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.
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Philip Morris International reported a 2023 Q1 diluted EPS of $1.28, down 14.7% YoY, while adjusted diluted EPS was $1.38, a 4.4% decrease. The company anticipates a full-year diluted EPS between $5.88 and $6.00 and adjusted diluted EPS of $6.10 to $6.22, indicating 7% to 9% growth. Total shipments of cigarettes and heated tobacco units (HTU) were 171.1 billion units, a slight decline of 1.1%. Net revenues rose 9.6% excluding currency factors, reaching $8.0 billion. Smoke-free product revenues grew 14.5%, accounting for 34.9% of total revenues. Despite the revenue growth, operating income decreased by 17.2% due to inflationary pressures and costs associated with the Swedish Match acquisition. The guidance for 2023 expects a cigarette volume decline of 2.5% to 3.5% and an adjusted operating income margin decline of up to 150 basis points.
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Philip Morris International (PMI) will host a live audio webcast on April 20, 2023, at 9:00 a.m. ET to discuss its Q1 2023 financial results, which will be released earlier that day at 7:00 a.m. ET.
The session, led by CFO Emmanuel Babeau, will include financial discussions and a Q&A with investors and the media. PMI aims to deliver a smoke-free future, having invested over USD 10.5 billion since 2008 to develop smoke-free products. Known brands include IQOS and ZYN. As of December 31, 2022, approximately 17.8 million adults have switched to IQOS, contributing to 32% of PMI's 2022 net revenues. The webcast will be accessible on various platforms and archived for later access.
Philip Morris International (PMI) has released its fourth annual Integrated Report, showcasing progress toward its goal of becoming a majority smoke-free company by 2025. In 2022, PMI reported that 24.9 million adults use its smoke-free products, accounting for 32.1% of net revenues. The company has invested over USD 10.7 billion in smoke-free alternatives and aims to phase out cigarettes. It has developed 11 goals linked to key performance indicators to monitor progress. PMI also emphasizes transparency and accountability in its sustainability efforts.