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Investing.com -- Philip Morris International Inc. posted a solid first-quarter report, beating analyst expectations and raising its full-year 2025 earnings guidance, sending shares up 3.7% in premarket trading.
The tobacco giant posted adjusted earnings per share of $1.69, topping the analyst consensus of $1.60. Revenue rose 5.8% year-over-year to $9.3 billion, also beating estimates of $9.06 billion.
"We achieved exceptionally strong performance in the first quarter, with continued volume growth supporting an excellent top-line performance and very strong margin expansion," said CEO Jacek Olczak.
The company’s smoke-free business, which includes heated tobacco and oral nicotine products, saw organic revenue growth of 20.4% and now accounts for 42% of total net revenues. Shipment volumes for heated tobacco units increased 11.9% to 37.1 billion units.
In the U.S., shipments of ZYN nicotine pouches exceeded 200 million cans, representing 53% growth year-over-year. The company now expects full-year ZYN shipments of 800 to 840 million cans, up from previous guidance.
Philip Morris (NYSE:PM) raised its 2025 adjusted EPS forecast to a range of $7.36 to $7.49, up from $7.04 to $7.17 previously, citing favorable currency impacts.
The company maintained its outlook for 6-8% organic revenue growth and 10.5-12.5% organic operating income growth for the full year.
"We remain confident in our ability to deliver superior results, despite an uncertain and volatile global economic environment," Olczak added.