million, representing a 7.3% increase from $37,878 million in 2024[25] - The company reported a significant increase in Net Earnings for 2025, totaling $11,848 million, up 57.9% from $7,503 million in 2024[64] - Net earnings attributable to PMI for 2025 reached $2,141 million, compared to a loss of $(579) million in 2024, resulting in a net earnings for basic and diluted EPS of $11,316 million in 2025, up from $7,034 million in 2024[17] - Basic Earnings Per Share for 2025 was $7.27, a 60.5% increase from $4.53 in 2024[64] - 2025 diluted EPS increased to $1.37, a 100% change from $(0.38) in 2024, with a yearly increase to $7.26 from $4.52, representing a 60.6% growth[19] Revenue Breakdown - Total smoke-free net revenues for 2025 were $4,354 million, a 12.0% increase from $3,887 million in 2024, with significant growth in SSEA, CIS & MEA at 33.2%[22] - Total net revenues for combustible tobacco reached $23,794 million in 2025, a 2.5% increase from $23,218 million in 2024[25] - Total net revenues for smoke-free products amounted to $16,854 million in 2025, reflecting a 15.0% growth compared to $14,660 million in 2024[25] - Total combustible tobacco net revenues for 2025 were $6,008 million, a 3.2% increase from $5,819 million in 2024, with Europe showing a 6.5% growth[22] Operating Income and Margins - The adjusted operating income margin for 2025 was 40%, up from 38% in 2024, indicating improved operational efficiency[6] - Total reported operating income for 2025 was $14,892 million, an increase of 11.1% compared to $13,402 million in 2024[53] - Adjusted operating income for 2025 reached $3,129 million, reflecting an 8.6% increase year-over-year[56] - Adjusted operating income excluding currency and acquisitions/divestitures for the total PMI was $16,243 million, an increase of 10.6% from $14,688 million in 2024[53] Product Performance - The number of total IQOS users increased to 20 million, with a 15% growth in user adoption compared to 2024[11] - PMI's e-Vapor product line saw a 25% increase in sales volume, contributing significantly to overall revenue growth[12] - The wellness segment within smoke-free products saw a decline of 17.2% in net revenues, dropping to $72 million from $87 million in 2024[22] - The company plans to launch three new smoke-free products in 2026, aiming to capture an additional 5% market share in the smoke-free segment[9] Debt and Financial Position - The company reported a net debt of $15 billion, with a debt-to-equity ratio of 1.2, indicating a stable financial position[6] - Total Debt as of December 31, 2025, was $48,835 million, up from $45,695 million in 2024[70] - Net Debt at the end of 2025 was $43,963 million, an increase from $41,479 million in 2024[70] Future Outlook - The company anticipates adjusted earnings per share (EPS) to grow by 8% in 2026, driven by continued expansion in smoke-free product offerings[8] - The company plans to continue expanding its smoke-free product offerings, with a focus on increasing market share in emerging markets[22] - The company anticipates continued growth in smoke-free product revenues, driven by increased market penetration and product innovation[25] Regional Performance - The SSEA, CIS & MEA region reported a significant operating income increase of 19.5%, reaching $4,096 million in 2025 compared to $3,429 million in 2024[36] - In Europe, reported operating income for 2025 was $7,165 million, up 9.4% from $6,547 million in 2024[53] - The Americas region saw a decline in operating income, dropping to $505 million in 2025, a decrease of 7.8% from $548 million in 2024[36] Adjusted Financial Metrics - Adjusted EBITDA for 2025 was $17,375 million, compared to $15,580 million in 2024, indicating a strong growth trajectory[70] - Adjusted gross profit for smoke-free products increased by 19.9% to $11,688 million in 2025, compared to $9,719 million in 2024[33] - Total adjusted gross profit for PMI in 2025 was $27,282 million, an 11.0% increase from $24,549 million in 2024[33]

Philip Morris International Inc. (NYSE:PM) will release earnings for its fourth quarter before the opening bell on Friday, Feb. 6.Analysts expect the company to report quarterly earnings of $1.70 per share, compared to $1.55 per share in the year-ago period. The consensus estimate for Philip Morris' quarterly revenue is $10.4 billion (it reported $9.71 billion last year), according to Benzinga Pro.On Jan. 23, Philip Morris urged a key U.S. regulator to back a modified-risk label for its ZYN nicotine pouches ...