Filing Flows › Philip Morris International (PM) › Q1 2025
Philip Morris International (PM) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Philip Morris International (PM) reported revenue of $9.3B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -4% from the quarter before. Operating margin was 38.1%, net earnings $2.7B (28.9% of revenue).
Philip Morris International, Q1 2025: revenue $9.3B (+6% year over year), operating margin 38.1%, net earnings $2.7B, operating cash flow −$350M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.3B | -4% | +6% |
| Gross profit | $6.3B | -0.2% | +12% |
| Operating profit | $3.5B | +9% | +16% |
| Net earnings | $2.7B | — | +25% |
| Operating cash flow | −$350M | — | — |
What changed
Revenue was $9.3B in Q1 2025, up 6% year over year and down 4% from the previous quarter. Europe was the largest line at 38% of revenue. Americas added $0.27B year over year (up 27%), 53% of the total change.
Gross margin was 67.4%, up 3.7 points from a year earlier. Operating profit was $3.5B, a 38.1% margin (up 3.5 points year over year). Of the extra revenue versus a year earlier, 98% reached operating profit, above the 35% margin then. Operating expenses grew 7% against revenue growth of 6%. Net earnings were $2.7B, up 25% year over year. The effective tax rate was 18.9%.
Operating cash flow was −$0.35B. Non-cash charges added back $0.48B of depreciation and amortization. Working capital and other items used $3.7B. Capital expenditures of $0.40B exceeded it, leaving free cash flow of −$0.75B.
Questions
What was Philip Morris International's revenue in the first quarter 2025?
Philip Morris International (PM) reported revenue of $9.3B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -4% from the quarter before.
Was Philip Morris International profitable in the first quarter 2025?
Operating profit was $3.5B (38.1% of revenue) and net earnings $2.7B.