Philip Morris Stock Price, News & Analysis

Philip Morris International (PMI) announced a new Americas structure with Deepak Mishra appointed as President, effective July 1, 2021. This reorganization aims to enhance leadership in Latin America and Canada, promote reduced risk products in the U.S., and support PMI's 'beyond nicotine' strategy. CEO Jacek Olczak praised Mishra's strategic insights and experience from his previous roles. The changes include the retirement of Martin King, previous CEO of PMI America, and a shift in the reporting structure for the Strategy & Program Delivery function.

The Board of Directors of Philip Morris International (NYSE:PM) has authorized a new share repurchase program up to $7 billion, targeting $5 to $7 billion over three years, effective after the Q2 2021 earnings call. A quarterly dividend of $1.20 per share was also declared, payable on July 12, 2021. Since its 2008 spin-off, the company has returned approximately $115 billion to shareholders through dividends and repurchases. These actions underscore PMI's commitment to rewarding shareholders while transitioning to smoke-free products.

Philip Morris International (PM) has launched the third funding round of PMI IMPACT, an initiative aimed at combating illegal trade. Projects addressing various forms of illicit trade, including counterfeit goods and illicit tobacco, are now invited for funding. Applications are accepted from global organizations until deadlines on Sept. 15, 2021, Feb. 15, 2022, and Aug. 15, 2022. PMI has allocated $48 million to date across 60 projects in 30 countries, from a pledged $100 million for these funding rounds. The initiative emphasizes the need for innovative solutions, particularly in light of COVID-19's impact on trade.

Philip Morris International (PMI) has launched the United to Safeguard America from Illegal Trade (USA-IT) initiative aimed at combating illegal trade across eight U.S. states including California and Florida. The campaign seeks to raise awareness and equip local officials and law enforcement with resources to tackle black market issues exacerbated by the COVID-19 pandemic. PMI collaborates with various organizations to tackle counterfeit goods, which have surged nearly 40 percent since January 2020, and emphasizes the need for public-private partnership in combating the issue.

Philip Morris International (NYSE:PM) CFO Emmanuel Babeau will present today at the Deutsche Bank Global Consumer Conference, starting at 8:00 a.m. ET. A live audio call can be accessed at www.pmi.com/2021deutschebank. PMI reaffirms its adjusted diluted EPS forecast for 2021 of $5.95 to $6.05, representing an 11% to 13% increase over 2020. The company projects second-quarter adjusted diluted EPS between $1.50 and $1.55, aided by strong growth in heated tobacco unit shipments, particularly in the EU, Japan, and Russia. PMI will report Q2 earnings on July 20, 2021.

Philip Morris International (NYSE: PM) is set to host a virtual audio call featuring Emmanuel Babeau, CFO, at the Deutsche Bank Global Consumer Conference on June 8, 2021, at 8:00 a.m. ET. Interested participants can register for dial-in details at www.pmi.com/2021deutschebank. This call aims to discuss PMI’s ongoing shift towards smoke-free products, reflecting its commitment to public health, with approximately 14 million adults having already transitioned to IQOS as of March 31, 2021.

Philip Morris International (PMI) has released its latest Scientific Update, highlighting research on smoke-free alternatives and new initiatives for products devoid of tobacco and nicotine. The report details achievements from 2020 and ongoing research, including the FDA's authorization of the IQOS tobacco heating system as a modified risk tobacco product. PMI is committed to transforming the tobacco industry by replacing cigarettes with healthier options, currently offering smoke-free products in 66 markets.