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 (NYSE:PM) will redeem all outstanding 1.875% Notes due February 25, 2021, on January 25, 2021. As of December 15, 2020, $750 million in principal was outstanding. PMI will pay the registered holders 100% of the principal amount plus accrued interest. This release does not constitute a notice of redemption. PMI is transitioning to a smoke-free future, encouraging adult smoking cessation with its IQOS product, which has moved approximately 11.7 million adults to smoke-free alternatives across 61 markets. For more, visit www.pmi.com.
Philip Morris International (PM) announced a leadership succession plan set to be finalized in May 2021. André Calantzopoulos will transition from CEO to Executive Chairman, while Jacek Olczak will become the new CEO. This change follows Mr. Louis Camilleri's retirement as Chairman. The transition aims for continuity in leadership, highlighting the company’s strategic vision and achievements in smoke-free product development. Olczak, with extensive experience in the company, is expected to drive future innovation and shareholder value.
The Board of Directors of Philip Morris International (NYSE: PM) has declared a quarterly dividend of $1.20 per common share, payable on January 11, 2021, to shareholders on record as of December 23, 2020. The ex-dividend date is December 22, 2020. PMI is committed to transforming the tobacco industry towards a smoke-free future, aiming to replace traditional cigarettes with innovative smoke-free products, such as the IQOS device, which has attracted over 11.7 million adult smokers globally.
Philip Morris International (PM) has received commendations from CDP and Science Based Targets initiative (SBTi) for its sustainability initiatives. PMI is among only 10 companies globally to achieve a 'Triple A' from CDP over its climate change and water security efforts. Furthermore, SBTi has verified PMI's emissions targets, aligning them with the Paris Agreement goals. CEO André Calantzopoulos emphasized their commitment to sustainability, aiming for carbon neutrality in direct operations by 2030 and across the value chain by 2050. PMI's dedication to reducing environmental impact is highlighted through various strategic programs.
The FDA has authorized the sale of Philip Morris International's IQOS 3, an advanced electrically heated tobacco system, citing it as beneficial for public health. This decision follows a premarket tobacco product application submitted in March 2020. IQOS 3 features improved battery life and faster recharge times. The FDA reported no increased usage among youth and young adults. PMI's CEO stated that this approval could accelerate the transition from smoking to less harmful alternatives. The authorization is in line with previous PMTA orders aimed at minimizing unintended use among youth.
Philip Morris International (PMI) has joined The Valuable 500, a global initiative aimed at improving disability inclusion in business. CEO André Calantzopoulos emphasized that this commitment will not only enhance workplace diversity but also help the company tap into the talent of individuals with disabilities. PMI plans to establish a Global Employee Resource Group on Disability, improve accessibility in communication technologies, and address stigma around disability and mental health. This strategic move aligns with PMI's vision for a smoke-free future.
Philip Morris International Inc. (NYSE:PM) CFO Emmanuel Babeau addressed investors at the Morgan Stanley Virtual Global Consumer & Retail Conference. He revised the full-year 2020 reported diluted EPS forecast to approximately $5.08, slightly up from the previous range of $5.03 to $5.08. This revision reflects lower costs due to efficiencies and pandemic-related adjustments. The forecast suggests a 6% increase from the pro forma adjusted diluted EPS of $5.13 in 2019. Key assumptions include HTU shipment volumes of 75 to 76 billion units and market share gains in IQOS geographies.
Philip Morris International (PM) will hold a live video webcast featuring CFO Emmanuel Babeau at the Morgan Stanley Virtual Global Consumer & Retail Conference on December 2, 2020, starting at 10:00 a.m. ET. The session will be accessible via www.pmi.com/2020morganstanley, where presentation slides will also be available. An archived version of the webcast will remain online until December 31, 2020. PMI is committed to transitioning to a smoke-free future, with around 11.7 million adult smokers switching to its heat-not-burn product as of September 30, 2020.
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Philip Morris Investments B.V., a subsidiary of Philip Morris International (PM), holds a one-third stake in Medicago, focusing on plant-derived vaccine development. Medicago has secured a deal with the Canadian government to supply 76 million doses of its COVID-19 vaccine, with C$173M ($131M) funding for its trials and manufacturing. PMI's CEO praised the collaboration to accelerate vaccine development. Medicago is currently advancing through clinical trials, with Phase 1 testing completed on July 14, and anticipates Phase 2 trials to start in November 2020.