Financial Performance & Guidance - PMI confirms its 2025 adjusted diluted EPS guidance, projecting a growth of 13-15% driven by smoke-free products[3] - This growth represents the strongest performance since 2011, excluding the pandemic recovery period[3] - The forecast for reported diluted EPS in 2025 is $7.24 - $7.37, compared to $4.52 in 2024[6] - Adjusted diluted EPS for 2025 is projected to be $7.43 - $7.56, up from $6.57 in 2024[6] - Excluding currency effects, the adjusted diluted EPS growth is expected to be 11.5% - 13.5%, with EPS ranging from $7.33 - $7.46 compared to $6.57 in 2024[6] Business Momentum - PMI experienced strong momentum over the summer months, driven by IQOS growth and international expansion of ZYN and VEEV[3] - Combustible product sales performed better than expected in Turkey and Egypt[3] - The company is intensifying commercial activities in the U S due to increasing competition in the ZYN market, with some inventory normalization expected in Q3[3] - New smoke-free product markets are opening, including Taiwan[3] Factors Affecting Performance - Restructuring charges are estimated at $0.13 per share in 2025, compared to $0.10 in 2024[6] - Amortization of intangibles is projected at $0.50 per share in 2025, up from $0.40 in 2024[6]