Philip Morris Stock Price, News & Analysis

Philip Morris International (PMI) announces the relocation of its corporate headquarters to Stamford, Connecticut, with an expected opening in summer 2022. This move is poised to create approximately 200 jobs and contribute around $50 million to the state's economy. The 71,484 square foot facility will serve as a hub for PMI’s Americas region and amplify its commitment to a smoke-free future. PMI aims to transition to a majority smoke-free product portfolio by the end of 2025, with nearly 30% of net revenues coming from non-combustible products as of Q3 2021.

Philip Morris International (PM) has expressed support for the U.K. government’s initiative to simplify the licensing of electronic cigarettes and inhaled nicotine-containing products as medicines. This landmark proposal aims to combat smoking disparities, especially in low-income areas, promoting e-cigarettes as less harmful alternatives. Currently, around 27.2% of U.K. smokers use e-cigarettes, indicating a shift to better smoking alternatives. The company emphasizes that regulated e-cigarettes contribute positively to public health and encourages other nations to adopt similar policies.

Philip Morris International (PMI) has committed an additional USD 200 million to PM Equity Partner (PMEP) for minority investments in early and growth-stage companies, building on a previous USD 150 million investment. This funding will support PMI's goal of advancing smoke-free products. The investments will focus on four technology segments: life sciences, industrial technologies, product technologies, and consumer engagement technologies. PMI's transition has seen 29% of its net revenues from smoke-free products, with approximately 14.9 million smokers switching to their IQOS system.

Philip Morris International (PMI) announced a new category management structure to enhance its smoke-free and combustible cigarettes businesses. Stefano Volpetti has been appointed President of the Smoke-Free Products Category and Chief Consumer Officer, while Werner Barth becomes President of the Combustibles Category and Global Combustibles Marketing, effective November 1, 2021. PMI aims to accelerate growth and achieve smoke-free product availability in 100 markets by 2025, targeting over 50% of net revenues from these products. As of September 30, 2021, smoke-free products accounted for approximately 29% of PMI's total net revenues.

Philip Morris International (PM) has unveiled its Low Carbon Transition Plan (LCTP), aiming for carbon neutrality in direct operations by 2025 and across its entire value chain by 2040. This plan emphasizes supplier engagement and the adoption of science-based targets to meet the Paris Agreement goals. The company employs a three-step approach: enhancing energy efficiency, transitioning to renewable sources, and investing in nature-based solutions. PMI has received recognition for its climate actions, achieving a perfect score in the Dow Jones Sustainability Index.

Philip Morris International Inc. (NYSE: PM) revises its 2021 full-year reported diluted EPS forecast to $5.77 to $5.82, reflecting a growth of 13% to 14% when adjusted for currency. For Q3, reported diluted EPS grew by 4.7% to $1.55, with adjusted EPS up by 11.3% to $1.58. Heated tobacco unit shipments rose by 23.8%, contributing to a significant increase in smoke-free product revenues, which now represent 28.6% of total revenues. The company also raised its quarterly dividend by 4.2% and plans continued investment despite ongoing device supply challenges due to semiconductor shortages.

Philip Morris International (NYSE: PM) will hold a live audio webcast on October 19, 2021, at 9:00 a.m. ET, to discuss its 2021 Third-Quarter results, released at 7:00 a.m. ET. CFO Emmanuel Babeau will present the results and answer questions. The webcast is accessible via www.pmi.com/2021Q3earnings and the Investor Relations Mobile Application. An archived copy will be available until November 17, 2021. PMI aims to replace cigarettes with smoke-free products, having approximately 14.7 million adult users of its IQOS devices worldwide.

Philip Morris International (PM) announced on September 29, 2021, the establishment of a $2.5 billion revolving credit facility, expiring on September 29, 2026, as part of its Business Transformation-Linked Financing Framework. This facility replaces a previous $3.5 billion credit line. Pricing may adjust based on progress in business transformation metrics related to smoke-free products. The company aims to accelerate its transition away from traditional cigarettes, with over 14.7 million adults globally adopting IQOS products.