PM
Philip Morris International Inc.157.95
-0.46-0.29%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms transitory headwinds, smoke-free reacceleration.
Q&A largely reaffirmed PMI's prepared guidance, clarifying 2026 smoke-free volume growth at high single digits despite transitory Japan excise hikes and US ZYN inventory comps, with reacceleration eyed post-2026 via fiscal symmetry and FDA approvals for higher-strength pouches. IQOS momentum persists against intensified Japan competition, Taiwan launch impresses early. ZYN promotions normalized as part of brand/portfolio tweaks, not a shift. Japan elasticities drew cautious replies; no margin rupture expected long-term. Cost savings to continue via AI. Fundamentals rock-solid. Watch FDA progress.
Key Stats
Market Cap
245.87BP/E (TTM)
22.53Basic EPS (TTM)
7.01Dividend Yield
0.03%Recent Filings
8-K
PMI declares $1.47 dividend
Philip Morris International's board declared a regular quarterly dividend of $1.47 per common share on March 5, 2026, payable April 13 to shareholders of record March 19. This signals steady cash flow commitment amid smoke-free growth, where such products hit 41.5% of 2025 net revenues. Dividend sustains shareholder returns.
8-K
PMI reaffirms 2026 EPS forecast
Philip Morris International presented at the 2026 CAGNY Conference on February 18, reaffirming its full-year adjusted diluted EPS forecast of $8.38-$8.53, up 11.1%-13.1% from 2025's $7.54. Excluding $0.27 currency tailwind, growth hits 7.5%-9.5%. Assumptions unchanged. Forecasts carry regulatory and market risks.
8-K
PMI smoke-free update at CAGNY
Philip Morris International presented at the CAGNY Conference on February 18, 2026, highlighting smoke-free products hitting ~$17 billion in net revenues across 106 markets, comprising 41.5% of total net revenues in FY'25. Smoke-free volumes grew to high-single-digit while combustibles declined; management targets 6-8% organic net revenue CAGR and 9-11% adjusted diluted EPS CAGR through 2028. Access blocked in key markets persists.
10-K
FY2025 results
Philip Morris International delivered FY2025 net revenues of $40.6B, up 7.3% y/y, with smoke-free products surging 15% to $16.9B on 12.8% shipment growth (179.1B equivalent units) while cigarettes dipped 1.5% to 607.4B units; Q4 momentum accelerated as oral SFPs jumped 18.5% y/y and HTUs 11.0%, fueled by ZYN in Americas (up 29.4% to 930M cans) and IQOS across regions. Operating income rose 11.1% to $14.9B, boosted by pricing and volume/mix yet pressured by $241M restructuring for German factory closures. Debt stood at $48.8B with $4.9B cash; no buybacks or dividends changed in Q4. New segments launch Q1 2026. Regulatory restrictions on SFPs could stall quarterly switching momentum.
8-K
PMI crushes 2025 earnings
Philip Morris International reported 2025 full-year net revenues of $40.6B, up 7.3%, with smoke-free products surging 15.0% to $16.9B and comprising 41.5% of total. Adjusted diluted EPS hit $7.54, up 14.8%, fueled by 12.8% smoke-free shipment growth despite cigarette declines. Smoke-free products now reach 106 markets. Forecasts 2026 adjusted EPS growth of 11.1%-13.1%; new segments start Q1 2026.
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