CLAIM #50387 · PM (PM) · 2025Q3 earnings call · Oct 21, 2025 · due Dec 31, 2025
“And we are also having some as we explained, slightly positive or better views on the tax rate. And I should probably add that interest costs are not evolving in an unfavorable manner, but rather in a favorable manner.”
Emmanuel Babeau · CFO
In context
“capacity to work at the state level with the the with the right people. These are investment we are making gradually, and we are indeed continuing to invest behind IQOS to prepare the launch in the future. So all that is absolutely playing in The U.S. And impacting The U.S. On the full year guidance, so yes, obviously, everybody understands, if you take the EUR 100,000,000 and the revision, which is really the new element of this Q3 and the revision of the guidance. Everybody understand where the revision of the guidance is coming. Can I just nevertheless say that there is still the possibility that we finish above 11%, which was the previous guidance? So we'll see how Q4 unfold. And we are raising EPS I mean, let's be clear, we continue nevertheless to expect a very strong growth of OI. And we are also having some as we explained, slightly positive or better views on the tax rate. And I should probably add that interest costs are not evolving in an unfavorable manner, but rather in a favorable manner. So we could be a bit better than what we thought initially. But fundamentally, let's be clear, the EPS growth, the strong double digit, that is coming from the OI growth, okay? That that is a powerful engine that we have, and that is powering very nicely the the company. Well and I think on the cake on on top of that, indeed, you know, tax seems to be evolving in the in the right direction. Bonnie Herzog: Okay. That's helpful. And maybe a quick follow-up question on the free can promo in Zen. Emmanuel, you touched on it. You said it was it a success. Did it actually bring in new consumers to the brand? And if so, I mean, can you give us a sense of what percentage of the free can promo resulted in new consumers to the brand? And then I am curious to hear why you chose to run the promo the”
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SEC filings for PM ↗ · Claim quote is verbatim from the 2025Q3 earnings call.