Welcome to our dedicated page for Philip Morris news (Ticker: PM), a resource for investors and traders seeking the latest updates and insights on Philip Morris stock.
Philip Morris International Inc. reports developments across its cigarette business and expanding smoke-free portfolio, including IQOS heated tobacco products, ZYN nicotine pouches and e-vapor offerings. Company news commonly covers quarterly results, shipment and revenue trends, product authorizations, brand collaborations, and updates tied to adult-smoker alternatives.
Recurring announcements also address U.S. and international regulatory matters, including FDA modified-risk tobacco product authorizations for IQOS, as well as annual shareholder meetings, board elections, executive compensation votes, auditor ratification, shareholder proposals, and corporate responsibility initiatives.
Philip Morris International's (PMI) subsidiary, Vectura Fertin Pharma, has announced the sale of Vectura Group to Molex Asia Holdings for GBP 150 million upfront, with potential deferred payments of up to GBP 148 million. The deal includes master service agreements for developing inhaled therapeutics. Vectura will be operated by Phillips Medisize, a Molex company.
PMI CEO Jacek Olczak stated that while Vectura has been important in developing their inhaled therapeutics pipeline, opposition to PMI's transformation has impacted Vectura's scientific engagement and commercial relationships. The remaining Vectura Fertin Pharma units will continue under PMI, focusing on oral consumer health and inhaled prescription products.
Philip Morris International (NYSE: PM) has announced a 3.8% increase in its regular quarterly dividend to an annualized rate of $5.40 per share. The new quarterly dividend of $1.35 per share will be payable on October 10, 2024, to shareholders of record as of September 26, 2024. This move demonstrates PMI's commitment to delivering value to shareholders while pursuing its smoke-free future strategy.
PMI's current portfolio includes cigarettes and smoke-free products, with the company investing over $12.5 billion since 2008 to develop and commercialize innovative smoke-free alternatives. As of June 30, 2024, PMI's smoke-free products were available in 90 markets, with an estimated 36.5 million adult users globally. The smoke-free business accounted for approximately 38% of PMI's total first-half 2024 net revenues.
Philip Morris International (PMI) warns about high levels of illicit cigarette consumption in the European Union, with 35.2 billion illicit cigarettes consumed in 2023, accounting for 8.3% of total consumption. The KPMG report commissioned by PMI reveals that counterfeit cigarettes remain a major source of illicit consumption, with 12.7 billion cigarettes consumed. France leads as the country with the largest illicit consumption in Europe, with 16.8 billion illicit cigarettes and an estimated €7.3 billion in lost tax revenues.
PMI calls for a holistic approach to curb illicit trade, including law enforcement, awareness campaigns, and a predictable fiscal environment. The company emphasizes the need for innovative approaches to reduce smoking prevalence and advocates for smoke-free alternatives. PMI's survey across 14 European countries shows that 60% of adults believe their country has a problem with illicit tobacco products, and 77% agree that illicit trade robs governments of significant tax revenue.
Philip Morris International (PMI) reaffirms its 2024 full-year forecast at the Barclays Global Consumer Staples Conference. CEO Jacek Olczak will participate in a fireside chat, which will be webcast live. PMI maintains its projected reported diluted EPS of $5.89 to $6.01 and adjusted diluted EPS of $6.33 to $6.45, representing a currency-neutral growth of 11% to 13% compared to 2023. The forecast accounts for a total 2024 adjustment of $0.44 per share and an unfavorable currency impact of $0.34 per share. This projection is based on the same assumptions communicated in PMI's July 23, 2024 earnings release.
Philip Morris International (PMI) will host a live webcast of a fireside chat session with CEO Jacek Olczak at the 2024 Barclays Global Consumer Staples Conference on September 3, 2024, at 12:45 p.m. ET. The webcast will be available at www.pmi.com/2024barclays and through PMI's Investor Relations Mobile App.
