Key Business Metrics: Q2 20261 - New reporting structure: Standalone (core businesses) vs. Consolidated (including ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited) - Gross Revenue up +7.1%, excluding Agriculture business, driven by Cigarettes and FMCG - Overall EBITDA up +2.1% (ex-paper, up +3.2%); EBITDA margin...
Memo: Altria Q3 2025 Results
Results summary: Altria: Q3 2025 Results In the Altria: Q3 2025 Preview, we highlighted three points to watch out: (1) Combustible volume/pricing: Supported by Basic growth, we expected Altria’s cigarette volume decline to be around ~9% – significantly below the 10.5% adjusted decline reported in H1 2025. When adjusted for trade inventory...
Altria: Q3 2025 Results
Ahead of Q3 2025 Earnings release Release date: October 30, 2025 (before the opening bell) Revenue: $5.29 billion expected (-1% vs. $5.344Bn in Q3 2024) EPS: $1.44 expected (+4.4% vs. $1.38 in Q3 2024) Latest guidance: FY25 adjusted diluted EPS in a range of $5.35 to $5.45, representing a growth...
Memo: JT Q3 2025 Results
Results summary: Japan Tobacco: Q3 2025 Results The launch of IQOS in Japan (nationwide expansion: September 2015) is a milestone in Japan Tobacco's history. In 2015, JT was making close to 40% of its operating profit in Japan. The success of IQOS in Japan and the subsequent fast decline in...
Japan Tobacco: Q3 2025 Results
Revenue: ¥947.2Bn (versus ¥901Bn expected) EPS: ¥109 (versus ¥92.9 expected) Starting from Q3 2025, the Pharmaceutical business is classified as discontinued operations Top-line & Bottom-line Results - Tobacco Segment Only1 (Excluding Pharmaceuticals and Processed Food Segments. Tobacco Segment has a 92.5% weight in revenue and 100+% weight in adjusted operating...