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.
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.
Philip Morris International (PM) released a survey revealing that misinformation about smoke-free products hinders progress towards a smoke-free future. Conducted by Povaddo across 26 countries, the survey indicates that 79% of respondents believe adult smokers should have accurate information about smoke-free alternatives. Despite this demand, nearly 50% of adults incorrectly perceive e-cigarettes as equally harmful as traditional cigarettes. The findings highlight the need for better education on smoke-free options, as 91% of smokers who switched cited accurate information as crucial in their decision.
Philip Morris International CEO Jacek Olczak spoke at the 2021 Concordia Annual Summit, emphasizing the lessons learned from COVID-19 and advocating for innovative partnerships to tackle global issues. He highlighted the challenge of transitioning from traditional tobacco products to scientifically-backed smoke-free alternatives, underscoring the resistance from certain anti-tobacco groups. Olczak noted the significant potential for harm reduction, particularly citing the decline in cigarette use in Japan due to heated tobacco products. PMI aims to transform the tobacco industry, targeting a smoke-free future.
PMI has successfully acquired 74.77% of Vectura shares, surpassing the required 50% threshold for an unconditional offer. This acquisition, part of PMI's strategy to advance its Beyond Nicotine ambitions, aims to generate at least $1 billion from new product lines by 2025. The partnership will enhance Vectura’s development in inhaled therapeutics, leveraging PMI’s substantial investments of $8.1 billion since 2008 in smoke-free innovations. With its extensive pipeline of inhaled products, Vectura is set to play a pivotal role in PMI's transformation into adjacent health sectors.
Philip Morris International (PM) has completed its acquisition of Fertin Pharma for DKK 5.1 billion (approximately USD 820 million). This strategic move aims to enhance PM's portfolio of smoke-free products and expand into self-care wellness markets. Fertin Pharma, with its 850+ employees and expertise in oral delivery systems, is expected to significantly contribute to PM's 2025 objectives of generating over 50% of revenues from smoke-free products. The acquisition's impact on PM's full-year 2021 adjusted EPS is expected to be immaterial.