Compared to Estimates, Philip Morris (PM) Q3 Earnings: A Look at Key Metrics (Revised)

Core Insights - Philip Morris reported $10.85 billion in revenue for Q3 2025, a year-over-year increase of 9.4% and an EPS of $2.24, up from $1.91 a year ago, exceeding Zacks Consensus Estimates for both revenue and EPS [1] Financial Performance - Revenue of $10.85 billion surpassed the Zacks Consensus Estimate of $10.7 billion, resulting in a surprise of +1.32% [1] - EPS of $2.24 exceeded the consensus estimate of $2.10, delivering a surprise of +6.67% [1] Shipment Volumes - Total shipment volume for cigarettes and heated tobacco units (HTUs) was 40.84 billion, exceeding the average estimate of 39.57 billion [4] - In Europe, cigarette shipment volume was 40.75 billion, slightly below the estimate of 41.41 billion [4] - Total shipment volume in the Americas was 14.7 billion, compared to the average estimate of 15.15 billion [4] Geographic Revenue Breakdown - Net revenues from EA, AU & PMI DF reached $1.77 billion, surpassing the estimate of $1.65 billion, with a year-over-year change of +10.4% [4] - Net revenues from Europe were $4.72 billion, exceeding the estimate of $4.67 billion, reflecting a year-over-year increase of +14.5% [4] - Net revenues from the Americas were $1.09 billion, below the estimate of $1.3 billion, showing a year-over-year decline of -5.5% [4] Smoke-Free Revenue - Net revenues from smoke-free products (excluding W&H) in SSEA, CIS & MEA were $520 million, exceeding the estimate of $468.15 million, with a year-over-year increase of +47.7% [4] - In EA, AU & PMI DF, smoke-free revenues (excluding W&H) were $1.12 billion, surpassing the estimate of $986.92 million, reflecting a year-over-year increase of +20.5% [4] - Total smoke-free revenues (excluding W&H) reached $4.45 billion, slightly above the estimate of $4.44 billion, representing a +20.1% year-over-year change [4] Stock Performance - Philip Morris shares returned -2.4% over the past month, while the Zacks S&P 500 composite increased by +1.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]