Key Takeaways Smoke-free gross profit rose 33.1% with margins topping 70%, driving shift to a smoke-free model. ZYN U.S. shipments jumped 53% to 202M cans, with full-year guidance raised to 800-840M cans. Smoke-free products now span 95 markets with nearly 38.6M adult users worldwide for PM.Philip Morris International Inc. (PM) is rapidly transforming its business model to align with the global shift toward reduced-risk products. In the first quarter of 2025, smoke-free products accounted for 44% of the c ...