Philip Morris International said net revenues for the 3 months ended March 31, 2025 were $9.3 billion, an increase of $0.5 billion, or 5.8%, from the comparable 2024 period. Excluding currency and acquisitions and divestitures, net revenues increased 10.2%, the company said.

1. 01

   Philip Morris International said net revenues for the 3 months ended March 31, 2025 were $9.3 billion, an increase of $0.5 billion, or 5.8%, from the comparable 2024 period. Excluding currency and acquisitions and divestitures, net revenues increased 10.2%, the company said.

2. 02

   The company cited favorable pricing, primarily from higher combustible tobacco pricing, and favorable volume and mix, mainly driven by higher smoke-free products volume despite unfavorable cigarette mix, as factors in the net revenue increase excluding currency and acquisitions and divestitures.

3. 03

   Philip Morris International cited an increase of $0.26 from operations, a favorable impact of $0.03 per share from interest, and an unfavorable impact of $0.07 per share from currency, as factors in the change in diluted EPS for Q1 2025. The company said the unfavorable currency movement was primarily due to fluctuations of the U.S. dollar, especially against the Egyptian pound, Japanese yen, Mexican peso and Russian ruble.

4. 04

   Philip Morris International said amortization of intangible assets increased from $120 million in Q1 2024 to $246 million in Q1 2025, with the 2025 amount including reacquired rights recorded as other intangible assets following the reacquisition of IQOS commercialization rights in the U.S. from Altria Group, Inc., effective May 2024. Fair value adjustments for equity security investments in India and Sri Lanka resulted in an after-tax gain of $143 million, or $0.09 per share, the company said.

Key figures

Quarter ended March 31, 2025

Revenue

$9.3B

Operating income

$3.5B

Net income

$2.7B

EPS

$1.72

Gross profit

$6.3B

Operating cash flow

−$350M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.