Financial Data and Key Metrics Changes - In Q1 2025, the company reported double-digit increases in organic net revenue, operating income, and adjusted diluted EPS in both constant currency and dollar terms [6][11][12] - Organic net revenue growth was plus 10.2%, reaching $9.3 billion, with volume growth of plus 3.9% [12][14] - Adjusted diluted EPS grew by plus 17.3% in constant currency and by plus 12.7% in dollar terms to $1.69, despite a $0.07 unfavorable currency variance [14][59] Business Line Data and Key Metrics Changes - The smoke-free business saw shipment volumes increase by plus 14.4% year-on-year, with organic net revenue growth of plus 20% and organic gross profit growth of plus 33% [6][16] - IQOS delivered close to plus 10% HTU-adjusted IMS growth, with strong performance in Japan and Europe [7][11] - ZYN shipments increased by plus 53% to reach 202 million cans, exceeding initial expectations [8][43] Market Data and Key Metrics Changes - The international nicotine pouch can volumes grew by plus 53%, or plus 182% excluding the Nordics, indicating strong global demand [9][50] - In Europe, total shipments of IQOS advanced by plus 17.5% in Q1, with significant growth in markets like Spain, Germany, and Bulgaria [30][32] - The cigarette industry declined by 1.3% in Q1, with growth in markets where smoke-free products are not present, such as Turkey and India [54] Company Strategy and Development Direction - The company continues to deploy a multi-category strategy across markets, with smoke-free products now accounting for 44% of total gross profit [6][7] - The focus remains on expanding the smoke-free portfolio, with significant investments in brand building and product innovation [29][30] - The company aims to achieve double-digit growth for the rest of the year and has raised its shipment forecast for ZYN to 800 million to 840 million cans per year [12][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving another year of super growth despite uncertainties in the global economic outlook [11][59] - The company anticipates continued strong momentum from its smoke-free business and expects to mitigate potential supply chain challenges [57][65] - Management highlighted the importance of maintaining a progressive dividend policy while focusing on sustainable growth [65][66] Other Important Information - The company delivered over $180 million in gross cost savings in Q1, placing it on track to achieve a $2 billion target over 2024-2026 [27] - The company is committed to investing in U.S. manufacturing, with significant job creation expected as a result [49] Q&A Session Summary Question: ZYN out-of-stock issues and inventory rebuilding timeline - Management acknowledged ongoing out-of-stock issues and indicated that replenishment would occur gradually, with normalization expected by Q3 2025 [68][73] Question: Drivers of continued margin expansion - Management highlighted that smoke-free products are driving margin expansion, with a significant organic gross margin increase in Q1 [75][78] Question: Guidance outlook for the second half of the year - Management indicated that traditional differences between H1 and H2 could affect growth rates, but overall strong momentum is expected [85][89] Question: Unconstrained growth for ZYN - Management noted that while they cannot provide precise estimates for unconstrained demand, they expect consumer offtake to accelerate as supply constraints are lifted [100][102] Question: Net interest cost guidance for the year - Management did not provide specific guidance for net interest costs but indicated a positive start to the year [116][119]

