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Philip Morris reports 9.9% EPS growth as IQOS sales boost Q3 revenue to $9.7 billion

Philip Morris posted Q3 EPS $2.
Philip Morris International posted Q3 2025 EPS of $2.10 (+9.9% YoY) on net revenue of $9.7 billion (+7% YoY). Strong growth in heat-not-burn IQOS devices and reduced-risk products offset a drop in traditional cigarette volumes. Operating margin expanded 180 bps to 45.3%. Management raised full-year EPS guidance to $8.65 – $8.80 and announced a $1 billion buyback plan.