Philip Morris International Inc. said in its first-quarter report on Wednesday that its net revenue rose by 5.8% on a yearly basis to $9.3 billion, operating income added 16.4% to $3.5 billion, and diluted earnings per share (EPS) jumped 24.6%, reaching $1.72. Smoke-free business accounted for 42% of its total net revenues, with sales rising 15% year-on-year.
"We remain confident in our ability to deliver superior results, despite an uncertain and volatile global economic environment," CEO Jacek Olczak said. The company predicts a net revenue growth of around 6% to 8% on an organic basis and organic operating income growth of 10.5% to 12.5% in 2025, while forecasting diluted EPS of $1.80 to $1.85 in the second quarter. It said it did not have plans for a stock buyback this year.
Shares of Philip Morris grew by 1.76% in the premarket trade after the earnings release.
