PMI(US:PM) ZACKSยท2025-04-23 16:30Core 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]