Philip Morris Stock Price, News & Analysis

Philip Morris International (PM) reaffirms its 2023 full-year forecast for reported diluted EPS between $6.09 and $6.21, and adjusted diluted EPS between $6.25 and $6.37. This reflects a projected currency-neutral growth of 7% to 9% compared to $5.98 in 2022. The company's presentation at the 2023 Consumer Analyst Group of New York Conference will address its progress towards a smoke-free business, the financial model supporting this transformation, and plans for investment in products like IQOS in the U.S. and internationally. PMI's smoke-free products now account for approximately 32% of total net revenues as of 2022.

Philip Morris International (PM) announced a live audio webcast of a presentation by Chief Financial Officer Emmanuel Babeau at the Consumer Analyst Group of New York (CAGNY) Conference on February 22, 2023, at 11:00 a.m. ET. The session can be accessed in listen-only mode on www.pmi.com/2023cagny. An archived version will be available until March 23, 2023. PMI's focus includes transitioning to smoke-free products, having invested over $10.5 billion since 2008. The company acquired Swedish Match in November 2022, enhancing its smoke-free product portfolio.

Philip Morris International reported its 2022 financial results, showcasing a reported diluted EPS of $5.81 and an adjusted diluted EPS of $5.98, marking a currency-neutral growth of 11.9%. The fourth quarter highlighted a total shipment volume growth of 1.2% and a 26.1% increase in heated tobacco units (HTUs). Smoke-free products accounted for 32.1% of net revenues, with strong growth from IQOS and ZYN brands. For 2023, PMI forecasts diluted EPS between $6.09 and $6.21, projecting organic revenue growth of 7% to 8.5%. Challenges from the war in Ukraine and inflationary pressures are noted, alongside a 1.6% dividend increase to $1.27 per share.

Philip Morris International (NYSE: PM) will hold a live audio webcast on February 9, 2023, at 9:00 a.m. ET to discuss its 2022 Fourth-Quarter and Full-Year results. The results will be released at approximately 7:00 a.m. ET on the same day. CEO Jacek Olczak and CFO Emmanuel Babeau will present the findings and outlook for 2023, answering questions from media and investors. The webcast can be accessed via the Investor Relations Mobile App or online, and an archived version will be available until March 10, 2023. PMI is committed to transitioning to smoke-free products, having invested over $9 billion since 2008 towards this goal.

Philip Morris International (PMI) has announced a long-term exclusive agreement with KT&G, South Korea’s leading tobacco manufacturer, to commercialize KT&G's innovative smoke-free products globally, excluding South Korea. The 15-year partnership, set to begin on January 29, 2023, includes commitments to produce 16 billion consumables in the first three years. This collaboration aims to promote smoke-free alternatives, aligning with PMI's vision for a smoke-free future. PMI has invested over USD 9 billion since 2008 in developing smoke-free products, with approximately 13.5 million adults having switched to PMI's IQOS.

Philip Morris International (PM) announced new biodiversity and water stewardship ambitions, aligning with the Post-2020 Biodiversity Framework at the UN Biodiversity Conference (COP15). The goals focus on achieving no net loss of ecosystems by 2033 and a net positive impact by 2050. PMI aims for carbon neutrality in its operations by 2025 and across its entire value chain by 2040. Recognized with a Triple A score by CDP, PMI emphasizes the importance of sustainable resource management to enhance resilience against climate change-related risks.

The Board of Directors of Philip Morris International (NYSE: PM) has declared a quarterly dividend of $1.27 per share, payable on January 11, 2023. Shareholders of record as of December 22, 2022 are eligible, with an ex-dividend date set for December 21, 2022. Philip Morris continues its commitment to a smoke-free future, having invested over USD 9 billion since 2008 on smoke-free product development, with IQOS now in 70 markets, and 13.5 million adults having transitioned to it.

On May 11, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), announced a public offer for all shares of Swedish Match AB. The offer, declared unconditional on November 7, 2022, led to PMHH acquiring 93.11% of Swedish Match shares by the end of the extended acceptance period. The final share price was adjusted to SEK 115.07 due to a dividend payment. PMHH plans to initiate a compulsory redemption for the remaining shares and seek delisting from Nasdaq Stockholm, aiming to create a comprehensive smoke-free product portfolio.

Philip Morris International (PMI) has announced a new regional structure and senior management changes to support its smoke-free business growth. The restructuring aims to enhance consumer focus and accelerate innovation, with a goal of becoming a majority smoke-free business by 2025. Key management appointments include Paul Riley, Frederic de Wilde, Massimo Andolina, and Deepak Mishra. The changes will take effect by January 2023, consolidating operations into four regions to boost the transition to smoke-free products in various markets, including the U.S.