Key Takeaways The savings are making a visible impact on profitability. Philip Morris delivered an adjusted operating income margin expansion of 290 basis points in the first six months of 2025, including 250 basis points on an organic basis. In the second quarter, organic margin improvement accelerated to 300 basis points, up from 200 basis points in the first quarter, indicating strong operational execution. Philip Morris International Inc. ((PM) is halfway through the three-year cost-savings program and ...