Philip Morris Int'l Reports 12.8% Increase in Smoke-Free Product Shipments

By Chris Stiles • Friday, March 13 11:23 • Permanent Link

Philip Morris International Inc. (PMI) has released its recast shipment volume and unaudited financial information for 2025, comparing it with 2024. The report reveals changes in various metrics across different product categories and geographic segments. Here are the key highlights:

Shipment Volume by Product Category: Cigarettes: The total shipment volume for cigarettes in 2025 was 607,367 million equivalent units, representing a 1.5% decrease from 616,827 million equivalent units in 2024. Smoke-Free Products: The total shipment volume for smoke-free products in 2025 was 179,131 million equivalent units, marking a 12.8% increase from 158,842 million equivalent units in 2024. Heated Tobacco Units (HTU): PMI shipped 155,133 million equivalent units of HTUs in 2025, reflecting an 11.0% increase from 139,743 million equivalent units in 2024. Oral Smoke-Free Products: The company shipped 20,668 million equivalent units of oral smoke-free products in 2025, showing an 18.5% increase from 17,448 million equivalent units in 2024. * E-Vapor: PMI shipped 3,330 million equivalent units of e-vapor products in 2025, representing a 100% increase from 1,651 million equivalent units in 2024.

Reconciliation of Non-GAAP Measures: Net Revenues: The net revenues from smoke-free products in 2025, after excluding the impact of currency and acquisitions/divestitures, stood at $4,076 million, marking a 20.4% increase from $3,386 million in 2024. Adjusted Gross Profit Margin: The adjusted gross profit margin for the smoke-free category was 12.5% in 2025, reflecting a 2.1% increase from 10.4% in 2024. * Adjusted Operating Companies Income Margin: The adjusted operating companies income margin for smoke-free products was 18.9% in 2025, showing an 8.9% increase from 13.4% in 2024.

The reported figures demonstrate PMI's performance in different product categories and geographic segments, highlighting significant changes in shipment volumes and financial metrics compared to the previous year. As a result of these announcements, the company's shares have moved 0.61% on the market, and are now trading at a price of $173.62. For the full picture, make sure to review Philip Morris International's 8-K report.

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