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.
On May 11, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), proposed a public offer to acquire all shares of Swedish Match AB. By November 4, 2022, PMHH secured tender for approximately 82.59% of shares, declaring the offer unconditional. Following a dividend declaration, the offer price for subsequent shares was reduced to SEK 115.07. PMHH has now acquired 85.87% of Swedish Match shares, prompting plans for compulsory redemption and delisting from Nasdaq Stockholm, aiming for over 90% ownership.
On November 7, 2022, Philip Morris Holland Holdings B.V. announced the unconditional completion of its public offer for Swedish Match AB shares. The offer price was increased to SEK 116 per share, with approximately 82.59% of shares tendered by shareholders. The acceptance period has been further extended to November 25, 2022, with a reduced offer price of SEK 115.07 for shares tendered post-dividend. The acquisition is expected to enhance PMI's smoke-free product portfolio, consolidating results from November 11, 2022.
On October 28, 2022, Philip Morris Holland Holdings B.V. (PMHH), affiliate of Philip Morris International (PM), announced a revised public offer to acquire Swedish Match AB shares at SEK 116 per share. This follows prior communications and emphasizes the need for 90% acceptance to ensure the deal's viability. PMHH retains the right to adjust the acceptance condition post-offer end. Regulatory compliance and shareholder actions are highlighted, along with ongoing efforts to enhance PM's smoke-free portfolio in the U.S.
On October 25, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), announced receipt of all necessary approvals for its public offer to acquire Swedish Match AB. Originally made public on May 11, 2022, the offer price was increased from SEK 106 to SEK 116 per share in October 2022. The acceptance period for this offer expires on November 4, 2022, and PMHH retains a 90% acceptance condition to proceed. The acquisition is subject to the divestiture of Swedish Match’s subsidiary, SMD Logistics AB, which is not expected to materially affect Swedish Match’s operations.
Philip Morris International (NYSE: PM) reported a third-quarter diluted EPS of $1.34 and an adjusted diluted EPS of $1.53, reflecting an 8.3% currency-neutral growth. The company targets a full-year reported diluted EPS between $5.47 and $5.62, with adjusted EPS forecasts of $5.81 to $5.96. Smoke-free products contributed 30.1% of total revenues, growing IQOS user numbers to approximately 19.5 million. Despite challenges like supply chain issues and inflation, the firm raised its growth outlook for adjusted net revenues to 6.5%-8%, aiming for a majority smoke-free revenue by 2025.
Philip Morris International (PMI) announced a significant agreement with Altria Group to terminate their commercial relationship regarding IQOS in the U.S. effective April 30, 2024. PMI will pay $2.7 billion for full commercialization rights, with $1.0 billion upfront. This strategic move allows PMI to leverage its resources and expertise to capitalize on the substantial U.S. smoke-free market, valued at approximately 60% of global markets, anticipating IQOS to account for 10% of U.S. cigarette volume by 2030.
On October 20, 2022, Philip Morris Holland Holdings B.V., an affiliate of Philip Morris International (PM), enhanced its public offer to acquire Swedish Match AB shares, raising the offer price to SEK 116 per share. This revised offer represents a premium of 52.5% over the last closing price before the initial offer. PMHH will not increase this price further due to regulations. The offer is crucial for capturing Swedish Match's cash flow potential, particularly from U.S. markets. Acceptance period ends on November 4, 2022.
Philip Morris International (NYSE: PM) will hold a live audio webcast on October 20, 2022, at 9:00 a.m. ET to discuss its 2022 third-quarter financial results, released at 7:00 a.m. ET. CFO Emmanuel Babeau will lead the session, which includes a Q&A. The audio is accessible via PMI's Investor Relations Mobile App or their website. Archived content will be available until November 18, 2022. PMI is focused on a smoke-free future and has invested over USD 9 billion in innovative products.
On May 11, 2022, Philip Morris Holland Holdings B.V. announced a public offer to acquire shares of Swedish Match AB. The acceptance period has been extended multiple times, with the latest deadline set for November 4, 2022. Regulatory approvals have been largely obtained, except for one from the European Commission, which is pending. As of October 3, 2022, shareholders have tendered approximately 0.51% of Swedish Match's shares. The merger aims to align with Philip Morris's strategy in a challenging market environment.
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