Philip Morris Stock Price, News & Analysis

Philip Morris International (PMI) has appointed Keagan Lenihan as Vice President of Government Affairs and Public Policy, leading its Washington, D.C. office. Lenihan brings extensive experience, including roles at the FDA and HHS, and will focus on advancing PMI's journey away from cigarettes. PMI has invested over USD 9 billion in smoke-free products, with the goal of ending cigarette sales. As of March 2022, approximately 12.7 million adults globally have switched to PMI's IQOS devices, aligning with its ambition to pioneer in wellness and healthcare.

Philip Morris International (NYSE: PM) will hold its 2022 Annual Meeting of Shareholders via a live audio webcast on May 4, 2022, at 9:00 a.m. ET. Shareholders can access the meeting virtually and are required to have a valid 16-digit control number to participate. The meeting will feature remarks from André Calantzopoulos and Jacek Olczak and will also be accessible through PMI's Investor Relations Mobile App. PMI is committed to creating a smoke-free future, investing over USD 9 billion in smoke-free products since 2008, with significant global market reach.

Philip Morris International reported a strong first quarter for 2022, with diluted EPS of $1.50 and adjusted diluted EPS of $1.56, reflecting a currency-neutral growth of 14%. Excluding operations in Russia and Ukraine, pro forma adjusted diluted EPS is forecasted between $5.35 and $5.46, indicating a growth of 9% to 11% for the year. Total shipment volume increased by 3.5%, led by heated tobacco units, which comprised over 31% of net revenues. The company remains committed to its goal of becoming a majority smoke-free business by 2025, despite challenges from geopolitical events.

Philip Morris International Inc. (NYSE: PM) will host a live audio webcast on April 21, 2022, at 9:00 a.m. ET, to discuss its 2022 First-Quarter results, released at 7:00 a.m. ET. The webcast will feature CEO Jacek Olczak and CFO Emmanuel Babeau, and will include a Q&A session. Interested participants can access the webcast on www.pmi.com/2022Q1earnings. An archived version will be available until May 20, 2022. PMI aims to deliver a smoke-free future with over $9 billion invested in innovative products.

Philip Morris International (NYSE: PM) has announced significant operational changes in Russia, halting planned investments and scaling down manufacturing. Key actions include discontinuing several cigarette products, suspending marketing efforts, and canceling product launches, including the heated tobacco product IQOS ILUMA. The company has also canceled plans to produce over 20 billion TEREA sticks, ending a USD 150 million investment. PMI's Board is exploring an orderly exit from the Russian market while ensuring the well-being of its 3,200 employees there.

The Board of Directors of Philip Morris International (NYSE: PM) has declared a quarterly dividend of $1.25 per common share, set to be paid on April 12, 2022, to shareholders of record as of March 24, 2022. The ex-dividend date is March 23, 2022. PMI continues its transition towards a smoke-free future, having invested over USD 9 billion since 2008 in developing smoke-free products like IQOS, which is now available in 71 markets and has attracted around 15.3 million adult users who have quit smoking.

Philip Morris International (NYSE: PM) has suspended all planned investments in Russia, ceasing new product launches and scaling down manufacturing operations. This decision comes amidst ongoing supply chain disruptions and an evolving regulatory environment. CEO Jacek Olczak highlighted the company's commitment to supporting over 1,000 employees in Ukraine, facilitating evacuations, and providing aid. PMI has pledged USD 10 million for humanitarian efforts and matched employee donations, totaling over USD 300,000. In 2021, Russia represented approximately 6% of PMI's net revenues.

Philip Morris International (PM) has temporarily suspended its operations in Ukraine, including the Kharkiv factory, due to safety concerns for its employees amidst ongoing conflict. This region accounted for approximately 2% of the company's total cigarette and heated tobacco unit shipments and net revenues in 2021. Over 1,300 employees are affected, and PMI has contingency plans to resume operations once conditions allow. The company remains focused on delivering a smoke-free future, investing over USD 9 billion in smoke-free products since 2008.

Philip Morris International Inc. (NYSE: PM) presented at the 2022 Consumer Analyst Group of New York Virtual Conference, highlighting its transition to a smoke-free business by 2025. CEO Jacek Olczak and CFO Emmanuel Babeau emphasized a robust financial model driving this transformation. PMI aims for over 5% organic net revenue growth and more than 9% adjusted diluted EPS growth from 2021 to 2023. Despite ongoing geopolitical tensions involving Russia and Ukraine, PMI anticipates no material business impact. PMI has invested over USD 9 billion since 2008 in smoke-free innovations.