PMI, a leading tobacco company, is actively pursuing a smoke-free future. Since 2008, the company has invested over $12.5 billion in developing and commercializing innovative smoke-free products. In 2022, PMI acquired Swedish Match, creating a global smoke-free champion led by IQOS and ZYN brands. As of June 30, 2024, PMI's smoke-free products were available in 90 markets, with an estimated 36.5 million adult users worldwide. Smoke-free business accounted for approximately 38% of PMI's total first-half 2024 net revenues.
Philip Morris International (PMI) announces a $232 million investment through its Swedish Match affiliate to expand production capacity in Owensboro, Kentucky. This expansion is expected to create 450 direct jobs and have an annual economic impact of $277 million. The facility produces ZYN nicotine pouches to meet growing demand from legal-age consumers switching from traditional tobacco products. The expansion will increase the plant's workforce by 40% and is targeted for completion by Q2 2025. This investment is part of PMI's mission to deliver a smoke-free future in the U.S. market, which it entered after acquiring Swedish Match AB in late 2022.
Philip Morris International (PMI) has announced a memorandum of understanding with KT&G, South Korea's leading tobacco and nicotine product manufacturer. This collaboration aims to advance their shared vision of a smoke-free future, focusing on the U.S. market. The agreement follows a previous arrangement granting PMI exclusive rights to commercialize KT&G's smoke-free products globally, excluding South Korea.
The partners plan to work on Pre-Market Tobacco Product Application (PMTA) submissions for KT&G's new heat-not-burn products selected by PMI for U.S. commercialization. PMI's CEO, Jacek Olczak, emphasized the importance of the heat-not-burn category in making cigarettes obsolete in the U.S. As of June 30, 2024, PMI's smoke-free products were available in 90 markets, with an estimated 36.5 million adult users worldwide. Smoke-free business accounted for approximately 38% of PMI's total first-half 2024 net revenues.
Philip Morris International (PMI) reported strong Q2 2024 results and raised its full-year guidance. Key highlights include:
- Reported Diluted EPS grew 52.5% to $1.54
- Adjusted Diluted EPS decreased 0.6% to $1.59, but grew 10.6% excluding currency
- Smoke-free business accounted for 38.1% of total net revenues, up 2.7pp year-over-year
- Estimated 36.5 million adult users of smoke-free products, up 3.2 million since December 2023
- IQOS users reached 30.8 million, with 22.1 million fully switched
- HTU market share in IQOS markets up 0.7pp to 8.1%
- ZYN nicotine pouch shipments in the U.S. grew 50.3% to 135.1 million cans
PMI raised its 2024 full-year forecast, projecting adjusted diluted EPS growth of 11.0% to 13.0% excluding currency impacts.
Philip Morris International (NYSE: PM) will host a live audio webcast on July 23, 2024, at 9:00 a.m. ET to discuss its 2024 second-quarter and first-half results. The webcast, hosted by CFO Emmanuel Babeau, will be available at www.pmi.com/2024Q2earnings. PMI, a leading tobacco company, is actively pursuing a smoke-free future and diversifying its portfolio beyond tobacco and nicotine products.
Key highlights:
- PMI has invested over $12.5 billion in smoke-free products since 2008
- Smoke-free products accounted for 37% of PMI's total 2023 net revenues
- PMI's smoke-free products are available in 84 markets
- Approximately 33 million adults globally use PMI's smoke-free products
Philip Morris International (PMI) has announced a $600 million investment to open a state-of-the-art manufacturing facility in Aurora, Colorado. The facility, set to begin operations by the end of 2025, will produce Swedish Match ZYN nicotine pouches to meet growing global demand for smoke-free products. This investment is expected to create 500 direct jobs and an additional 1,000 indirect jobs, with an ongoing annual economic impact of $550 million for Colorado.
The new facility joins existing smoke-free product manufacturing sites in Owensboro, Kentucky, and Wilson, North Carolina. PMI's U.S. affiliate plans to break ground later this year, with regular production starting in 2026. The construction phase alone is projected to create nearly 5,000 jobs with a $1 billion economic impact. This expansion aligns with PMI's mission to provide better alternatives to smoking for legal-age consumers who smoke.