Core Insights - Philip Morris International Inc. (PM) reported strong first-quarter 2025 results, with both revenue and earnings exceeding expectations, leading to a nearly 3.5% increase in share price during pre-market trading [1][2] - The company raised its adjusted earnings per share (EPS) guidance for 2025, reflecting positive momentum across various regions and product categories [1][11] Financial Performance - Adjusted EPS for the first quarter was $1.69, a 12.7% increase year over year, surpassing the Zacks Consensus Estimate of $1.61 [2] - Net revenues reached $9,301 million, up 5.8% on a reported basis and 10.2% on an organic basis, exceeding the Zacks Consensus Estimate of $8,946.3 million [2] - The adjusted operating income rose 12.8% to $3,790 million, driven by improved pricing and positive volume/mix, despite increased costs in marketing and administration [5] Product Performance - Revenues from smoke-free products increased by 15% (20.4% organically), accounting for 42% of total revenues, with strong performance from IQOS and ZYN [4] - Shipment volumes for total products increased by 3.9% to 187.8 billion units in the first quarter [4] Regional Performance - European net revenues grew 3% (8.6% organically) to $3,560 million, supported by positive pricing and volume [7] - In the Americas, revenues surged 27.2% (32% organically) to $1,267 million, driven by favorable volume and pricing [8] Future Outlook - For 2025, adjusted EPS is projected to be in the range of $7.36-$7.49, indicating a growth of 12-14% [11] - The company expects net revenues to increase by 6-8% on an organic basis and operating income to rise by 10.5-12.5% [13] - Operating cash flow is anticipated to exceed $11 billion in 2025, with capital expenditures around $1.5 billion [13]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and improve content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Group 1 - Philip Morris reported quarterly earnings of $1.69 per share, exceeding the Zacks Consensus Estimate of $1.61 per share, and up from $1.50 per share a year ago, representing an earnings surprise of 4.97% [1] - The company achieved revenues of $9.3 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.97%, and an increase from $8.79 billion year-over-year [2] - Philip Morris has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] Group 2 - The stock has increased approximately 36.4% since the beginning of the year, contrasting with a -10.1% decline in the S&P 500 [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The trend for estimate revisions for Philip Morris is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Group 3 - The current consensus EPS estimate for the upcoming quarter is $1.81 on revenues of $10.04 billion, and for the current fiscal year, it is $7.23 on revenues of $40.6 billion [7] - The Tobacco industry is ranked in the top 21% of Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Championing a Smoke-Free World 2025 First-Quarter Results April 23, 2025 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 April 23, 2025 and on our Investor Relations website 2 Forward-Looking and Cautionary Statements Excellent Q1 Marks Strong Start to 2025 (a) At prevailing exchange rates ...

Exhibit 99.2 Philip Morris International Inc. Glossary of Key Terms, Definitions and Explanatory Notes; and Select Financial Information and Reconciliations of Non-GAAP Financial Measures 2025 First-Quarter Results April 23, 2025 3 • "PMI" refers to Philip Morris International Inc. and its subsidiaries. Trademarks and service marks that are the registered property of, or licensed by, the subsidiaries of PMI, are italicized. • Comparisons are made to the same prior-year period unless otherwise stated. • Refe ...

智通财经4月23日电，美国烟草公司Philip Morris第一季度调整后每股收益1.69美元，预估1.61美元。 ...

Philip Morris International Inc. PM will release its first-quarter financial results before the opening bell on Wednesday, April 23. Analysts expect the company to report quarterly earnings at $1.61 per share, up from $1.50 per share in the year-ago period. According to data from Benzinga Pro, Philip Morris International projects quarterly revenue of $9.14 billion, compared to $8.79 billion a year earlier. On April 16, Citigroup analyst Simon Hales maintained Philip Morris Intl with a Buy rating and raised ...

以下文章来源于英为财情Investing ，作者Jesse Cohen 英为财情Investing . 全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包 括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。 来源 | 英为财情Investing 上周，美股因复活节假期仅交投四日，主要指数受关税问题困扰，全周走势反复向下。 道指跌2.7%，标指跌1.5%，科技股为主的纳指则跌2.6%。 第一财报季逐步升温，「美股七巨头」成员特斯拉及Google母企Alphabet将率先公布财报。其 他值得留意的企业包括：英特尔、IBM、波音、通用电气航空、AT&T、Verizon、T-Mobile、康 卡斯特、洛克希德马丁、RTX、诺斯洛普格鲁曼、美国航空、西南航空、宝洁、菲利普莫里斯、 百事可乐、Chipotle及默沙东。 接下来，笔者将着重分析分析师看好的一间公司，与分析师普遍看淡的一间公司。 菲利普莫里斯将于周三美东时间早上6:55（北京时间18:55）公布首季业绩，市场看好其表现。 根据期权市场走势，业绩公布后股价料会有约6% ...

Core Insights - The focus of Noah's Arc Capital Management is on 20th-century stocks that are undergoing transformations in the 21st century, as well as companies that facilitate these transformations [1] Group 1 - The firm aims to provide Wall Street-level insights to Main Street investors [1] - The research emphasizes innovations in business models that can lead to significant stock changes [1] Group 2 - Noah Cox is the managing partner of Noah's Arc Capital Management, and his views may not necessarily reflect those of the firm [3] - The article is intended solely for informational purposes and does not constitute investment advice [3][4]