earnings
confidence high
sentiment positive
materiality 0.75
PMI reaffirms FY2025 adj. EPS growth 13-15%; Q3 ZYN offtake accelerates ~32%
Philip Morris International Inc.
- Reaffirmed FY2025 reported EPS $7.24-$7.37, adj. EPS $7.43-$7.56 (growth 13-15%).
- Excluding currency, adj. EPS growth 11.5%-13.5% vs $6.57 in FY2024.
- Q3-to-date US ZYN offtake ~32% growth in first 8 weeks; H2 shipments now seen broadly in line with offtake.
- Combustible volume recovery in Turkey/Egypt better than expected; IQOS, ZYN international, VEEV growth strong.
- Previously assumed 800-840M ZYN can shipments for FY; updated outlook reflects competition and inventory normalization.
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